Australia looks for charter regulation reform

The recent ASMEX conference, held prior to the 24th Sanctuary Cove International Boat Show, addressed many issues affecting the Australian superyacht industry (for a full report on the conference see Issue 135 of The Superyacht Report). These issues included the current charter laws and movements to have them readdressed and altered by Australian government. News has come in that since the conference Superyacht Australia has made a formal submission to the Australian government which requests a review of the regulations faced by visiting superyachts.

Currently, visiting superyachts, which are chartering or wishing to charter, face a port-to-port entry system whenever they enter a new state within Australia. The regulations as they stand are seen by Superyacht Australia as prohibitive to growing the numbers of visiting superyachts, and the organisation believes that relaxing of the regulations would be the catalyst to attracting more yachts to both Australian and Pacific waters. Demonstrably, Fiji and Tahiti have had noted success in attracting increased numbers of superyachts since amending their regulations, with Fiji achieving a return of $US3 million from five charters in 2011.



In their submission to government, Superyacht Australia estimates that numbers of visiting yachts would double should the regulations be relaxed. This drive to open up the superyacht charter market is supported by the governments 2020 strategy focused on attracting high yield tourists looking for those high end quality products.  The superyacht sector in Australia, like many in the tourism sector, is poised to take advantage of the significant growth in high net worth individuals coming from the emerging markets of Asia, China & India, looking for that unique experience. 

MaryAnne Edwards, CEO of Superyacht Australia, the peak body for the superyacht industry said “it is a huge step forward for us that the government is looking at this issue and has passed our submission down to Treasury and Customs for review.  We see no downside for the government just positives in terms of job creation and significantly increased revenue from this sector. At a time when we are looking for export revenue, to create more jobs and look after regional areas across all states and boost tourism numbers, the response has to be positive.”

As well as the review of charter regulations, Superyacht Australia continues to work hard on the other issues that are forming barriers to growth within the Australian superyacht industry, including the 35m rule in the Great Barrier Reed, pilotage costs and the need for increased infrastructure.


Related Links

Superyacht Australia Website

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