“Superyacht market growth in Asia: a Superyacht Singapore Association perspective”,
by Jean-Jacques Lavigne, Executive Director, SSA.
PART 1
After a very successful third Asia Superyacht Conference and a just as successful first Singapore Yacht Show, both held in April, the dust was expected to settle down a bit. But there is no respite on the small “Green Dot” as the first ever ICOMIA conference to be held in Asia will be opening its door mid-May. Meanwhile, as I write this blog, a group of fully dedicated people are bracing themselves in Hong Kong for the May 5th press conference announcing the launch of the Asia Pacific Superyacht Association. As Colin Dawson (Expat Marine Ltd, The George Group), Simon Turner (Northrop & Johnson Asia), YP Loke (Spinnaker) and Gareth Twist (Yacht Solutions) ready themselves for the highly-expected announcement, I take the opportunity to ponder over what the region now means for the global Superyacht market. A few random thoughts and observations:
1) Singapore: Let’s start with what I know best. With four good quality Superyacht marinas, Singapore started making a few headlines. Its Superyacht traffic grew dramatically over the last few years and it reasonable to think that for the first time ever over 100 superyachts (above 80 feet) would have visited Singapore in the same year. SSA’s target for the year was set at 130 and we would be ecstatic reaching that number. So far it looks good with not only a steady flow of cruising yachts flowing throw but also a reasonable number of good quality Superyachts making Singapore their home. Though I was initially supposed to be part of the team holding the APSA press conference in Hong Kong, I had to stay put in Singapore precisely to facilitate some of the long term arrangements for such new residing vessels. In 2011 and for the first time ever, over 20 superyachts will be permanently based in Singapore. Are we excited? Oh yes, we are, especially as the new owners are for a good number of them home-grown and first time buyers. What do they buy? Good quality, 4-6 years old pre-owned yachts with pedigree. The size? From 40 to 65 meters. Showoff? Not really. These are not impulse buying, the owners thought the acquisition through for 1, 2 years or more. And these yachts are meant for serious cruising, given the vast cruising potential of the region. Good, serious owners who know what they are getting into. This is the second generation of owners, and they will go along fine with our White Rabbits, our Asean Ladies and our Sea Shaws…
2) Singapore again: Transforming itself into a Superyacht hub is not only about infrastructure. It is also about content, information and networking. I am personally amazed with what we witnessed over the last 3 years: now we have a well-rooted yearly Asia Superyacht Conference, a very well received Singapore Yacht Show which will without a doubt lead to a very cool and enlarged second edition in 2012, we have “the Helm”, the first Asia-focused dedicated Superyacht magazine published by Ensign Media, a local publishing house, we also have the incredibly exciting SuperyachtTV (check www.superyacht.asia for all the latest videos), launched by local outshoots Moriah Production and ImagineTV, and of course we still have the magnificent Asia-Pacific Boating magazine which historically is the magazine that connected Asia to yachting, owned by the very Singaporean SPH-Blu inc Group.
3) Singapore, still, but not so cool: Still. Still, we don’t have a proper Superyacht refit and maintenance centre. There are some tremors but we have not cracked that nut yet. So, yachts go to Labuan (Borneo) and Langkawi (Malaysia). Having these alternative repair facilities are without a doubt a blessing, but still, we could do with something in Singapore. Our local yards do take yachts once in a while and they do upgrade their facilities to cater to the Superyacht market but it is still a matter of too little too slow. Granted, the commercial and oil & gas businesses are still good enough to guarantee Singapore its spot in the sun, but just like there is room for alternative energies, there is room for alternative industries. Even Mr. Iswaran, Minister of Trade and Industry agree. For the time ever, the Singapore Government acknowledged through his Singapore Yacht Show’s opening speech that there a need for a refit centre in Singapore or “its immediate surroundings”. Of course, as SSA, this are exactly what we expected/hoped him to say but now we need to collectively make it happen. We seeded the idea, nurtured it, fed it, and now we need to deliver that “baby”. There are contractions… foretelling signs indeed.
PART 2, I will be discussing about:
1) The charter market
2) The cruising grounds
3) Superyacht buildings
4) Superyacht ownership in Asia.
Thanks for reading.
Jean-Jacques Lavigne can be reached at
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