In recent years, Asia has rapidly become one of the major territories active in the yachting industry. Thus, after a series of yacht-related acquisitions led by Chinese beneficiaries, 87 percent stake in the Feretti Group is owned by Chinese conglomerate Weichai Group; Dalian Wanda Group was announced to buy a 91,8% stake in Sunseeker Yachts; Lai Sun Group acquired 49.9% of Camper and Nicholsons International for €13 million. Still, according to Bloomberg research, the optimistic forecasts on the development of the yachting market in China turned out to be erroneous.
According to Boat International Media, there are only three confirmed Chinese owners from the TOP-200 of the largest yachts in the world, despite the fact that no other country can boast such a large number of billionaires. The Chinese rich actually do spend money collecting the best works of art, buying sports teams and golf courses. Nonetheless, big vessels remain taboo for them.
Hong Kong broker Eric Noyel from Asia Marine Yacht Services Ltd reports that finding takers for even a modest-size superyacht has now proved almost impossible in China, although only 7 years ago, the China Cruise & Yacht Industry Association predicted a boost on the local market. They stated, there would be 100,000 luxury vessels in China by 2020, raising from 3,000 back in 2012.
Delphine Lignières, chief executive officer of China Rendez-Vous, which runs the boat show in Sanya, says China’s yachting ambitions were suppressed as a side effect of an anticorruption campaign.
Yacht sellers did not anticipate the rapid take-off of Xi Jinping, who became general secretary of the Central Committee of the Chinese Communist Party in 2012. Shortly, he punished over 100 thousand party members, as a result high-level officials had to forget about luxurious life attributives. Part of the propaganda, it has become almost a crime to flaunt one’s wealth in a public way, as 200 million Chinese citizens live in poverty.
Gordon Hui, President of Sunseeker Asia Ltd., which has been selling boats since the beginning of the 2000s, was forced to close three salons in China. Since 2015, he has not sold a single yacht for use in China, though still selling to mainland customers for delivery outside the country.
What is more, there are other reasons behind the choice not to invest in private yachts among the Chinese. The mainland’s coastal metropolises lack repair yards, equipment suppliers, and the rest of the costly support network that private yachts require. There are very few large marines there, so anyone who considers buying a yacht will be forced to moor in Hong Kong, Singapore or Phuket. Some locals even keep their ships far away in the Mediterranean.
In 2015, the rules for operating yachts in the waters of China tightened: now there can be no more than 12 people on-board. Given that a yacht of any size needs a team of six people, there is no room for holding big parties.
Furthermore, the coastal waters of China is a complex water area. In the North, pesticides, waste and chemical fertilisers have poisoned the waters. Qingdao, where the 2008 Olympic Games were held, fights green algae each year. South, in the subtropics, water is patrolled by law enforcement officers. There is a struggle for the disputed territory, and not so long ago, new artificial islands were formed, stocked with troops and weapons.
Billionaire He Xiaopeng keeps his 26-metre yacht in Hong Kong. But as his electric car startup Xpeng Motors consumes all his time, he claims to use the vessel once a year, more often deployed by his friends. Fang Yuan from Heysea Yachts explains, that it is a standard story, as once he visited a boat a year after delivery and found the mattress still packed.
Manufacturers have already noted that, introducing the series of yachts called Tai He Ban, developed by Ferretti. The series is distinguished through practically no places to sleep - the space is reserved for banquet tables and karaoke stage.
One of the few yacht owners in China was Wang Jianlin whose company Dalian Wanda Group took possession of 92% of the British Sunseeker Yachts. His 28-metre yacht was docked at Qingdao marina that he owned, as well. Still, last year he sold both the yacht and the marina where she was located.
Another example, conglomerate HNA Group Co,. used a 49-metre superyacht for charters out of Hainan Island. In January 2019, they sold the ship, fearing pressure from the government, which urged the company to find ways out of the debt trap.
Still, random sales occur here and there on the market. For instance, Simpson Marine managed to find a buyer for a 26-metre boat in China. Further, one of the recent highlights of the local scene was the launch of the 88-metre Illusion Plus - the largest yacht produced in China. In Hainan and Zhuhai, the government is considering building new marinas, although not large enough for Illusion Plus.
Feadship has shared new images of the latest 88.38m Zen (Project 816) in the sea trial on the shipyard’s Facebook page. “One foggy morning on the North Sea... The 88.38-metre Feadship Zen moves peacefully through the water; a beautiful sight even on such a bleak day!” says the shipyard. Zen was launched in December 2020 and is going through its test in the North Sea. Her exterior was designed by Feadship’s very own Studio De Voogt. The five-deck yacht has a large swimming pool at the aft and a jacuzzi on the sun deck. Her interior was made by Nauta Design and FM Architettura. Zen has accommodations for sixteen guests, including the owners, who will be served by twenty-five crew members.Feadship was formed as a group in 1949 as a marketing partnership between six Dutch shipyards, de Vries Lentch, Van de Stadt, Witsen & Vis, Akerboom, De Vries Scheepsbouw and Van Lent Shipyard, and De Voogt Naval Architects. Feadship is well-known as one of the Netherlands’ most elite yacht builders, delivering superyachts from 50–100+ meters in length.Credits: courtesy of Feadship/Facebook
March 5, 2021
Italian shipbuilder Overmarine has shared the video of the new Mangusta Oceano 39. This 39m yacht has three decks, a lot of glass on the superstructure, an infinity pool at the aft and another one at the sundeck. Alberto Mancini stands behind the ‘minal, warm and cosy’ interior design, but they can be customized according to the owner’s wishes. A seaside glass villa, as the shipyards noted, the new fast displacement model of the Mangusta Oceano 39 can reach 21 knots and the displacement version can reach 16 knots. Overmarine Group was founded in 1985 by the Balducci family. The shipyard builds open and displacement power superyachts under the Mangusta and Mangusta Oceanco brand names.Credits: Overmarine
March 5, 2021
Northrop & Johnson has announced the sale of the 35.97m Westport motor yacht Isabella by Yacht Brokers Joe Foggia and Paul Daubner, acting on behalf of the seller. The yacht was launched by her renowned American builder in 1999. After a 2017 refit, the yacht presented beautifully. She boasts impressive interior space and a well-thought-out on-deck layout providing abundant spaces for her new owners and guests to relax and socialize.Isabella’s interior was designed by Pacific Custom Interiors, which created a welcoming and elegant main salon outfitted with bespoke furnishings and seating, a full bar and an entertainment center – all of which was built using the highest quality materials by expert craftsmen. The yacht’s formal dining table is located forward of the main salon. Large windows provide abundant natural light and incredible views.She can accommodate ten guests in five staterooms. The yacht’s master cabin is located on the main deck. It is outfitted with a king bed and an impressive ensuite bathroom with a tub and shower. Four additional staterooms are located below deck, each with an ensuite bathroom. The yacht carries a crew of four in two ensuite crew cabins.The exterior decks of Isabella are stylish and were designed by Anderson Yacht Design. The yacht has a large aft deck and foredeck sunpads. Her flybridge is outfitted with a wet bar, barbecue, jacuzzi and lots of space to unwind.Credits: Northrop & Johnson
March 5, 2021
The German based manufacturer of electric yachts and floating solutions Alva Yachts has signed contracts with environmentally conscious yachting dealers from across the world. Alva Yachts has seen strong interest from dealer partners in Scandinavia, Eastern Europe, the Middle East, and Asia. However North America is particularly strong. This is driven by incredibly strong consumer demand for luxury solar-powered catamarans.Alva Yachts dealer networkMathias May, Alva Yachts co-founder and managing director“We are very proud to announce our global network and look forward to further growth as a company with newly gained partners all over the world”, says Mathias May, Alva Yachts co-founder and managing director.Dennis de Roos, Alva Yacht’s Interim Commercial DirectorDennis de Roos (Alva Yacht’s Interim Commercial Director) says: “The main focus is on the growth of the Company and network expansion, with the implementation of a strong dealer structure around the world. To support this mission, the Alva management has established very important partnerships with distributors and dealers in the key yachting areas of the world, where electric and emission-free sea travel has become a key requirement.”Alva Yachts OE60Alva Yachts was founded in Germany in early 2020 by Mathias May and Holger Henn. It was built on the former PICA yachts, which launched more than 40 boats. May brings with him many years’ experience in boatbuilding, and is managing director of a new company based in Bad Pyrmont, Germany. Henn, on the other hand, is a celebrated yacht designer with numerous award-winning designs from 26ft to 82ft under his belt. He has taken on the role of CEO of Alva Yachts.Credits: Alva Yachts
March 4, 2021
Steven Kozloff has announced the new explorer project Arctic Owl in his Goliath Series. The 61m Arctic Owl is fast, light, has a shallow draft and features a helicopter hangar.The U-Boat Worx NEMO submarine can be accommodated in the garage. The submarine’s easy launch and recovery system is Kozloff’s most recent invention. She also has a separate dedicated garage for the tenders, both port and starboard, resulting in an effortless launch and recovery system. Arctic Owl has two aft cranes to load and off-load research equipment.The Arctic Owl can accommodate up to ten guests and six crew members. She features two master cabins with panoramic views, forward and aft, and has four additional rooms that can accommodate two guests each.There is a generously sized spa, swimming pool, and lounging area at the bow. The Arctic Owl cruises at 16 knots for 6,000 nautical miles. Credits: Steven Kozloff
March 4, 2021