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J U N 2 1 , 2 0 0 8

International Market Update - SuperYachts going STRONG !

US economy slow-down?...global recession??...inflation rising

and markets down in India??? ...surely looks like a bad picture

for the luxury industry, and even worse for guys selling hot yachts!

BUT surprise surprise...you wouldn't believe if we told you that there have been

more superyachts ordered last year than ever...and the trend is rising at approx

20% per annum!

Rumours of a shake-out in the bullet-proof superyacht industry were mooted at

the Global Superyacht Forum.

STATS

The latest Superyachting Index shows that the top end of the yachting market is

still holding firm not showing any signs of depletion currently.

The index, which is compiled by The Luxury Institute and Camper & Nicholsons

International the yacht broker and charter company found that new orders for

yachts over 130 feet are up 18% in 2008. There were 254 new orders for yachts

longer than 130-feet last year, up from 134 in 2005.

The report also puts into perspective the astounding growth rate over the past

decade for jumbo yachts. In 1997, there were just 241 yachts of 80-feet or more

under construction around the world. Last year, there were 916 such boats being

built.

The average price for motoryachts longer than 100 feet was US $10.3 million in

2007. The average price for sailing yachts of the same length was US $9 million

(although, to the dismay of traditionalists, sailing yachts now make up a tiny

fraction of the large yacht market).

Sailor Humor

What do you cal

happy pirate?

A jolly roger! !

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Posted by Giira at 3:22 PM

STAFFING IS THE MAIN PROBLEM

Ironically, the biggest constraint to the industrys growth isnt the economy its

staffing. The report says that about 25,000 crewmembers are necessary for todays

fleet of superyachts, but only about 15,000 currently work aboard yachts.

Shortages of captains and engineers, it notes, are especially acute.

All of this sounds encouraging. And the superyacht market likely wont face thesame crash it experienced in previous downturns, since its so global. Just a

decade ago, the vast majority of big boats were being purchased by Americans and

Europeans. Now, Russian, Indian and Middle Eastern buyers are fueling the market.

U.S. SLOWDOWN JUST AROUND THE CORNER

A brief review of with several yacht brokers would lead us to believe the market

at least in the U.S. is poised for a slowdown. A year ago, buyers could order a

new boat knowing that, in the worst case, they could flip it for a quick profit. Now

theyre more hesitant.

With the American market especially, people are waiting for more certainty in

financial markets before make a big decision, said Jonathen Beckett, CEO of

Burgess.

INDIA...

Having a full-fledged superyacht market in India may not be a distant dream for

some, but as per current socio-economic trends a safe estimated growth of 60%

per annum is emminent.

Labels: superyachts, updates

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Luxist, USA

All pieces featur

the same lacque

work, mahogany

inlay, chrome

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leather trim fou

on Riva's beautif

boats. Riva, whi

dates from the .

Yachting World

The yachts -

resplendent in

gleaming varnish

work and polishe

brass - gathered

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100th birthday o

Viola, ...

BYM News (pressrelease), Spain

We are honored

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beautiful yachts

said Cary Jones,

President of

WESMARs

mechanical

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has over forty

years in the mar

...

Reuters

The city itself is

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The Classicist:

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2 comments:

Anonymous said...

Quick question where are you pulling your data. Do you have a source?

June 22, 2008 7:50 AM

Giira said...

@anonymous

Hi !

It is appreciated that you have bought to fore a mention about our source for the

valuable information we put on the blog.

With regards to this post, the facts and stats conveyed are through authentic

sources such as 'The Luxury Institute and Camper & Nicholsons International', and

reconfirmation by our team with experts in the industry and network.

All information available through us in from the best relevant sources, and

verified.

Rest assured, our readers get quality information - and we strive in provding them

the same.

Team GIIRA

June 22, 2008 2:33 PM

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