Positive data from Singapore Superyacht Association hints at Asian Resurgence
The Singapore Superyacht Association has released data relating to the performance of the country's superyacht industry in 2010. Positive growth in many areas of the industry suggests the positive growth of the wider region.…
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According to data released by the Singapore Superyacht Association the industry in Southeast Asia is finally on the road to recovery.
At the start of 2010 the organisation had set a target of 80 superyachts visiting the country over the course of the year, up from 59 in 2010. And yet, despite a flagging global recovery and regional concerns over piracy, the Association achieved its target illustrating a marked recovery for superyacht traffic in Singapore.
Of these arrivals, undoubtedly the most high profile was that of the 73-metre Silver Zwei, which played host a to a number of private functions whilst refuelling in Singapore. However, despite a 37% rise in traffic, the overall foot-run for visiting superyachts has fallen from 2009’s 127 feet average to 119 feet in 2010.
The Association cited the popularity of the area as a cruising ground for sailing yachts. Indeed, only 54% of superyachts cruising Asia are motoryachts, with almost half being sail yachts. Because of the improved technology and communication systems the navigation of oceans by smaller superyachts is no longer seen as intimidating and goes further to explaining why the average length fell year on year.
For a region that was previously characterised by a lack of internal exchange of traffic, 2010 was a surprisingly mobile year, demonstrated by 10 Asian-based superyachts visiting Singapore, an increase of 25% on the previous year. This, including the visit of the 1670-foot Matahari is further evidence of an Asian superyacht industry that is growing.
Singapore itself boasted 19 superyachts in 2010, an increase of four on the previous year. Among these was the 108-Broward, Nymphaea, which came to Asia from America for an extensive interior refit to meet the growing charter demands in the region. There is a further encouraging sign for the Singaporean shipbuilding industry with two new builds currently underway: the 128-foot Mega 128 and the 90-foot Kenvoir.
After 2009, in which Singapore’s marinas operated at well below their capacity, the figures for 2010 are encouraging. The signs suggest that, despite a relative lack of cruising potential, the region is emerging as a desirable stopover destination for superyachts. This has led the Singapore Superyacht Association to identify the development of refit facilities as the next logical step in the growth of the industry. Not only would this provide a huge boost to the regional economy, it would also further increase superyacht traffic to the area. With this in mind, this year’s Singapore Yacht Show will focus solely on vessels over 80 feet.
For Simon Turner, Director of Northrop and Johnson Asia:
“Despite a heavily lagging global financial economy, superyacht owners are still taking to the high seas and Asia is firmly on the map. It is good to see the mix of non-regional visiting yachts and more yachts being owned within the Asia region. As facilities and information increases on what is available for superyachts in the region, the numbers should continue to grow. This will eventually lead to a critical mass where much higher level investment is made, in marinas and refit centres, in waterfront property and more which will really then in turn drive the number of superyachts
In line with this view of optimism Franck Hardy, General Manager, of Singapore’s ONE°15 Marina Club says:
“The yacht industry is definitely growing, evident by the positive superyacht occupancy rate which doubled in 2009, and enjoying 50% occupancy in 2010. Noticeably, the trend is shifting to the Asian and regional waters for the superyacht owners to cruise. This could be attributed to new cruising grounds around Asia and SEA and the efficient infrastructure Singapore can offer to the superyacht owners, a reason good enough for them to stopover in Singapore before embarking to other destinations.”
WM
Related Links
Singapore Superyacht Association Profile | Singapore Superyacht Association Website
At the start of 2010 the organisation had set a target of 80 superyachts visiting the country over the course of the year, up from 59 in 2010. And yet, despite a flagging global recovery and regional concerns over piracy, the Association achieved its target illustrating a marked recovery for superyacht traffic in Singapore.
Of these arrivals, undoubtedly the most high profile was that of the 73-metre Silver Zwei, which played host a to a number of private functions whilst refuelling in Singapore. However, despite a 37% rise in traffic, the overall foot-run for visiting superyachts has fallen from 2009’s 127 feet average to 119 feet in 2010.
Silver Zwei
For a region that was previously characterised by a lack of internal exchange of traffic, 2010 was a surprisingly mobile year, demonstrated by 10 Asian-based superyachts visiting Singapore, an increase of 25% on the previous year. This, including the visit of the 1670-foot Matahari is further evidence of an Asian superyacht industry that is growing.
Singapore itself boasted 19 superyachts in 2010, an increase of four on the previous year. Among these was the 108-Broward, Nymphaea, which came to Asia from America for an extensive interior refit to meet the growing charter demands in the region. There is a further encouraging sign for the Singaporean shipbuilding industry with two new builds currently underway: the 128-foot Mega 128 and the 90-foot Kenvoir.
After 2009, in which Singapore’s marinas operated at well below their capacity, the figures for 2010 are encouraging. The signs suggest that, despite a relative lack of cruising potential, the region is emerging as a desirable stopover destination for superyachts. This has led the Singapore Superyacht Association to identify the development of refit facilities as the next logical step in the growth of the industry. Not only would this provide a huge boost to the regional economy, it would also further increase superyacht traffic to the area. With this in mind, this year’s Singapore Yacht Show will focus solely on vessels over 80 feet.
For Simon Turner, Director of Northrop and Johnson Asia:
“Despite a heavily lagging global financial economy, superyacht owners are still taking to the high seas and Asia is firmly on the map. It is good to see the mix of non-regional visiting yachts and more yachts being owned within the Asia region. As facilities and information increases on what is available for superyachts in the region, the numbers should continue to grow. This will eventually lead to a critical mass where much higher level investment is made, in marinas and refit centres, in waterfront property and more which will really then in turn drive the number of superyachts
In line with this view of optimism Franck Hardy, General Manager, of Singapore’s ONE°15 Marina Club says:
“The yacht industry is definitely growing, evident by the positive superyacht occupancy rate which doubled in 2009, and enjoying 50% occupancy in 2010. Noticeably, the trend is shifting to the Asian and regional waters for the superyacht owners to cruise. This could be attributed to new cruising grounds around Asia and SEA and the efficient infrastructure Singapore can offer to the superyacht owners, a reason good enough for them to stopover in Singapore before embarking to other destinations.”
WM
Related Links
Singapore Superyacht Association Profile | Singapore Superyacht Association Website
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