Millennial superyacht owners are on the rise, reports Business Insider. They have already caused a shift in most industries, and the world of yachting is not an exception. In order to cater the younger generation needs, yacht brokers will have to adapt to their preferences and lifestyle, while those who stick to the traditional ways of yachting will be inevitably left behind.
Image courtesy: Kuznetcov_Konstantin/Shutterstock via Business Insider
#1. The yacht owners will get 10-15 years younger in the next 20 years.
Of the top 100 billionaires worldwide, 20% are below age 50, while superyacht owners are 10 to 15 years younger compared to 20 years ago, according to a new research by shipyard Rossinavi and the International University of Monaco. Furthermore, they are expected to get even younger — within the next 20 years, the median age of superyacht owners will decrease from the 45 to 55 range to the 35 to 45 range, according to Business Insider.
#2. The mindset is changing, with the trend towards chartering over ownership.
This new group of superyacht owners views yachting as "an occasional pastime rather than an enduring passion," according to the Monaco Yacht Show media packet. Still developing their business interests, self-made millennials consider a yacht as only one component of their fast-moving lifestyle.
Instead of materialistic attributes of luxury lifestyle, millennial superyacht owners prioritise adventure, water sports and exterior space. For them, life experiences take priority over material possessions.
For Millennials, travel is no longer a planned venture to be prepared and booked well in advance. The younger crowd prefers the freedom of chartering as it allows them to jump from one yacht in Monaco to another in Santorini without being tied to a physical boat. It is definitely a different concept from the traditional two-week summer cruise.
Erwin Bamps, CEO of Emirates-based shipyard Gulf Craft expresses his opinion as follows:
We are going to see a time when the traditional idea of yacht ownership starts to follow the same path as car sharing services; more convenient than a traditional taxi, and a real alternative to owning a car. The same principle will easily apply to luxury yachts. Imagine a global, technology-driven service that delivers the yacht you want, at the location you want, at the time you want, and can arrange a private jet to fly you there.
#3. The Millennials' different preferences may change yachting in terms of design and selling tactics.
The way people consume superyachts has changed, also reflecting in yacht design. According to the MYS packet, formal dining rooms and salons will be less evident as yacht designers turn to gyms, spa, water sports and spaces that enable open-air socialising to accommodate millennials' desires.
And those who custom order superyachts are no longer requesting offices on-board, according to Business Insider. They prefer to be able to relax during their yachting cruises instead.
With this upcoming wave of superyacht owners preferring to charter, yachting companies will likely have to shift their tactics of yachts selling. Most likely, they will need to make contacts with potential buyers through social media for a more immediate, personal form of communication.
However, in general, all the changes should be understood as an evolution rather than a drastic change. The MYS packet stated:
According to the study, millennials are going to do things differently and the product will have to be re-packaged, but the yachts will not change that much and the ownership concept will not go away anytime soon. They will want their own product like the rest of us. Things change, but human nature stays the same.
Italian shipyard CRN launches a 62-meter super-yacht. The CRN 137 was designed by Nuvolari Lenard inside and out, working closely with CRN's internal technical equipment.According to he bow is vertical, not to follow the current trend, but to ensure maximum length in the water, thereby increasing speed and maximising the forward volumesThe layout includes accommodation for 12 guests, divided into six cabins. The raised deck of the owner has direct access to the outdoor dining area in the aft and the panoramic viewing room.Power comes from a pair of MTU 12V 4000 engines with a capacity of 2 011 hp. at a maximum speed of 16 knots.
February 17, 2020
Lurssen, Oceanco, Feadship, Nobiskrug and Benetti- pioneers in the stable supply of large yachts.The growing fleet of mega yachts also led to the fact that there were more for the charter. The largest of them was the 136-meter Flying Fox, delivered by Lurssen in 2019 and presented at a yacht show in Monaco.The massive 136-meter superyacht Lürssen Flying Fox has become one of the largest 20 superyachts in the world.Of particular note are the capabilities of the Flying Fox helicopter: it has a pair of helipads for superyachts, one on the sun deck, and the second on the bridge deck, with D-values of 18 meters and 14 meters, which can take the largest helicopters to the store.Its stylish exterior was designed by Espen Oino. Key features include cutouts on the bridge deck and upper deck, which allow a lot of natural light to pass through floor-to-ceiling windows.The elegant and graceful interiors of Flying Fox are owned by Mark Berriman.The designer created a calm and spacious interior, emphasized by neutral tones, complemented by tactile surfaces and decoration. The interior of the Flying Fox includes 11 guest cabins; one master and 10 VIPs, all of which have sea terraces. Accommodation for crew 54.Another significant object was Amadea.Amadea has surprisingly detailed finishes built to the standards of a yacht of this size. Since the first cutting of steel, delivery took only 31 months.Made of steel and aluminum, Amadea was delivered in 2017.The technical capabilities of the yacht were based on an existing project - Quantum Blue, launched in 2014.Interior designer Francois Zuretti combines grandeur with intimacy: hand-painted Michelangelo's clouds on the ceiling above the dining table; or dozens of warm organic tones delivered through whiskey with highlight, brandy and rum in clear bottles.Art Deco interiors were created in collaboration with the Dutch artist Willem Lenssink.According to Francois Zuretti, the owner requested an authentic classic presentation with the integration of 18th century classic furniture.
February 17, 2020
Motorboat Soaring, Abeking & Rasmussen's new 68.2-meter superyacht.In the coming weeks, shipyard and client teams will test Soaring navigation and safety systems in the North Sea, and then transfer the ship to their owner in April.<iframe width="560" height="315" src="https://www.youtube.com/embed/EnFOQb2zKRE" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>The elegant exterior and modern interiors of the project are the design work of the German studio Focus Yacht Design. They can accommodate up to 12 guests in six cabins, including a master suite on the aft upper deck and an additional five cabins on the main deck. On the owner’s deck there is also a library and a private aft deck with seating areas.<iframe width="560" height="315" src="https://www.youtube.com/embed/Z5uy_p9GJZY" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>The upper deck of Soaring has a master suite with a private owner's aft deck and library. The remaining 5 guest yacht cabins will be located on the main deck and served by a team of 17 people.
February 14, 2020
Lurssen, Oceanco, Feadship, Nobiskrug and Benetti- pioneers in the stable supply of large yachts.A significant Nobiskrug project is the 142.8-meter S / YA, the largest supporting sailing yacht built for Andrei Melnichenko.Work on the project began in 2008. Then eight designers were invited to present their versions of the world's largest sailing yacht. The Frenchman Jacques Garcia won the competition, but later, due to concerns about progress in the development of the project, the customer decided to change the designer. So Philip Stark joined in on Sailing Yacht A.<iframe width="560" height="315" src="https://www.youtube.com/embed/f3A6-mtdePQ" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>The three-masted sailing-motor yacht "A" has a maximum length (LOA) of 142.81 meters, a maximum width of 24.88 meters, an 8-meter encapsulated keel and a displacement of approximately 14,224 tons.To bring together such unusual architectural and design ideas. The choice fell on the Nobiskrug yard in Germany.The Dutch company Dykstra Naval Architects acted as developers of the hull and keel. The designer of three huge 91-meter masts was Magma Structures from the UK, with Future Fiber from Valencia creating the geeks for them and the sails from Doyle Sails from the USA.The massive hull and superstructure of the yacht are made of steel; to reduce weight, some of their elements are made of carbon fiber.From the significant projects Benetti should point out the 108-meter IJE, delivered in 2019 for the Australian billionaire James Packer.Benetti IJE - one of three yachts more than 100 meters high, built at the same time at the shipyard in Livorno, has a balanced and timeless exterior designed by the British studio RWD.The open spaces on board cover more than 1000 square meters and feature luxury items such as a separate outdoor dining area on the owner’s deck and a large family dining table on the main deck. There is also a 1.5-meter fire pit on the bridge deck.The interior was designed by Benetti's own interior design department. The apartments can accommodate up to 22 guests, there is also room for a team of 29 crew members.IJE can cover up to 6,500 nautical miles with its 345,000-liter fuel tank and reach a top speed of up to 18.5 knots using its two powerful MTU dual engines, each with 2880 kW. The yacht is also equipped with an Schottel Stern SPJ electric pump.
February 14, 2020
The 48 Wallytender X was unveiled at the Miami Yacht Sow 2020.Key features of this boat include extensive boating amenities, including a full cabin and shower for two guests, a galley with two refrigerators, one inside and one outside, and the Passarelle retractable model, which also serves as a swimming ladder. Hinged support sections increase the size of the swimming platform.This is the first unit in the outboard version with a deep Tyrrhenian blue finish equipped with four 450-horsepower outboard racing engines.They provide a maximum speed of 55 knots, a cruising speed of 40 knots and a range of 320 nautical miles. This range can be extended to 350 nautical miles at a cruising speed of 36 knots.Founder of Wally Luca Bassani claims that they were able to maintain Wally's strong aesthetic personality and many of the practical features already found in the inboard model, perfect to meet the needs of customers who prefer a boat trip.The change came after the third and fourth of 48 Wallytenders made their debut at the Cannes Yacht Festival last year after the acquisition of the Wally brand by Ferretti Group.
February 14, 2020