Jim Acher - Sales & Charter Broker
M. (+34) 667 678 357
[email protected]
Calle San Juan 4, Palma
http://www.bluewateryachting.comBluewater is an international, full service brokerage company specialising in sales, charter, management, crew training and crew placement.All figures are given in good faith, but Bluewater Yachting and The Islander take no responsibility for any error.Looking at the drivers, it was certainly not reductions in asking prices leading to sales, as none sold had been reduced in the last
3 months and 60% had never seen any reduction at all since coming onto the market. Keeping an eye on the strong US market,
it was a small surprise that they accounted for a slightly lower than usual proportion of completions with 8 out of 25 sales in
February. As mentioned, the Miami show had just ended and with the Palm Beach show around the corner, I would expect to see
greater activity from this region as time progresses.
February was a busy month by and large with a lot of the activity concentrated over the first few weeks.
What was particularly positive, was that the number of price reductions fell month on month and when one considers that the
Miami yacht Show takes place in February, this was really good news, as many sellers cut prices to attract buyers at these key
events. The sector splits are still quite even and looking at the total number of vessels that have been reduced since coming onto
the brokerage market, a small rise here was not a surprise.
Whilst commenting last month that February would be important in gauging the health of the market, sales had a 19% rise over
January and bodes well as we enter the main selling season.
The USA did produce nearly half of the new entrants to the brokerage market and overall, it is a comfort to see that the levels are
at low-ish levels. If historical patterns hold, this number should climb in March as the US boat show season ends and the Med.
season prepares to get underway. The Caribbean charter season looks to be finishing well and as we go into the last few weeks,
it is just 20% that have no activity booked in the 30-45m motor vessel bracket over March. Applying the same parameters to
the Mediterranean charter market, there are a total of 197 vessels available and as things stand today, just fewer than 50% have
nothing booked from mid-June to mid-September, including owner’s use. Although there are enquires, looking how they translate
to bookings will be essential over the coming weeks. The shipyards in Palma are full with huge amounts of activity taking place
showing that owners are spending on their vessels, either preparing them for their personal use, the charter season or both; a
positive sign on all aspects! As always, I would like to thank you for taking the time to read this and please do not hesitate to let
me know if you need any assistance or advice into any facet of yachting.
http://www.theislander.net. 45
BLUEWATER INDUSTRY ANALYSIS