Yacht owners that have become active on the business side of the industry have called for active changes in its models during a panel at the Superyacht Forum in Amsterdam. This follows the launch of their platforms aimed at reducing charter by slashing booking fees. "Stop your disrespect." Ahoy Club's Ian Malouf advised the market.
Attending the panel were Australian businessman Ian Malouf, founder of Ahoy Club and fresh of a $578 million exit in the waste management space, Philippe Bacou, founder of Yotha and Matty Zadnikar, founder of SeaNet. All founded yachting businesses in recent years stepping over from yacht ownership. The debate was moderated by Martin Redmayne.
According to Malouf, his primary goal is to improve the market and his secondary one is to make money. "I think we’re portrayed as a one click and you’re there business, but we have a large team and we are a full-service digital platform." Malouf commented. "We have the cheapest structure in the business and we expect it will go lower before it goes higher."
Malouf's 54m Mischief
Historically resistant to change, yachting has reacted defensively in recent quarters to the entry of these new actors. Malouf described their behaviour as "cartel-like". According to Philippe Bacou, the market is responding aggressively due to the platforms reducing commissions.
"When you provide something that is automatic instead of manual it reduces costs. What we are doing is making savings here." Bacou detailed. "Of course, we all want to make money, but it comes down to global satisfaction."
Ahoy Club and Yotha's web-platforms power an online search of available yachts for charter, a digital booking process and communication system with the yacht and their concierge team. Thanks to automation, the companies say they can reduce booking prices by near 15%.
Bacou's 43m Philmi
“Their behaviour has been poor but expected,” Malouf described. “We’ve been treated like we’re coming into an industry of brokers who think they own the boats. Our pricing structure is cheaper and we’re being told by many that it’s not acceptable and that it is an act of price-fixing.”
When a representative from a large brokerage house asked Malouf whether it would have been better to go to industry bodies like MYBA or LYBRA and try to improve the sector from the inside, the Australian businessman responded.
"Sometimes you have to break things to fix things and that’s what needs to happen. You’re talking about joining arms and walking down the road, which we’re witnessing and it’s a behaviour that’s unpalatable. The question of why didn’t we go to the industry is the reason we are here. For you to even ask me that question is a joke."
One of Seanet's Benettis
"You expect me to bend a knee for the incumbent and say, is it ok for me to enter your industry? Well, you don’t own this industry and it needs a shake, is getting a shake and will be shaken by us. What happens in a market is you have a business and competitors come in and compete, and whoever provides the best service for the best price and for the best commodity usually ends up with the best business."
The representative responded, as the market typically retorts, saying large brokerage houses offer a knowledgeable brokers, which can't be matched by these digital platforms. Pointing out Ahoy Club has a concierge team, Malouf went further, saying some central agents won't present valid charters that Ahoy brings to them.
"A few central agents will block a charter from us getting to the owner. Our remedy to that is that we respect your CA agreement until you breach it by not recommending our choice. That’s when we’ll go to the owner – it’s simple and fair. We’ve done over 100 charter contracts so far – we make no money off the small charters but they’ll come through. You talk about building relationships and that’s what we’re doing."
Malouf, Bacou and Zadnikar all encouraged the market at the end of the debate to focus on the end client and not to skim clients for commissions. "Put your commission drive aside and focus more on what the client wants." Zadnikar outlined.
"Stop your disrespect." Malouf added on.
Matty Zadnikar comes from the safety monitoring space, having founded and run Z-Group for over 20 years. In 2014, the group was acquired by American industrial safety group Total Safety, which allowed Zadnikar to transform his yachting hobby into a business. Founding the company, Zadnikar announced an investment of €32 million to jump start SeaNet's fleet in the Med, which is based on a co-ownership model.
Made up of Azimut and Benetti yachts of up to 40 meters, the idea is to give owners an option to buy only part of a yacht and improve its efficiency. On a 93ft Benetti Delfino, priced at €9 million, SeaNet lets you buy a 25% ownership stake for €2.3m with annual running costs of just over €110,000 instead of €450,000. This set up grants buyers a total of 7 weeks of use of that type of boat in the SeaNet fleet for 7 weeks per year.
Ian Malouf built his wealth in waste management in Australia with the DADI Group that was ultimately acquired by Bingo for $578 million earlier this year. With the help of his daughter, Ellie Malouf, the two have now switched their attention over to yachting with Ahoy Club, a market that they're now positioning themselves to try and dominate.
Owner of the 54-meter Mischief, which Malouf is also marketing for charter through Ahoy from €137,650 per week in the off-season, the Australian businessman recently listed the yacht for sale at an asking price of €24 million.
Philippe Bacou also launched his yacht platform, Yotha, in 2018 after 15 years of experience on the ownership and charter side of the market. Earlier in 2018, the French businessman raised an additional €1.4 million from strategic investors to develop and launch Yotha. His 43-meter ISA, Philmi was delivered in 2014.
Taiwan yacht builder Horizon Yachts has signed a contract for a new-build FD87 hull, becoming the fourteenth unit in the series.The 26.5-metre vessel specified as a Skyline version, was commissioned by US customers. They have previously built and owned a 27.24 metre Horizon E88. The yacht will become the fourth FD87 delivered to US clients within 18 months.This FD87 hull will feature a unique main-deck layout, where the owners specified a large country kitchen forward in place of an on-deck master. The yacht's accommodation space will be placed to the lower deck, comprising a full-beam master suite amidships and two VIPs forward and to starboard. The exterior deck space of FD87 will be maximised from the spacious aft main deck dining and lounging area to a Jacuzzi tub for 8 persons forward of the pilothouse. The yacht will also feature an enclosed skylounge extending aft into a protected exterior bar area with lounge zone and tender storage.The 26-metre is scheduled for delivery in summer 2020; the owners plan to cruise her along the U.S. East Coast, Bahamas and beyond.Meanwhile, the Taiwan-based builder has been recently honoured with the “Best Asian Yacht Builder” award for the 13th time. The annual Asia Boating Awards ceremony was held on in Singapore, organised by Asia-Pacific Boating magazine and China Boating magazine. The event, established in 2005, is considered the most renowned yachting awards in Asia-Pacific region.
April 24, 2019
Last week, after a nearly year-long process, St. Lucie County and Derecktor Shipyards signed a long-term agreement for the development and operation of a megayacht maintenance, repair and refit facility at the Port Ft. Pierce, Florida.The new shipyard is set to become unique in the U.S. as the first facility designed and built specifically to accommodate power and sailing yachts over 60 metres in LOA. The yard also aims to equip the facility with the largest lift in the world.Derecktor Ft. Pierce (DFP), as the new yard will be known, will provides direct access from the Atlantic through Ft. Pierce inlet, with no overhead obstructions and a maintained depth of 8 metres. The yard itself will feature a concrete apron of over 8 acres, providing ample work and storage area, as well as over 1000 linear feet of deep water dockage. An existing large building will be refitted to house machine, wood, pipe and electrical shops along with other service support activity.Vessel hauling will be accomplished through both a mobile lift and a drydock, giving DFP tremendous flexibility in the range of yachts it can handle. The lift is conceived for a 1500 ton capacity, making it the largest in the world. The lift is planned to start running by the autumn of 2020. The drydock, which will go into operation after the lift, is projected to be able to accommodate vessels up to 4000 tons, meaning that the majority of the world’s largest yachts can be serviced.Paul Derecktor, President of Derecktor Shipyards, stated:This is a big day in the history of our company. This yard lets us bring in a whole new range of boats. It’s a new market for us and, in large part, a new market for the U.S. We see great things ahead for Derecktor, for Ft. Pierce and for the people of St. Lucie County.Initial plans call for infrastructure improvements to begin as soon as permits are in place. DFP will start bringing in vessels for dockside work in the very near future, with operations steadily expanding as the facility improves.Photos and information via Derecktor Shipyards.
April 24, 2019
The Superyacht Show 2019, one of the premium annual superyacht events will take place from May 8th to May 11th in Barcelona. The second edition of the show, following last year's success, will be held at OneOcean Port Vell marina. The Superyacht Show is being developed by the members of the Large Yacht Brokers Association (LYBRA), based in Monaco. This organisation comprises leading superyacht brokerage companies worldwide, such as Burgess, Edmiston, Fraser, IYC, Merle Wood & Associates, Northrop & Johnson, Ocean Independence, Yachtzoo and Y.CO.Yacht Harbour takes a look at the not-to-miss superyachts confirmed for display at the show.#1. Maltese FalconBuilder: Perini NaviLength: 88 mYear: 2006Maltese Falcon is an iconic yacht that had held the title of the world’s largest sailing yacht until Oceanco launched the Black Pearl in 2017.Commissioned in 2000 by Tom Perkins, the late venture capitalist, the Maltese Falcon took nearly six years to complete. Sold to hedge fund manager Elena Ambrosiadou at an asking price of €70 million in 2009, the 88-meter is now one of the largest yachts available for charter with a rate starting from €360,000 per week.Maltese Falcon’ most innovative attribute became her sails that could rotate based on the direction of the wind. This was a first for the yachting industry. This innovative system allows the yacht to even sail against the wind. Maltese Falcon features a cruising speed of 16 knots. Meanwhile, in a storm in the Gulf of Lion, France she demonstrated a speed of 26 knots under sail alone.Designed by Ken Freivokh, the Maltese Falcon was extensively refurbished in 2015/2016 during a refit. She can accommodate up to 12 guests on-board.#2. SecretBuilder: Abeking & RasmussenLength: 82 mYear: 2013Asking price: € 119,000,000A 82.3-metre motor yacht Secret was launched by Abeking & Rasmussen in 2013. She has received full repainting in 2017.Featuring interiors by Jim Harris and exterior styling by Sam Sorgiovanni, Secret is trademarked with a cinema, gymnasium, massage room, Jacuzzi, At Anchor Stabilisers, and an elevator.The yacht offers accommodation to up to 15 guests within 7 cabins on-board with a VIP suite and an extra guest-finished cabin for 3 children or staff. There is also accommodation space for up to 23 crew members.Powered by Caterpillar engines, she can cruise at 14 knots with a range of 5,000 nautical miles, reaching a maximum speed of 16.5 knots.Secret was rumoured to belong to Nancy Walton Laurie, American businesswomanand heiress to the Walmart fortune, who is estimated by Forbes at $5.7 billion. Nonetheless, the yacht was put for sale in January 2019, asking € 119,000,000 with Burgess.#3. SeahawkBuilder: Perini NaviLength: 60mYear: 2013Asking price: € 32,000,000All-aluminium sailing yacht Seahawk features Perini Navi in-house exteriors and naval architecture developed in collaboration with Ron Holland Design, along with interiors by French studio Liaigre. She offers accommodation to 12 guests within 6 cabins.With a beam of 11.4 metres and a draft of 12.3 metres, she has an aluminium hull and aluminium superstructure. This adds up to a gross tonnage of 491 tons. Seahawk reaches a maximum speed of 15.50 knots and cruises comfortably at 13 knots. Following her 2018 refit, Seahawk has been listed for sale asking €32,000,000.#4. EminenceBuilder: Abeking & RasmussenLength: 78 mYear: 2013Asking price: € 80,000,000Initially built for American businessman Herb Chambers, the project was sold right before delivery in 2008. Classified by Lloyds, Eminence features a beam of 12.4 metres and a draft of 3.2 metres along with a steel hull and aluminium superstructure. This adds up to a gross tonnage of 2054 tonnes. Eminence offers accommodation to up to 14 guests in 7 cabins, within interiors and exteriors by Reymond Langton.Powered by Caterpillar 3516 DITA engines of 2000 HP each, the yacht reaches a maximum speed at 16 knots and cruises comfortably at 14 knots for 6,000 nautical miles.She is asking € 80,000,000 with Burgess.#5. Solo Builder: TankoaLength: 72mYear: 2018The yacht was launched in August 2018, making her international debut at the Monaco Yacht Show the same year. Designed by Francesco Paszkowski in collaboration with Margherita Casprini, Solo’s interiors represent blend of contemporary and timeless air. Her spacious main and upper salons provide relaxation zones with large plush seating areas, along with a dazzling baby grand piano and numerous entertainment options.The yacht’s six staterooms can accommodate up to 12 guests, including a spacious VIP, two doubles and two twins. The master suite is fitted with a private terrace complete with sunpads and a Jacuzzi with panoramic views. On the skylounge aft, there is a swimming pool and a private dance floor, which easily converts to a touch-and-go helipad. Solo’s beach club, meanwhile, represents a spacious and welcoming space with sofa, bar, TV, oversized glass walled gym with fold-out terrace, bathroom, sauna (also fitted with its own fold-out terrace) and hammam.#6. Anna IBuilder: FeadshipLength: 67 mYear: 2007Asking price: € 65,000,000 The 67-metre Anna I with exterior and interior styling by Michael Leach was delivered by Feadship in 2007. She offers accommodation for up to 17 guests in six cabins along with 17 crew members. The yacht’s exteriors are trademarked with several al fresco relaxing and dining zones, including a sundeck equipped with a Jacuzzi, drinks fridge and sunloungers. Anna I is also fitted with split-level master suite with upper deck viewing lounge, and a wellness centre on the upper deck complete with gym, massage room and marble steam room.Thanks to twin 2682 HP Caterpillar engines, she can reach a top speed of 16.7 knots and has a generous range of 5,100 nautical miles at a cruising speed of 13 knots.The motor yacht is currently listed for sale for €65,000,000.#7. Lady ChristineBuilder: FeadshipLength: 68 mYear: 2010Asking price: $69,000,000Built by Feadship in 2010, Lady Christine features a beam of 12.5 metres and a draft of 3.6 metres. Within exteriors by De Voogt and Art Deco interiors by Rodney Black, Lady Christine is combined of steel hull and aluminium superstructure. The yacht with interior volume of 1,608 tons can accommodate up to 10 guests in 5 cabins on-board. Her key features include a fully certified helipad for EC130 with onboard refueling, full-beam dining room and piano bar, along with a vast split-level owner’s deck with observation salon, his and her offices and a private terrace. Powered by engines of 1,770 HP, the vessel reaches maximum speed at15 knots, cruising comfortably at 13 knots. Lady Christine is listed for sale asking $69,000,000.#8. Triple sevenBuilder: NobiskrugLength: 68 mYear: 2006Aking price: € 44,900,000The 68-metre yacht was built in 2016 by German shipyard Nobiskrug. She is a winner of 2007 International Superyacht Society Awards in Best Power 43m+ category. Triple Seven underwent a refit in 2014 and full repaint at Pinmar in 2016.The yacht’s design was developed by Newcruise Design. Triple seven is trademarked with an expansive beach club, large sundeck Jacuzzi, custom storage and well-equipped garage featuring a dive room, a 8 and 9-metre tenders and other toys.Powered by MTU engines of 2360 HP, Triple seven reaches her maximum speed at 17 knots, while cruising comfortably at 15 knots. Her maximum range is estimated at 10000 nautical milesThe yacht was sold in 2013 to Alexander Abramov asking €39,750,000. Mr Abramov, meanwhile, is the chairman of Evraz steel company with his net worth estimated at $6.4 billion by Forbes. In March 2018, Triple Seven was listed for sale through Burgess asking € 44,900,000.
April 24, 2019
Johnson Yachts introduces a new large-volume, 33,5-meters superyacht with a skylounge. Just in March, the yard has launched the entry-level superyacht Johnson 80.“The Johnson 110 Skylounge certainly looks like a Johnson Yacht,” said Andy Huang, president of Johnson Yachts. “And since we have the capabilities to build a yacht to the owners’ standards, that also meets our high standards for seakeeping and performance, the 110 Skylounge will also feel like one of our yachts at sea and throughout the interior.”The Johnson 110 Skylounge, the latest model from this Taiwan superyacht yard, has a fiberglass hull and superstructure, built from design using the yard’s in-house naval architecture and engineering. The yacht’s exterior is designed by Bill Dixon at Dixon Yacht Design, who added a third level to the vertical window arrays that set Johnson Yachts apart. She was purposely designed to capture the ‘super mega yacht‘ look and the highly sophisticated outcome has succeeded in both style and functionality. Johnson Yachts can design custom accommodations layouts to maximize the yacht’s 23-foot, 7-inch (7.19-meter) beam without compromising performance or handling. So that the additional space gives her owner plenty of customizing options.The skylounge is the key feature of this yacht design, and it makes the most of the upper deck, providing world-class views and onboard comforts to a large party with an L-shaped sofa and bar-style galley counter.The entertainment area on the main deck consists of a lounge area situated aft with an L-shaped sofa and big flatscreen TV. Inside the saloon, the formal dining area forward seats the full guest complement of ten. Wide doors open the space wide to the aft deck, where a transom settee and deck chairs welcome guests to a large dining table. Large swim platform raises hydraulically to use the RIB tender.For accommodations, the Johnson 110 Skylounge features the owners’ suite on the main deck, where a berth is situated to make the most of the lines of sight provided panoramic views forward out the large windows, separated showers and dressing table give the luxury comfort to the owner. At lower decks are four additional staterooms. The en-suite VIP is designed for special guests and uses the yacht’s full beam has a queen-size centerline berth with large hull side windows. Forward, another stateroom is situated abaft the bow sections. Between these two full-width staterooms are two more cabins, one with a double berth and one with a twin.The Johnson 110 Skylounge is powered by a pair of 1,925-horsepower Caterpillar C32 ACERT diesel, giving her a top speed of 22 knots also the yacht is fitted with ABT zero-speed fin stabilizers and a Seakeeper 35 gyro stabilizer.Johnson 110 specifications: Length Overall - 33.53 m Beam - 7.19 m Draft - 1.98 m Displacement 105 tons@Photos by Johnson Yachts Press Office
April 24, 2019
The 12th edition of the Loro Piana Superyacht Regatta, organised by the Yacht Club Costa Smeralda (YCCS) with title sponsor Loro Piana, is scheduled to take place in Porto Cervo from the 3rd to the 8th of June, 2019 and is set to be more competitive than ever with 24 superyachts already pre-enrolled. Owners who wish to join the fleet, including simply for the Rendez-vous aspect without competing, have to register until the 2nd of May.The 2019 edition of the Regatta will feature two important novelties: an extended duration, with an extra day to hold a cancelled racing if that happens, and the fact that multihulls of over 50 feet can now participate. With three multihulls already enrolled, Ad Maiora, Dragon and R-Six, they will race in their own category alongside any other multihull vessels that may register.The largest yacht enrolled so far is Q, built by Alloy Yachts to a design by Ed Dubois and measuring 51.7 metres. Just two metres behind her, a 49.8-metre Perini Navi Silencio, returns to the Costa Smeralda after winning in its class at the Perini Navi Cup in 2018. Another returning winner is the 39.6-metre Baltic 130' My Song, owned by YCCS member Pier Luigi Loro Piana which won the Loro Piana Superyacht Regatta last year and was recently declared Boat of the Year at the Italian Sailling Federation's Sailor of the Year awards.The Southern Wind Rendezvous and Trophy returns to Porto Cervo for its 14th edition with a fleet of 10 boats currently pre-enrolled. Kiboko Tres will be making her debut in June. The yacht represents the second unit of the new 32-metre model, launched in October 2018 and now in the Mediterranean after completing the transatlantic journey from Cape Town where she was built. The SW-RP90 All Smoke, designed by Reichel/Pugh and Nauta Design, will also make its regatta debut. The current holder of the trophy, the SW102 Seawave will fight to retain the title, while the SW82 Grande Orazio owned by YCCS member Massimiliano Florio, will compete on a level playing field with her sister ship Ammonite, returning from the Southeast Asia for the occasion.A new trophy will be presented by the YCCS Commodore Riccardo Bonadeo and Pier Luigi Loro Piana personally, and will be dedicated to the memory of the engineer Willy Persico, a YCCS member and the father of all Southern Wind yachts.Among the regular competitors in Porto Cervo will be the Wallycento Magic Carpet 3 owned by Sir Lindsay Owen Jones, the Wally 106' Open Season owned by Thomas Bscher and the Wally 94' Magic Blue owned by Antonio Cacace. All of the aforementioned are owned by YCCS members, and members Paola and Salvatore Trifirò, owners of the multi award winning Ribelle, an innovative design by Malcom McKeon, are also ready to do battle at the Loro Piana Superyacht Regatta.It is worth mentioning that the event is not only about racing however; once back on dry land owners and their crews will enjoy, as always, a rich social programme.Photos via YCCS.
April 23, 2019