Mid-2016 Superyacht Market Analysis

UNDERSTAND THE ACTUAL INDUSTRY CONTEXT

2016 is already half gone, a very fast and strong year for the superyacht industry. To keep the grip on what has already been achieved and what are we expecting until the end of the year, the superyacht authority magazine Boat International published a review with the main keys to understand how the superyacht market’s state is at the middle of the year. Between new build or brokerage status, or charter confirmation, we share with you the main features to clearly understand the environment and catch the interesting involvements of this moving year, which will help you to grow your future project, whatever if it’s a new build, a brokerage or a charter one.

HOW IS THE SUPERYACHT MARKET GOING?

NEW BUILDS: Italian builders launched so far half of the yachts
According to Boat International, “the first half of 2016 has produced several distinctive trends in the superyacht market, foremost of which is the enduring popularity of Italian brands.” The magazine knows that 55 Italian superyachts that have been launched so far this year, compared with 60 from the rest of the world combined, an impressive reward for the Italian handmade and a proof that the superyacht market is safely recovering. Our pride: being involved in this spectacular recovery with our current superyachts projects under construction.

BROKERAGE: the market has reached the strong level of sales posted in the first half of 2015.
Despite all news we can read and all information about the superyacht industry, the superyacht brokerage market is getting well. According to Boat International, “Despite the political uncertainty of an impending US election and the UK’s surprise decision to leave the EU, the brokerage market has thus far managed to match the strong level of sales posted in the first half of 2015.” Fact: a grand total of 184 yachts were sold between January to June 2016, which is only marginally down on the 189 sold during the same period in 2015. Monaco Yacht Show 2016 is coming soon and as growing actor of the industry, we will substantially help to keep this data high for the next months!

CHARTER: Spanish charter market confirms being the 2016 Summer trendy destination
For Boat International, “The Spanish charter market has continued its recent upward trend, with early indications suggesting that this could be a strong summer for the Western Mediterranean destination, both in terms of supply and demand.”  Considering the actual situation in Turkey, which has always been a top destination for charter, charterers are looking for alternative Mediterranean destinations. Confirmed by the magazine: “There is a steady increase of charter enquiries for the Balearics but not in the same proportion as the increase in the number of yachts available. This creates an opportunity for clients who have some flexibility with their dates.”
Keep in mind the popular 55m Amels ASTRA has her updated Spanish charter licence and is available from August 10th onwards in the West Mediterranean area, a good option to discover Spanish coastlines this summer!

BREXIT AND SUPERYACHT INDUSTRY: Immediate effects and long-term implications to seriously monitor
For Boat International: “The result of the recent British referendum on EU membership will have many long-term implications for the yachting industry, but the most immediate one has been a downturn in the value of sterling. In terms of the superyacht market, this will affect the buying power of clients with sterling liquidity.”
Interviewed by the magazine, Mr Jonathan Mealey, director of global currency account specialist Centtrip, said: “Weakness in sterling will likely continue for the foreseeable future, with the possibility of a further leg down should the Bank of England cut rates or increase monetary stimulus.” Despite this new and problematic situation, we are able to reassure all superyachts clients or potential buyers: the situation will not seriously affect your new build or brokerage project until a long time, and until the official Brexit (not to be done before 2019), solutions will be found to secure investors and protect the superyacht industry, event the luxury industry in general.

 

All quotes copyright Boat International – Full article available here 

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