66 JUNE–JULY 2018 | International Boat Industry http://www.ibi-plus.com
TECHNICAL
SECTOR SPOTLIGHT | SUPERYACHTS - WORLD REVIEW
ASIA PACIFIC
THAILANDSINGAPOREHONG KONGCHINATAIWANJAPANPHILIPPINESMALAYSIAINDONESIAINDIASRI LANKAMACAOMALDIVESMYANMARVIETNAMAUSTRALIA
NEW ZEALANDFOR MORE THAN a decade, the Asia-Pacific
region has been identified as the third
global cruising region for superyachts. In
that time considerable progress has been
made and currently the industry is on the
cusp of making some additional real steps
forward. The GFC caused some delay to
the overall initiative, but since that ended
some positive steps can be reported. But in
remains a work in progress, with a number
of hurdles still to cross.
This huge region extends from the
Maldives in the west to Tahiti and Hawaii in
the east. It is a region that includes a number
of mature markets such as Australia, New
Zealand, Hong Kong, Singapore and Taiwan,
mixed with several others in varying stages
of development. The number of superyachts
visiting is rising slowly, but it remains a
constant promotional effort.
The region is on the cusp of some
significant developments being made in
countries such as Australia, Thailand and
Indonesia. Aligning with more superyachts
visiting and the growing impact of the
marketing initiatives to attract more
yachts, investments have, and continue to
be made, across the region to provide the
infrastructure to service and support them.
The region offers a diverse and stunning
array of cruising grounds, but the long
distance and cost of transport puts many off.
With efforts being made to allow chartering
to be carried out across the region, plus all
the supporting infrastructure and services
in place or being put in place, Asia Pacific is
becoming a real third cruising option.CHINA
China is seen as the big growth
opportunity in the region, although the
general view is that it will take at least
a decade to achieve. There is a growing
interest in marine recreation and tourism
in the country but the pace is slow and
has not really touched superyachts yet.
There is a rising number of mainland
Chinese superyacht owners, but they tend
to keep their yachts in Hong Kong, the
Med or Thailand.
Major barriers to superyacht growth is
the 43% import tax on foreign-built yachts,
cultural issues and the problem of showing
wealth. The older wealthy Chinese are not
advocates of cruising, preferring to keep
their yachts in marinas to entertain their
friends, family and business associates.
Also, with the exception of Hainan in the
south, there are limited cruising grounds
and coastal security restricts opportunities
to do so.
Positive signs for the market are that
a number of the leading international
brokerage houses either have oices in
China or greater China (mainland China +
Hong Kong + Macao and Taiwan).
In terms of superyachts in build in China,
the largest superyacht by capacity so far
built in the country is under construction
by Pride Megayachts, an arm of the state-owned CIMC group, in Yantai in northern
China. This is the 88.8m (291ft) Illusion
Plus project, which is still for sale although
purchase negotiations are under way. Pride
plans to complete the yacht this year and it
may appear at the Monaco show.
China’s biggest and most successful
superyacht builder is Heysea Yachts, based in
the Pearl River Delta. There are four models
in Heysea’s superyacht series ranging from
96ft-139ft, plus it has other designs for a
larger monohull and catamaran superyachts.
In its 10 years Heysea has produced over 100
yachts and generally has around 10 projects
in build. The company is now expanding
to a second shipyard and it is also building
yachts for other brands.
Other yards can build superyachts, but
limited demand means their focus is on
smaller yachts. Considerable efforts are
being put in to grow awareness of yachting
as a sport and leisure pursuit in China with
an emphasis on sailing through events like
the Clipper Round-the-World race, of which
Qingdao, the sailing centre of China, has
been a sponsor for a number of years.Two main shows are part of the China
boating calendar – the China Shanghai
International Boat Show held every April
and the Hainan Rendezvous held in Sanya in
November.
As to marina infrastructure, China has
around 70 marinas but because of the small
number of yachts, the majority of berths
are empty. The high cost of yacht club/
marina membership is also a hindrance to
growth. Despite a strong marina portfolio,
there are relatively few superyacht-sized
berths. One positive point, however, is that
Sanya Serenity Marina was earlier this year
accredited with only the second Platinum
award under the global TYHA-MIA Gold
Anchor awards scheme.HONG KONG
Hong Kong rates as probably the mostChina has around 70
marinas, but because
of the small number of
yachts, the majority of
berths are empty. The high cost
of yacht club membership is also
a hindrance to growth