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.
This month the 23.5-meter sailing yacht Pelagic 77 left the canopy at KM YachtBuilders in the Netherlands, where there were installed the keel and rudders. The boat has now moved to the outfitting shed. The representative of Pelagic Yachts Skip Novak and Jordi Griso also took part in the construction. Tony Castro (design) described yacht as "an evolution of the 22.5-metre Pelagic Autralis". The aluminium work is now complete and the interior is underway in the Dutch yard's joinery department. The next stage will include the mechanical, electrical and hydraulic systems installed before interior outfitting takes place. Expeditionary ship Pelagic 77 is designed for expeditions in high latitudes. This implies an enhanced autonomy, ease of handling of sailing areas and simple technical systems that a crew can operate without any special assistance.Key features include a large pilothouse and a comfortable seating area, as well as a stern galley, which makes up most of the guest areas. The interior is made in bright colours and consists of six double cabins located in front of the wheelhouse, with two heads and shower cabins, divided between them.A yacht with a beam of 6.2 meters is expected to be delivered at the end of 2020.
April 8, 2020
Turkish builder, Alia Yachts, has presented its fully custom 135-foot (41.30-meter) superyacht, Rüya, designed inside and out by Sorgiovanni Designs.Rüya— which means ‘Dream’ in Turkish— is a high volume tri-deck motoryacht built in composite to Lloyd Register with a Gross Tonnage of 499 GT.Launched in July 2015, Rüya is a triumphant example of a pure custom creation. She demonstrates how a truly capacious yacht can be designed and built to grace the ocean with the timeless elegance of a far leaner vessel.Commissioned by experienced owners seeking a fully custom-built, go-anywhere superyacht, Rüya is a 499 GT Lloyd’s Register classed composite construction. Her clean, flowing lines flatter the tri-deck configuration, emphasising her length.The well-protected bridge and the open main-deck seating areas are further complemented with a fabulous 93 m² sundeck with full bar and a 10-person Jacuzzi. To fulfill the owner’s brief for a yacht that would facilitate relaxed living, the interior design is very much that of a luxe beach resort in the tropics.Exotic woods, bamboo and other natural materials create a sumptuous, tactile appeal, and a casual ambiance that belies the design discipline at work in this exceptional yacht.
April 8, 2020
Following Governor Ron DeSantis’ executive order issuing a Stay-At-Home directive through April 30, the Palm Beach International Boat Show has been postponed until further notice. Andrew Doole, President, Informa Markets U.S. Boat Shows and George Gentile, President of the Marine Industries Association of Palm Beach County, said that the primary concern continues to be the safety and well-being of their staff, exhibitors, partners, and attendees. The team is closely monitoring the latest developments regarding the Coronavirus (COVID-19) and how it might further impact their show. The Palm Beach International Boat Show has a total statewide economic impact of $682.7 million and supports 4,394 full-time Florida jobs. Team of the show continues to assess the situation and will provide a detailed update on the show’s status by April 17.
April 8, 2020
Ocean Alexander took the industry by surprise with the launch of the Divergence line. Their newest 45’ boat that transcends boundaries by flawlessly merging the comforts of a yacht with the size, swiftness and accessibility of a sport boat.The forward main deck holds a large and comfortable settee that can be converted into a table with wrap seating, making it the ideal spot for luxurious sunbathing and pure, restful relaxation.The helm on the 45D is completely focused on functionality while still maintaining the level of luxury you’ve come to expect from Ocean Alexander. The fibreglass helm station contains the latest Mercury and Garmin electronics and has the option of being customized with carbon fibre inserts. A/C vents and triple bolster seats ensure everyone at the helm is as comfortable as possible. As always, the console and display pod are designed for more ergonomic ease, enhancing the piloting experience.The spacious, open-air galley on the 45D is perfect for a quick snack or cooking up the catch of the day. Amenities include a Scandvik stainless steel sink, a U-Line refrigerator, Kenyon stove and fully enclosed fibreglass cabinets that provide plenty of storage space. The spacious salon is perfectly finished with dovetailed, solid-wood cabinetry, and features a hi-low walnut table as well as a U-shaped settee that converts into a comfortable queen berth with extra storage below. With a wet bar, Isotherm fridge, enlarged skylight and three windows, this area is the perfect spot to sit back and take a break from the outdoors.
April 7, 2020
Dutch shipbuilder Holterman Shipyard showcases new 32.65m superyacht X-Treme105. The yacht is made from the steel and aluminium and features Diana Yacht Design naval architecture and a robust exterior designed by Bernd Weel, while Trimm Design completed her interior designs. The X-105 features the latest technological developments such as a wet launch system. This system is suitable for a RIB up to 10m and contains an integrated 5m long swimming pool with adjustable depth due to a movable bottom. The midship holds a garage with doors folded on either side. The garage offers plenty of space for multiple water toys such as two jet skis and a RIB up to 3.45m. All essential technical systems are double-equipped for optimal reliability, such as bow thrusters, stern thrusters, stabilizers and watermakers. The two steerable nozzles do not only make the ship silent but also makes the ship more manoeuvrable.The outdoor deck flows seamlessly over into the spacious salon with a well-equipped and grand Galley. That same level holds the owner's quarters with ensuite sanitary facilities. On the lower deck, the 4 double guest bedrooms are accommodated with ensuite sanitary facilities as well. This deck also holds the crew area with two double cabins, of which one with bunk beds. The wheelhouse has an open connection to the salon and is located above the owner's cabin. The robust exterior and stylish interior make for an exclusive experience suitable for a yacht of this calibre.X-105 equipped with two Volvo D16MH engines and also can reach a maximum speed of 15 knots and cruise at 10 knots with 2,400 nautical miles. The first hull expected to be delivered in July 2021.
April 7, 2020