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.
65m superyacht Zazou has made her debut at the Monaco Yacht Show. The 65m custom yacht was launched in Livorno last April. She has an aluminium superstructure and steel hull painted in "Carinthia blue". Her exterior design was made by Giorgio M. Cassetta. Zazou interior was designed by Dutch studio Sinot Yacht Architecture & Design, who used marbles, woods and light colours for the yacht's decoration. Zazou exterior "I like to think of the interior as a musical composition. When you hear it for the first time you like it, but when you listen to it for a second time you start to hear another instrument or a chord that you didn't hear before. If you walk on board Zazou you will notice that it's an embracing atmosphere. When you sit down you will start to discover all the little details which make the boat rich and luxurious," says Paul Costerus of Sinot Yacht Architecture & Design at the presentation of Zazou. Upper deck salonThe design signature of Sinot is clear to see throughout Zazou, where the studio managed to create a light-filled and inviting interior atmosphere, characterized by a contemporary luxury style and a neutral palette accented by various contrasting and colourful details in the accessories and furniture. This homely environment is an inspiration to spend precious time together with family and friends.Main salonShe can accommodate 12 guests in six staterooms, including an owner’s suite which is located on the main deck. She features a dining and cinema / relaxation zone at the aft. the 90 sq. m sky lounge, massage room, five meter infinity pool at the sun deck. DiningThe garage, forward of the main deck, houses a 7.5 meter tender, two jet skis and a rescue tender. The engine room hosts a couple Caterpillar 3512C’s for a maximum speed of 16 knots and a cruising speed of 15 knots. The range at 12 knots is 5,000 miles.Founded in 1873, Benetti is the oldest Italian shipyard specializing in luxury yachts. They design, build and sell composite vessels from 29 to 44m and steel and aluminium boats from 37 to over 100m. Their fleet consists of five categories: Class, Oasis, B.Yond, B.Now and Custom, to meet all the needs of the market, and they belong to the Azimut|Benetti Group, the largest privately owned luxury yachting group in the world.Credits: Benetti
September 27, 2021
The Turkish shipyard RMK Marine and the Italian design studio Hot Lab presented the 50m concept superyacht Aries. The name of the newest concept relates to the zodiac sign. The superyacht will have a steel hull and aluminium superstructure. She will be an explorer yacht with a range of 5,000 nautical miles and ability to visit the most remote world areas. The owners can choose between a diesel engine or a mixed diesel-electric engine with lower fuel consumption. Aries will have a large beach club with hydraulic platforms. The large tenders and water toys can be stored underneath.The design is made not only for exploration, but also for pleasure and relaxation in the Mediterranean. The interior design and configuration of the newest concept will be customised according to the owner’s wishes. RMK Marine is the Turkey superyacht builder. The shipyard was founded in Halic, Istanbul to construct boats in steel, aluminium, and composite in 1978 joined the Koç Group of Companies in 1997 and was renamed RMK Marine, is located in Tuzla. RMK Marine specializes in building, repairing and maintenance of commercial, naval vessels and super yachts. Credits: Hot Lab
September 27, 2021
Lürssen has announced the new superyacht Project JASSJ. The 103m vessel will be overseen by Moran Yacht & Ship New Construction. At the moment we don’t have a lot of information, but it is already known that the design will be handled by the UK's premier yacht design studio Redman Whiteley Dixon. The yacht will be accommodated by 22 guests in 11 cabins and will feature a spacious beach club aft, a full-beam gym and extensive outdoor space for entertainment and relaxation. First details were released during the Monaco Yacht Show 2021. More details will come later. Lürssen is a German shipyard with headquarters in Bremen-Vegesack and shipbuilding facilities in Lemwerder, Berne and Bremen-Aumund. Founded in 1875, Lürssen is one of the world's leading builders of custom luxury superyachts and has launched many of the largest yachts in the global fleet, including Octopus, Rising Sun, and Azzam.Credits: Lürssen
September 27, 2021
Sea Machines announces 1,000 nautical miles remotely commanded autonomous long-distance journey of discovery and demonstration.September 30, 2021, marks the start of The Machine Odyssey, an epic voyage to circumnavigate Denmark with a commercial vessel commanded by marine officers seated in the United States.Intrepid vessel, the Nellie Bly, will be controlled by Sea Machines’ SM300, an autonomy system leveraging cutting-edge Artificial Intelligence, giving the riding crew the ultimate confidence and comfort:1. route planning and navigation via ENC-based GUI and GNSS localizations;2. dynamic situational awareness with computer vision, radar, AIS, depth transducer, IMUs, audio and streaming video;3. obstacle detection and collision avoidance with dynamic path re-planning;4. true redundancy of remote communications with fail-over, long-distance cellular radiosThe SM300 enables operators to remotely command and monitor multiple autonomous vessels from a shipboard or shore-based center. The shore-based center is located 3,500 miles away in Boston, Massachusetts. The system is managed by the Sea Machines team, which developed and refined the SM300 to the advanced product it is today. From the remote command center, marine officers will plan and manage the daily journey, and will monitor and oversee the autonomous operations.
September 24, 2021
New FD80 Skyline by Horizon Yachts during construction to a first-time yacht owner.This latest FD80 will be named Parabolic and features an enclosed skylounge configuration with a full-beam master stateroom on the main deck and three guest cabins on the lower deck, with crew quarters for four and a beach club situated aft.Plentiful deck areas distinguish the FD80 from any competition, and the owner of Hull 5 customized the upper deck layout to accommodate two jet skis on the boat deck aft along with a six-person Jacuzzi with counter seating and a bar area. The foredeck is fitted with a large sunpad and U-shaped seating with dinettes for enjoying the view at anchor. A large dining table for eight occupies the main deck aft, while additional dining can be enjoyed at the convertible dining table in the main salon.Throughout the interior, light anegre wood with walnut highlights is complemented by expansive windows and a light ash flooring for a bright and airy feel. The main salon features a dayhead and seating area with an off-white leather sofa to port and a fold-down television, console and convertible dining table to starboard. The galley is situated forward to port and features privacy glass and a bar area with three stools.The master stateroom occupies the forwardmost area on the main deck, while two VIP en suites and a convertible twin comprise the lower deck accommodations. The anegre and walnut finish continues throughout these areas as well.On the topmost deck, the customized enclosed skylounge configuration houses the wheelhouse with twin helm chairs forward and an L-shaped seating area facing a pop-up television and storage just aft.The owner worked with Horizon’s in-house design team to select a bright and cheerful soft goods package in a theme inspired by the Ginko tree that adds pops of blue, green and coral red hues complemented by decorative forms representing the ocean, earth, passion and geometry, all of which are intended to represent life’s infinite cycle peppered with the unexpected.Parabolic will be on display at FLIBS October 27 – 31. Upon delivery, the owner plans to cruise the U.S. East Coast and Caribbean aboard his new yacht. Founded in 1987, Horizon Yachts has celebrated 30 years as one of the largest luxury yacht builders in the world as well as the number one builder in the Asia Pacific region. In the past three decades, Horizon has delivered over 855 luxury yachts, with more than 220 of these over 80 feet in length. Popular models ranging from 52 to 150 feet include motor yachts, superyachts, power catamarans, expedition yachts, and fast displacement motor yachts.Credits: Horizon Yachts
September 24, 2021