A major limitation to the development of the Asian superyacht industry was recently rectified with the regulatory changes to existing charter laws. It was previously illegal to charter a superyacht exclusively visiting Thailand, unless the vessel operated under Thai registration. However, now, an updated charter license will allow for foreign flagged vessels to legally enter Thai waters.

“The opening up of the charter license is providing the industry with fantastic opportunities. It is still very much a ‘market-making’ situation at the moment, but we are actively encouraging clients to consider these new cruising areas”, said Richard Lambert, who was appointed Managing Director of Burgess, Asia, in April this year. 

“We recognise that the process of expanding in Asia is more of a medium to long-term strategy than short-term, although it’s exciting to say that there are new cruising opportunities in Asia – it adds an alternative to the Caribbean season”. 

Burgess, this year celebrating it’s 40th anniversary, was a strong force behind the legal adjustment and, reacting with speed, has lined up an impressive Asian charter fleet for the winter, consisting of seven yachts between 32 and 72m. According to Lambert, the fleet is already garnering traction and looks set to continue its growth.  

M/Y Saluzi available for charter through Burgess

At the time of writing, the seven yachts that are being offered for charter in Asia by Burgess are: 73m Titania, 69.1m Saluzi, 68m Triple Seven, 50.9m Northern Sun, 50.4m Sapphire, 35.5m Hyeseas 2 and 32.3m Mykonos

While the legal adjustment opens the door to a previously unexploited charter market segment, issues over crew visa laws and import tax remain, making this merely a stepping stone to truly unshackling the market’s barriers.

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