AboutMission Statement
Financing
Strategic Overview
Strategic mission
Board & Committees
Mission Statement:
The Superyacht Singapore Association (SSA) is a non profit association formed in 2007 by a representative superyacht industry group with the priority objective of "promoting Singapore as a Superyacht destination and a hub to create economic value for Singapore in the superyacht industry".
Financing:
SSA is financed through membership fees, sponsorship, advertising revenues, donations, and Government grants when applicable.
Strategic Overview:
It is estimated that:
- By the end of 2006 there were over 4,000 superyachts in the world with an estimated total value of +/-US$ 105 billion;
- This number, and hence the total value thereof, will continue to grow at 8 to 10% annually;
- Furthermore, the average size of superyachts, which has grown from 35 metres to 45 metres since 1995, will continue to grow, increasing the average value and hence the total value thereof; and
- The average annual operational (maintenance, servicing and supply) costs of a superyacht are +/-10 % of its value.
- It follows that the total current global maintenance, servicing and supply market for superyachts is +/- US$ 10.5 billion and this total will continue to grow at 8+ % annually.
- As superyachts are usually maintained, serviced and supplied at desirable destinations which their Owners/Captains prefer to visit, it follows that such destinations will benefit accordingly from this significant and increasing business.
- As the Owners/Captains of superyachts are seeking new desirable destinations, such as the Asian/Pacific region, it also follows that, if Singapore can successfully position itself as such a desirable destination so as to attract more superyachts, it will benefit not only from an increased number of visitations but also from an increased average spend per visitation.
- In this regard, if Singapore manages to attract annually just 1% of the global superyacht maintenance, servicing and supply market, this will represent revenues of +/- US$ 105 million. Assuming an average 20% gross profit margin thereon, total gross profits will therefore be +/- US$ 21 million.
- It was therefore proposed that, to facilitate an accelerated increase in the number of superyacht visitations to Singapore, key industry players championed the fast-track establishment, development and promotion of a non-profit, membership organization, Superyacht Singapore Association (SSA), which will "accredit" superyacht facilities, product and service providers and which will conclude strategic alliances to very significantly 1) increase traffic, 2) increase average stay-days and 3) Increase overall spending.
SSA Strategic mission:
The 5 critical factors to build a superyacht cluster anywhere in the world are:
- Be located at or near "destinations";
- Availability of superyacht berths;
- Security on-site and on the way to the sites/destinations;
- Dedicated and high quality white boat servicing, maintenance, repair and refit facilities with easy access to a skilled work force, specialized equipment and spare-parts;
- Availability of stop-overs on the way to and from destinations which provide refueling, provisioning and other essential services.
In the context of these 5 critical factors, Singapore can be analyzed as follows:
- Attractions/Destinations: Phuket, the Andaman Sea, Koh Samui are fast becoming playgrounds for many superyachts on and off peak seasons. However, Singapore is still little known by superyacht charterers, brokers, owners and captains for being a destination in itself. In this regard, Singapore’s terrific efforts to reinvent itself and the announcements of two upcoming top-notch Integrated Resorts ("Marina Sands" and "Genting Resorts World"), the great conceptual and commercial success of Sentosa Cove, the Esplanade by the Bay, the first ever Formula ONE night race coupled with Singapore first F1 GrandPrix, the Singapore leg of the Volvo Ocean Race etc. go a long way in promoting Singapore as THE tourism cum business destination in Asia. There is little doubt that superyacht owners from Europe and the Middle East will start considering Singapore as THEIR next destination. Now, these owners just have to ask their captain about the feasibility of such an "expedition" and to make sure that these captains have all the relevant information to be totally assured that Singapore is more than equipped to answer all of their essential needs.
- Availability of super and megayacht berths: Currently four marinas in Singapore offers superyacht berths (Raffles Marina Club, the Republic of Singapore Yacht Club -RSYC-, ONE15 Marina Club and Marina at Keppel). At any single time, Singapore can host up to 30 superyachts, from 80 to 350 feet.
- Security on-site and on the way to the sites/destinations: If security in Singapore is not a concern, it could be one on the way in and out of Singapore. However, Lloyds dropped the Straits of Malacca as a piracy high-risk zone for commercial shipping in September 06. To date, there is no official record of any white boat being pirated in the region. Still, the strategic route between Singapore and Darwin (Australia) through the Indonesian archipelago requires knowledge and specific security measures. Such issues are being addressed at governmental level as well as at captains level. Strategic alliances between specialized maritime security companies and SSA are currently being explored. Of course, the Gulf region passing must also be assessed carefully in its own right.
- Dedicated and high quality white boat servicing, maintenance, repair and refit facilities with easy access to a skilled work force, specialized equipment and spare-parts: Realizing singapore's unique potential in that regard, SSA aims at clustering suppliers, helping filling the gaps in the industry and market the capabilities of the Singapore industry as it shapes itself into a major servicing hub for superyachts. Of course, this is greatly facilitated by Singapore being the key Southeast Asia logistic hub and home of hundreds of marine suppliers supporting the very strong local shipyard industry.
- Availability of technical stop-over on the way to destinations for refueling and other urgent matters: The two superyacht routes are 1) From the Med-through the Red Sea – Dubai – Seychelles – Maldives – Phuket – Singapore – then up north towards Thailand or south towards Indonesia and Australia. 2) From US West Coast –Tahiti/Papeete - Gold Coast – Darwin – Indonesia – Singapore. Interestingly both routes present gaps and deficiencies that should be addressed. The development of the Indian superyacht market (see AYSS report Nov 06 "Yachting in India") presents good opportunities for route 1 as does the development of Bali berthing capabilities for route 2.
In conclusion, SSA is working towards attracting more superyachts and meeting in the fastest and most cost efficient way the challenges and opportunities of this nascent industry.
General Committee:
Chairman: Arthur Tay, Chairman and CEO, ONEÂş15 Marina Club
Vice-Chairman: YP Loke, Managing Director, Spinnaker International Pte Ltd
Secretary:  Paul Tham, Senior Manager, MTU Asia Pte Ltd
Treasurer: Steven Yen, Sales Manager, Jurong SML Pte Ltd
Executive Director: Jean-Jacques Lavigne, BDM, SUTL Group
Additional Members: Commodore Balakrishnan (RSYC), Robert Bird (Raffles Marina), Simon Turner (Simpson Marine)
Committees:
International Relations: YP Loke, Managing Director, Spinnaker International Pte Ltd
Superyacht Owner Relations: Arthur Tay, Chairman and CEO of ONEÂş15 Marina Club
Cruises and Destinations: Olivier Benoist, Managing Director, APTIC Pte Ltd
Marinas: Tan Kay Toh, Committee Member, Republic of Singapore Yacht Club
Industry Services: Scott Walker, Director, Seal Superyachts Asia (Singapore)
Safety and Security: Andy Hillyard, Drum Cussac Asia
Marketing: Robert Bird, CEO, Raffles Marina