Denison Yachting has published its quarterly business report, calling the quarter 1 of 2022 as ‘positive one’ in the yachting industry. According to it, ‘like 2020, 2021 was an impressive year for the yacht sector, and 2022 is following this upward trend. After unprecedented shake-ups in the initial stages of the COVID-19 pandemic, yachting recovered with a bang, and hotbeds like the United States Southeast and the Mediterranean region achieved record sales. By the end of Q4 2021, powerboat sales in the U.S. had exceeded more than 300,000 units for the second consecutive year, and the industry stood out as an excellent example of economic resilience. This set the stage for Q1 2022’.
Bob Denison
Now that 2022 is underway, the long-term impact of the pandemic has begun taking shape. While a reasonable chunk of the sales in 2021 was attributed to the long backlogs carried over from 2020, the market’s performance this year has so far been primarily driven by new orders.
Global Yacht Market Performance in Q1 2022
Despite economic times and supply chain upheavals, the yachting sector had a strong start to the year. Quarter 1 2022 had the third highest first-quarter boat sales of the last 15 years, behind only 2021 and 2018.
The below chart demonstrates this, showing first-quarter sales in North America in the last seven years.
Sales across all the top boating regions decreased in Q1 2022 compared to Q1 2021, bringing the total closer to, but still above, pre-pandemic times.
The following chart illustrates first-quarter sales in Asia since 2016.
Asia registered a 35% drop from the target-shattering 2021 figures, followed by North America with 16%. Surprisingly, sales in Europe only dropped by 8%, even with sanctioned Russian buyers, who have traditionally accounted for 9% of all global superyacht sales.
The chart below displays first-quarter sales in Europe for the past seven years.
Q1 2022 Sales in the U.S.
The U.S. market started the year on a high, with sales in Quarter 1 2022 only marginally below Quarter 1 2021 levels. America was the only one of the three key yachting areas with higher sales than the five-year average.
Sales in the top three major boating destinations – the Southeast, the Gulf Coast, and the Mid-Atlantic – dropped by 14% from Q1 2021, but were still 19% higher than Q1 2020.
An Impressive First Quarter for Denison
Denison sales in Q1 2022 mirrored the industry’s overall performance, exceeding pre-pandemic numbers and our five-year average. The top Denison categories – superyachts, motor yachts, sportfish, sailboats, and trawlers, all had a strong showing in Q1.
The Report says that ‘we had a remarkable Quarter 1, with sales exceeding $160 million for the second consecutive first quarter’.
‘Denison’s charter business has achieved commendable growth in the past two years, and is expected to continue throughout 2022’, says at the end of the report.
Denison has long been a leader in the yachting industry with a rich family history dating back to 1948, and the start of Broward Marine in Fort Lauderdale. Today, the company provides complete yachting services worldwide, including superyacht sales, yacht charter, crew placement, and new construction. Denison operates out of 21 waterfront offices in the United States, and one location in Monaco with a team of 100+ licensed and bonded yacht brokers.
Credits: Denison Yachting; Unsplash
Royal Huisman makes waves once again with Noir, an 81-meter sailing yacht, setting a new standard in superyacht excellence. Designed by Malcolm McKeon, Noir boasts the world’s tallest sloop rig at 93 meters, embodying the epitome of luxury and performance.McKeon, the mastermind behind this groundbreaking design, envisions Noir as the ultimate vessel for the owner's pleasure and adventure with loved ones. With a contemporary profile featuring a reverse bow and a flying bridge, Noir offers ample outdoor living space and unparalleled connectivity to the sea.An experienced sailor himself, Noir's owner prioritizes speed, power, and responsive handling, ensuring an exhilarating sailing experience. The yacht is tailored for world cruising and exploration, equipped with a 14-meter tender for coastal excursions without the need for yacht repositioning.Crafted from aluminum and powered by electric drives, Noir combines cutting-edge technology with sleek design. Rondal supplies the mast, boom, and integrated sailing system, contributing to Noir's status as the world's tallest sloop.Noir's interior, designed by GCA Architects, promises to harmonize with the contemporary exterior, blending natural materials and textures for a luxurious yet relaxed atmosphere. With details kept under wraps, anticipation for the unveiling of Noir's interior design continues to grow.Royal Huisman CEO Jan Timmerman expresses pride and gratitude for being selected to bring Noir to life, marking a significant milestone in the shipyard's 140-year history. As the fourth yacht to join the ranks of the world's Top 10 largest sailing yachts, Noir solidifies Royal Huisman's reputation as a leader in bespoke yacht craftsmanship and innovation.Royal Huisman is a Dutch shipyard established in 1884 in Ronduite, building and refitting custom luxury sailing and motor yachts at its shipyard in Vollenhove, the Netherlands.Credits: Royal Huisman
April 24, 2024
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April 24, 2024
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April 24, 2024
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April 23, 2024
Yonca Shipyard, a renowned builder of state-of-the-art composite vessels with a strong presence in the defense sector, has announced the launch of Mishi Yachts, a new brand targeting the sailing superyacht market.With a sprawling facility covering 44,000 square meters, half of which is under cover, Yonca Shipyard is equipped to construct vessels up to 160 ft in length and weighing over 400 tonnes. The yard's cutting-edge construction capabilities enable the production of up to 20 naval and leisure yachts annually.While excelling in various materials, Yonca's expertise lies in high-speed composite vessels, renowned for their robustness, seaworthiness, and impressive top speeds ranging from 40 to 80 knots.Şakir YılmaztürkChairman and founder, Şakir Yılmaztürk, expressed the shipyard's enthusiasm for venturing into the leisure marine sector. "Yonca Shipyard is esteemed in the defense industry and has served as the builder behind other esteemed yachting brands," said Yılmaztürk. "With 36 years of honed skills and capabilities, we are delighted to introduce Mishi Yachts, focusing on luxury sailing superyachts."Mishi Yachts' debut offerings include designs for an 88 ft and a 102 ft luxury sailing yacht, embodying the expertise and craftsmanship synonymous with Yonca Shipyard. The yard collaborates with renowned naval architects and designers to ensure superior performance and enduring quality.Yonca's proficiency in complex mold design and flawless composite work positions it as a leader in the industry. From CNC milling to vacuum infusion, the yard's meticulous approach ensures impeccable standards in fiberglass construction. Additionally, its finishing capabilities, including woodworking and stainless steel fabrication, further attest to its commitment to excellence.Mishi Yachts management board: Şakir Yılmaztürk, Erdem Yılmaztür and Didem Yılmaztürk Ulusoy"We are driven by the same passion and dedication that fueled our inception in 1986," stated Yılmaztürk. "Our reputation for composite craftsmanship and engineering excellence positions us to seize opportunities in the superyacht market. We look forward to delivering exceptional vessels that embody the essence of Mishi Yachts."Founded in 1986, Yonca Shipyard aimed to lead in fast boat design and advanced composites. Despite doubts, handcrafted boats reflected our vision. Now an industrial-scale enterprise, the shipyard produces cutting-edge pleasure, commercial, and naval craft. Yonca Shipyard delivered more than 180 ships and boats, specializing in fast interceptor craft and patrol boats for defense and law enforcement agencies.Credits: Pozitif Studio/Yonca Shipyard
April 23, 2024