The Calvène group obtains exclusive use of a specified vessel for eight years, with no substitution right for the supplier. Calvène decides which goods are carried, which ports are served and the departure dates, subject to clauses that prohibit sailing in high-risk areas and carrying hazardous materials. The supplier provides the crew and maintains the vessel. The internal auditor concludes that the contract does not contain a lease. Which statement in the auditor's memo is wrong and distorts the conclusion?