Ahead of the 9th edition of the Singapore Yacht Show (11-14 April 2019), the future is undoubtedly bright for superyachting in Asia.
“Expats used to be the driving force behind the yacht market in Asia but more and more Asian nationals are now entering the market. This is an exciting emerging market to be a part of,” said Adam Whittle, Partner at Brookes Bell Global Superyacht Division.
Singapore has been the trailblazer in the development of the infrastructure needed to attract superyachts to the region, with significant investment in marinas and yacht clubs and an open door for companies providing services to the superyacht sector. The Singapore Maritime Academy (SMA) has also offered maritime education and training since 2000, while Hong Kong has been instrumental in promoting superyachts for charter in the region.
However, all eyes are still on China, widely anticipated to rule the waves in the luxury yacht market, but the question is when?
As China’s millennial generation comes of age, creating unprecedented levels of personal wealth, their lifestyle and travel choices are becoming more adventurous. Superyacht charter and ownership are now within the reach of many but there’s still a lack of awareness and exposure to the yachting lifestyle. “We need to work to overcome the lack of knowledge and understanding of the boating lifestyle as it’s a hurdle for many people new to superyachting,” said Adam.
Superyacht Services: Singapore, Shanghai and Hong Kong
Building on 30 years’ experience in Europe, the USA and the Caribbean, Brookes Bell has been present in Asia for nine years and has witnessed growth in the market firsthand. With a team of 20 people across offices in Singapore, Shanghai and Hong Kong, their multi-disciplinary team includes marine surveyors, naval architects, marine engineers, master mariners, fire investigators, coatings specialists, metallurgists and fuel chemists.
“Our three offices join up the region in terms of the services we offer. If there is a fire or casualty on a superyacht anywhere in Asia, we can respond quickly and provide our expert services.” said John Gibson, Marine Engineer and Head of Brookes Bell in Asia.
“Beyond an initial fire or casualty inspection, there is a whole raft of legal aspects that need to be addressed, as well as insurance claims and possibly the management of disputes. When such incidents occur we take a problem solving approach and, when needed, we can also act as expert witnesses in court.”
Shipyards in Asia
With the growing number of superyachts now visiting the region, Asian shipyards are also adapting to the requirements of superyachts needing surveys, maintenance and repairs. Brookes Bell has been representing owners and liaising with Asian shipyards for many years, also acting as independent surveyors or investigators. In the digital age this includes the use of new technologies such as 3D laser scanning and drones saving time and reducing costs for both sides.
To share their firsthand knowledge with clients and the industry in general, Brookes Bell hold regular seminars in Hong Kong, providing a valuable platform for exploring ideas and solutions for the development of the marine market in Asia. The next seminar will take place on 9th May 2019.
For further information, or to meet with Brookes Bell at the Singapore Yacht Show, please contact:
[email protected] / +44 (0)7384 517 639/ +34 672 268 328
[email protected] / +44 (0)7341 561 733 / +44 (0)1512 360 083