The Monaco Yacht Show 09 Magazine:
http://www.monacoyachtshow.com
As a logical continuation of its commitment since 2005 to protecting the environment, the Monaco Yacht Show is now increasing its involvement
in international renewable-energy projects with The Carbon Neutral Company in partnership with Camper & Nicholsons.
Based on its own initiative, the MYS decided to contribute an « eco-tax » to help fi nance international environmental protection projects in association with The Carbon Neutral Company from which it was awarded the « Carbon Neutral » label in 2005.
The Carbon Neutral Company manages an international program to stabilize greenhouse gas emissions by quantifying waste generated by member organizations. In association with the MYS, the company evaluates emissions linked to air and surface transportation used by participants, hotel stays, electricity consumption and related waste. The Carbon Neutral Company then allocates the funds to fi nance various certifi ed projects.
A strong symbol of a natural and ongoing involvement in the projects fi nanced, the MYS has notably decided to increase its contribution to help build a factory powered by renewable energy in the Kurkumbh region of India. The ecotax paid by the MYS in 2007 enabled this project to be launched.
Kurkumbh Bagasse Cogeneration Project.
This Clean Development Mechanism project implements a cogeneration power plant that runs on agricultural residues at a factory in India. The power plant generates steam and electricity and reduces India’s reliance on fossil fuels. The project aims to generate emission reductions of an estimated 100,000 t CO2 equivalent between 2006 and 2012 (Technology partner: Alkyl Amines Chemicals Limited) New project 2009: Beijin Hydropower Station Project The MYS has also decided to be involved in the construction and operation of a hydropower plant in China. The project has generated emission reductions of approximately 200,000 t CO2 equivalent between 2006 and 2008, verifi ed and certifi ed to the Voluntary Carbon Standard (Technology partner: Climate Bridge Ltd).
The Certifi ed Emission Reductions (CERs) are issued by projects approved by the Clean Development Mechanism (CDM), created under the Kyoto Protocol and under the guidance of the UNFCCC (United Nations Framework Convention on Climate Change).
To be approved by the CDM, a project must fulfi ll a series of strict criteria (project settlement, quantifi able reduction of CO2 and realization of the project on long term basis).
The MYS has already been associated with the creation of three wind turbine sites: one in Northern China which resulted in the reduction of 157,129 t CO2 between 2005 and 2007, and two others in New Zealand (a reduction of 50,000 t CO2 recorded in 2006) and in India.
The show also participated in reforestation projects in Nairnside in Scotland and in
Querrien in France, as well as methane capture system in a Pennsylvania coal mine In the United States.
Another signifi cant measure, coherent with its ecologically-responsible engagements, the MYS prints its communication documents on Cyclus Print Silk paper, 100% recycled and thereby respecting the « Blue Angel » certifi cation, the strictest in printing; this corresponds to 18 tons of paper each year.
Introduced in Germany in 1977, the Blue Angel is the fi rst and eldest world-wide
environmental label.
It is awarded to the recycled papers that meet the strictest environmental
standard.
HOW MANY YEARS HAVE YOU BEEN HERE AND HOW OLD WERE YOU?
I started in February 1981 when I was 23.
IS THE COMPANY STILL PRIVATELY OWNED?
Yes, owned by me!
IS THAT AN ADVANTAGE OR WOULD YOU PREFER TO BE
PART OF A GROUP?
It depends on the strength of your shareholder and the
modus operandi. Personally I think we benefi t from being
privately owned in that we know exactly where we are,
exactly what we have got. We have operated the business
in a fairly prudent way – I have always been like that – we
know what money we’ve got in the bank, we know what
money is coming in, what money is going out, nobody
is making demands to withdraw money. We don’t owe
the banks any money. We are in quite a good position.
Certainly we have approaches from a number of clients
because they like to talk to – if you like – the principals and
feel that they are in safe hands. The perception is, given
some of the rumours you hear in the market, that actually
we are a fairly safe pair of hands.
YOU SAID A STRONGPOINT IS BEING A SALARIED TEAM
RATHER THAN INDIVIDUAL CONTRACTORS. DOES THAT
NOT PUT A HUGE STRAIN FINANCIALLY?
It’s a double-edged sword – we operate as one team
worldwide and all staff are salaried with senior personnel
also getting a profi t share. So that puts a strain in terms
of we have got to pay them – on the other hand the great
news is that they have got to turn up to work! That really
means something – it’s all hands to the pumps. With
the independent contractor – particularly the ones who
have probably made quite a lot of money – I think some
of them are saying ‘I’ll stay in my house in the country
for six months, I’ll get a few calls, go to the beach and
come back when the market picks up’. Terrifi c that they
can afford to do that but the company is still paying offi ce
space. We are seeing a good return – we are returning
people’s calls quickly.
YOU HAVE 100 STAFF OR SO?
We have 110.
I remember being impressed to hear you had 45 in the
London offi ce a couple of years back.
We have 65 now! Hats off to them. They are proud of their
positions. We have a yacht management team managing
50 boats and a technical team – which is unusual
for a brokerage company – overseeing probably 20 new
constructions. That’s a pay cheque at the end of every
month and that gives you real long-term cash fl ow.
HAVE YOU HAD PEOPLE SAYING THEY WANT TO LAY UP
BOATS WITH A SKELETON CREW ON BOARD?
A number of owners want to trim the budget to the minimum
and when we have trimmed it to the minimum they
want to trim it some more – that’s the market we are in at
the moment. They may anchor off somewhere like Toulon
or Tarragona, slightly cheaper locations.
ARE THERE DEALS IN PROGRESS?
There are deals, not the volume of deals but the market is
picking up. We have sold four boats this year. We have two
boats under contract at the moment (all over 40 metres).
ARE CLIENTS’ EXPECTATIONS CHANGING?
The problem is at the moment, in the old market somebody
would build a boat for 40 and expect to sell it for
50 so they are getting a 25% premium. You were blamed
if you didn’t sell it for 50. Today’s market is probably you
build the boat for 40 and right now you are going to sell
it for 30 so you are looking at not a 25% discount but
near 50% discount. So what a lot of owners are struggling
with is being told a year ago their boat was worth 50 and
you are now saying I’m not even going to get 40 – in fact
I’m only going to get what somebody is offering, which is
going to be 30. That is the market.
ARE THEY HANGING ON?
Yes they have been hanging on for prices at a high level.
My guess is that we will see a few more transactions at the
end of the summer at lower prices and prices will stabilize
not at the 30 but the 40. If you paid 40 million for a Benetti
you’ll get 40 million back.
WOULD YOU SAY IT WOULD HAVE BEEN BETTER TO
INVEST OVER THE LAST TWO YEARS IN A BOAT OR THE
STOCK MARKET?
I would say it’s probably similar. The problem with a yacht,
as you know, is the running costs. If you invested 50 million
in the stock market, what would it be worth today,
40 million or 30 I guess and if you bought a yacht for 50
eighteen months ago, what would it be worth today, 40 or
30. But interest on your capital would have cost you fi ve
percent and running costs fi ve percent.
ARE THEY GENERALLY BUYING WITH THEIR OWN MONEY
OR FINANCED?
I would say the larger the yacht the greater the chances
they are buying with their own money. There has been a
surge of yacht fi nancing, the banks have been knocking
on our door with ‘please let us lend money to your clients’
– they are not doing it any more but they were so there
were some great fi nancing deals around, quite a lot of the
30 to 60 metre yachts were fi nanced.
THEY ARE ACCEPTING MARKETS HAVE CHANGED AND
NOT BLAMING BROKERS FOR HYPING IT UP?
No I don’t think they are blaming brokers. As a broker
we have got a responsibility in the market – for example
we have been asked to do a lot of valuations for banks
recently and it is very important that we are completely
frank with what we consider the value to be. Values have
adjusted. For the owner who owns a large yacht that is
heavily fi nanced, relying on charter income to pay the running
costs, there is a serious situation. Owners who have
paid for their boats and do a bit of charter, but they are not
that bothered, are probably fi ne.
PRESUMABLY THERE WILL BE A LOT MORE NEGOTIATING
IN RATES AS PEOPLE COME IN AT THE LAST MINUTE?
With regards to charter, charter rates became very expensive,
very infl ated, driven by the Russians. That is a market
that will adjust and rates will come down to more realistic
levels. I think some charterers were overpaying for what
they got because that was all that was available. In previous
years people would turn up and say ‘we want to
book Slipstream because it is silver and black and got
jetskis’, now people don’t really care what boat they are
booking, they ask ‘Where are the deals? Which boats are
doing the best deals? Offer fi fty percent!’. So our charter
brokers and charter managers are having to do a lot more
brokering than before, because normally it would be the
rates are 300 a week and that’s it. Now somebody is going
to offer 180 (thousand).
ARE THERE ANY NEW TRENDS SUCH AS POWER VS. SAIL?
Not at the moment but I think we will see a little bit of a
trend towards sail in the future. I think we will see a trend
towards slightly smaller yachts – after the explosion in
megayachts – a lot of people that own an 80-metre might
wish they had a 65-metre, or the ones with a 120-metre
might say, ‘maybe I’ll sell my 120-metre and keep my
75’. There will be some owners who will think ‘I’d like to
do something for the environment, what can I do?’ and
actually it would be politically more correct to have a sailing
boat.
IS THE MARKET EVOLVING?
As I’ve said for the last fi ve years, all these boats have
been built and something has got to be done with them,
they have got to be sold, they have got to be bought, got
to be chartered, got to be managed, they have got to be
maintained and crewed, so the market is there even if no
more boats are built.
Jonathan
Beckett
CHIEF EXECUTIVE OFFICER
BURGESS
Jonathan Beckett joined Burgess (then Nigel Burgess) at the age
of 23, working in Monaco between 1981 and 1983 before moving
to London to spearhead the London operation. Under Jonathan’s
guidance the London offi ce has grown from a “one man band” to a
busy company of over 60 people! A BA graduate of Durham University,
during which time Jonathan represented England Universities at
rugby football, he is a keen yachtsman and has sailed extensively
throughout the Mediterranean, Aegean and Caribbean. Following
university he spent one year in Egypt running a sailing school at the
Arab Maritime Naval Academy and a year working as a yacht broker
in Athens for Halsey & Tzalas Marine. Jonathan’s primary involvement
is brokerage and new construction as well as taking overall
responsibility for the Burgess group of companies. He is an active
MIGHT BE AT LOWER PRICES?
It might be at lower prices but there is a market and there
are plenty of buyers in the market but it’s a matter of matching
the buyers and sellers’ expectations and they are
not quite there yet.
IS THERE A THREAT TO THE WHOLE ‘SYSTEM’? IS SOMEBODY
GOING TO COME ALONG AND SAY I CAN DO 1%
COMMISSIONS?
There is somebody who has come along and said I can do
1% commissions but the reality is good luck because frankly
if a company like Burgess or Camper & Nicholsons or Fraser
or Edmiston can’t sell all of our inventory direct to direct
clients – and we’ve been in the business for 30 or 40 years or
whatever it is, Edmiston 12 – and are relying on other brokers
to cooperate, a new company can’t possibly do that and
won’t be in a position to do it for 30 years. We have thought
about it in the past, cutting our rates from 10% to 3% to get
the listings but it looks as if the amount of money we are
earning is huge. But the reality is at the end of the day, by the
time we are done, it isn’t that much and you will not survive
on 1% – it is unsustainable. A client may say ‘I like the idea
of paying 1%’ but then they ask ‘how many years have you
been in business, how many clients have you got, how many
brokers have you got out there?’
THE OTHER BROKERS ARE NOT GOING TO BRING BUYERS
TO SOMEONE DOING THAT?
Exactly – they’ll probably hold an open day in the port and
invite all the brokers and nobody will come! The reality is
if you list a boat for 20 million there may be between a
million and a million and a half commission included in the
asking price. You’ll probably agree a price of 15 and there
is 800,000 included in the price. You are splitting it 60:40
so you are getting 320,000 yourself of which you have
probably spent fi fty thousand on brochures, promotions,
boat shows and advertising so you are actually getting two
hundred and something. You are not making one and a
half million actually, it maybe two or three hundred thousand.
Everybody sees the big fi gures! Our offi ce overheads
here are 800,000 a month so you sell a boat and make half
a million but this is a big business. We need to earn money
to keep the machine going! 1% is an unsustainable rate.
WHAT IS MOST IMPORTANT, A KNOWLEDGE AND EXPERIENCE
OF THE MARKET OR THE RELATIONSHIP WITH
THE CLIENT AND THE FLAIR OF THE INDIVIDUAL BROKER
GETTING ON WITH THE CLIENT?
Most of the clients expect us to know the product. That
is their expectation. They come to Burgess or Campers
and expect you to know the product. So much of it I think
comes down to personality, relationship, trust – do they
like you, feel they can get on with you. Obviously you have
got to be on the ball and present the deals that are out
there. We could be selling anything but it’s about the relationship
with the client at the end of the day.
TALKING OF SELLING ANYTHING, IF SLIMMING DOWN
WOULD THEY GET RID OF A BOAT OR A JET FIRST?
It rather depends on their lifestyle but I would imagine in
70% of cases it would be the yacht because the jet tends
to be not just something they take from New York to Nice,
to get on board their yacht, it’s something they are using
every day as a business tool to fl y around in. So the yacht
is more likely to go fi rst – but I could be wrong!
WHERE ARE YOU TARGETING GEOGRAPHICALLY, POCKETS
ETC?
We were all fairly heavily targeting Russia and Eastern
(Europe) countries over the last fi ve years and that market
has stopped dead in its tracks for charter and sales. The
Middle East is obviously still more active than some of the
other markets but you are only looking for one man, or one
woman, and he might be Swedish or he might be Mexican.
The thing is to try and fi nd out who is in the market,
who has got the money at the moment, and to really invest
a lot of time and energy in those people on an individual
basis because we are only dealing with a handful.
PRESUMABLY YOU ARE TRIMMING MARKETING BUDGETS,
ARE THERE NEW WAYS OF FINDING CLIENTS – SOCIAL
NETWORKING SITES?
Advertising, unfortunately, is not the way generally we fi nd
clients. We are advertising more as a corporate exercise and
some of the owners like to see their boats advertised. We probably
sell one boat every fi ve years from advertising. Do you
need 10 pages or two pages? Actually you probably don’t need
any pages is the reality of it – or one or two. The internet is becoming
increasingly important but there is no substitute for your
direct mailings, phone calls, networking. We have all trimmed
our advertising budgets and boat show budgets.
YOU HAVE OFFICES HERE, IN LONDON, NEW YORK?
We now have a total of nine offi ces – including Mumbai,
recently opened. We are, at the moment, possibly the only
brokerage company that has managed to retain 100% of
its staff ‘intact’ in these credit crunch times, which gives
me enormous pride – and the team really appreciates it.
We are obviously, like everybody, under fi nancial pressure
but we have organized ourselves in such a way that, to
me… the fact is that the company is the people, some
who have been here a very long time, some twenty years
or more, others fi fteen, my secretary has been with me
nearly eighteen years. Charles next door, who is 30, has
been with us nine years, Henry, who is 32, has been with
us 10 years – a lot of young people, actually with a lot of
experience, so the aim is to keep it together.
ARE THERE ANY OTHER WAYS TO KEEP MONEY COMING
IN, DIVERSIFYING?
Yacht sales I think, charter is low this year, management,
technical, we have got some boats building so that is
good news. Everybody is in survival mode. It’s not to do
with profi t, it’s to do with cash fl ow, it is all about managing
your cash fl ow. There are some years we have made very
good profi ts – this year will we make a profi t? I have no
idea. If you can survive the next, whether it’s 12 months
or 24 months, you are going to be in a very good position
to go forwards.
DO YOU THINK THE INDUSTRY WILL BE LESS SHOWY, A
LITTLE BIT MORE DISCREET? THE ACTUAL YACHTING
ITSELF I MEAN.
It used to be that owners would say ‘please don’t tell anyone
I’ve bought this boat, I don’t want anyone near the boat’.
Now you read ‘this yacht has been bought by Sir Thomas,
here is a picture of him standing on the aft deck’ – it’s rather
bizarre to us. As a company we were slightly slow to catch
on to that, we had always been cautious and discreet and
possibly not the moving with the time – at that moment when
people were proud. It may change and become a bit more
discreet again, and I think people will prefer to have a smaller
boat and not go for the 80-metres.
NEW BUILDS. IF SOMEBODY COMES ALONG WITH 50
MILLION THINKING OF BUYING A NEW BOAT WHAT WILL
YOU SAY?
There are opportunities in new construction market where
you could pick up a project that is under construction for
an attractive price and with an attractive delivery date. I
think the new build market will be the slowest market to
come back. There are not that many new-build enquiries
out there. It’s going to take the brokerage market to pick
up fi rst then the new-build market will pick up behind it.
The shipyards prices have gone up – that’s not the shipyard’s
fault – a lot of subcontractors like the interiors
contractors. You used to be able to build quite a nice
interior for 10,000 euros per square metre – it is now to
25,000 euros a square metre. In the last four or fi ve years
it has gone through the roof, it is not because that is what
the interiors cost but because of supply and demand.
SO NEW-BUILD PRICES MIGHT COME DOWN?
They will rationalize and not go up. I don’t think we will see
a crash in new-build prices, we will see a leveling off for
three or four years.
member of the Mediterranean Yacht Brokers Association (MYBA),
having sat on the Board of the Association from 1996 to 2008, served
as MYBA President from 2000 to 2002 and chaired the Sales
Committee for several years. Jonathan is now Director of MYBA’s
annual Superyacht Brokers Seminar. For many years he was also
a judge for the Superyacht Society Design Awards and sat on the
Board of International Yacht Council. He is a member of the Yacht
Club of Monaco and the New York Yacht Club. Since the opening
of a Manhattan branch in April 2004, Jonathan now divides his time
between the Monaco and New York offi ces.
In the 656 page limited edition «Super Yacht» published by Gloria
Books in 2007, the fi nal chapter is dedicated to the «Power 20 List»,
which is the result of a defi nitive, wide-ranging survey of modernday
yachting leaders, on who they consider to be the most infl uential
fi gures in the industry over the last thirty years. Topping the list of
brokers was our own Jonathan Beckett, who comes into the overall
list at No. 3, after the designer Jon Bannenberg and MALTESE
FALCON visionary, Tom Perkins. According to Ben Arogundade,
«Super Yacht» editor, ‘Jonathan Beckett has a reputation for securing
some of the most defi ning brokerage transactions in history
and is a popular, well-respected fi gure with designers, owners and
competitors alike’.
40 l 41
WHAT IS YOUR POSITION IN THE COMPANY?
I am described as a senior sales broker – senior in terms
of years rather than experience! I have been here 12 years.
WHEN WAS THE BEST YEAR FOR THE COMPANY?
The best years for C&N were also probably the best years
for the industry – the best years for the industry, as is well
known, were between 2002 and 2008.
A BUILDER SAID NOTHING HAS HAPPENED SINCE LAST
NOVEMBER IN THE MARKET?
No, that’s not true – we have deals going on. C&N completed
two sales for used boats in the last two weeks. I’m
not aware that we have signed up any new builds in the
last few months but we have certainly sold some brokerage
boats in the past few weeks.
HOW ARE CLIENTS FEELING? ARE THEY POSITIVE? ARE
THEY WAITING OR PREPARED TO SIGN AT A LOSS?
They still enjoy their yachts, they still love sailing or
yachting. For a lot of people it’s not that they can’t afford
their yacht – far from it – it’s that they can’t be seen to be
on their yacht when quite possibly in their own business at
home people are being laid off or contracts being cancelled
and so on – so a certain amount of tact is required. I
used to sail on Extrabeat with Agnelli and I can remember
Agnelli saying to me – and he was the most profl igate playboy
of his time – ‘I won’t be coming sailing for a while’ (this
was in the industrial crisis of the early nineties) ‘because
my group, Fiat, has laid off thousands of people and the
Italian magazines would love nothing more than to publish
pictures of me larking about on a boat on the Cote d’Azur
while so many people are losing their jobs’. I thought that
was quite good – he showed an awareness of the need
to be tactful.
ARE SOME OWNERS HAVING TO SELL?
Not many ‘fi re sales’. Where we have seen desperate
‘must-sell’ situations it has generally been a bank repossession.
I am involved in a couple of those at the moment.
ARE THERE BOATS WITH SKELETON CREW,
MOTHBALLING?
We have had threats from owners this year saying they
are tightening their belts, ‘half the crew can go, we’ll
anchor up somewhere sheltered and sit it out’. In reality
we haven’t seen much of it happening.
THEY ARE GETTING READY FOR THE CHARTER SEASON?
Some boats are doing really well with lots of bookings.
Xanadu (60m Benetti) will do 18 weeks this year including
the Caribbean. That’s a bumper year – like the good old days!
HAVE THEY CHANGED THEIR PRICING TO MAKE IT
ATTRACTIVE?
The owner is being much more fl exible. That hasn’t necessarily
meant discounting. He is more fl exible on things like
delivery fees and so on. I think of all the people in the
industry who have reacted to this crisis, the crew have
reacted the slowest. Crew still talk about their pay packages,
their tips and terms and conditions of employment
as if we were still in the boom years.
I HEARD THAT NOW MAY BE A GOOD TIME TO GET BETTER
CREW?
Maybe hungrier crew – the work ethic still prevails. We are
told by the MCA and others there is a maximum number
of hours and the offi cers are supposed to have their own
mess. The way things are going we’ll be building boats for
crew if the legislation gets much tougher!
WOULD YOU SAY IT WOULD HAVE BEEN BETTER TO
INVEST IN A BOAT OR THE STOCK MARKET TWO YEARS
AGO?
With hindsight, probably a boat.
DOES ANYONE HAVE A PERCENTAGE DROP IN VALUE OF
BOATS?
I can’t quote a number. I’d be reluctant to. If you have
got to leave your money somewhere for fi ve years you’d
be more inclined to leave it on the stock market than in
a yacht but when the stock market is not performing
a lot of people say that ‘rather than watch my pile of
money dwindling I’ll get my money out and enjoy it’.
WOULD THEY GET RID OF THEIR BOAT OR JET FIRST?
The boat. Of all the things they need: the kids’ private
education, a good health program, holiday home in the
mountains, race horse, art collection, private jet, his
yacht is the very last. It’s the one he needs least and
the hardest to justify to his family and accountant. So,
the answer is the yacht is the fi rst thing to go. A jet you
can easily justify.
HAVE CLIENTS’ EXPECTATIONS OF BROKERS CHANGED?
They expect brokers to be proactive, to bring to their
attention any really good deals that may be out there.
When it comes to selling – a client selling his yacht –
he expects me to come out with innovative ways to do
so. Buying a page in a yachting magazine is no longer
enough. You have got to be working the phones and
calling and explaining to people the merits of that particular
yacht – and why they haven’t bought it yet!
DO YOU DO COMPARISONS?
You try to anticipate what the buyer might be doing. Say
you have a 35 to 40-metre Huisman ketch for sale, you
imagine the buyer is going to have a look at that boat and
ask ‘what else is there similar?’ There may be a couple of
Alloys and a Perini that might work for him – so we do that
comparative work in advance for the seller. So he knows
if someone comes and says ‘how come your boat is two
million more than that boat?’ you are ready.
ON THE VALUES NOW, ARE NEW-BUILD PRICES DROPPING?
They have dropped to some extent but it’s hard to get
a feel for that because I don’t think many people have
signed up original new build contracts in the last three
months. Feadship did in December, but things have got a
lot worse since December. What the yards have done is a
bit of stock clearing – they’ve had a few boats in build, not
necessarily ‘on spec’, but the existing owners may have
defaulted or be struggling on stage payments and they
have asked the yard to help them out. The yard has gone
to the market to sell those boats that are already in build.
They are helping out their clients.
ARE THERE NEW TRENDS FOR POWER OR SAIL?
I think there is a very slight increase in the level of interest
registered in sailing yachts – I don’t know whether that is
to do with fuel. I think there is a general perception that
sailing yacht crew are generally easier to get on with, more
forgiving, they have a purer seagoing ethic than motor
yacht crew – rightly or wrongly, I’m not necessarily saying
I agree.
IS THERE A MAJOR EVOLUTION IN INDUSTRY ABOUT TO
HAPPEN?
A year ago there were a huge number of boat builders
and peripheral players in the industry, many of which sadly
have either gone out of business or been forced to consolidate.
We have lost Ferretti who have since reformed and
morphed into something else. Benetti has laid off a bunch
of people, all the yards have. I don’t see a particular trend
other than a tightening up.
WILL IT BE MORE EFFICIENT?
To talk about a trend, we were all talking a year or two ago
about the biggest, latest, most extravagant yachts. New
standards were being set in extravagance and wild ostentatiousness
– that’s defi nitely come to an end. The days of
Pelorus being outdone by something else, in turn outdone
by something else, are over.
Neil
Cheston
SENIOR SALES BROKER
CAMPER & NICHOLSONS INTERNATIONAL
Neil Cheston spent fi fteen years racing and delivering sailing yachts,
completing two Whitbreads and countless Fastnets, Hobarts, Maxi
worlds etc. before washing up on the beach in France and settling
down as a yacht broker in 1991. He co-founded BCR, then left them
in 1997 to join Camper and Nicholsons as a sailing yacht specialist.
He inadvertently stumbled into motor yachts, and apart from a good
number of brokerage deals he also has a dozen new build projects
up to 65 metres in length behind him.
He’s getting on a bit now, but CNI still let him into their Monaco offi ce
occasionally, when he’s not out sailing on his own yacht, ROSBIF.
Neil was also recently elected to the Presidency of MYBA, which
has a number of exciting projects underway for the benefi t of the
yachting industry at large.
>>
42 l 43
ARE PEOPLE LAYING UP YACHTS WITH SKELETON
CREW?
The Edmiston Yacht Management Division has put
together what we call a ‘hibernation package’ to
look after people that do want to but that hasn’t
really happened yet. The package is ready for the
one or two owners that may choose to and they can
lay off their crew and we look after them at a very
realistic cost. I have heard of a number of sailing
racing yachts (that are only commissioned on a seasonal
basis) that are not going to be commissioned
this year.
ARE THERE ANY TRENDS FOR SAILING YACHTS?
My belief is that there will be a greater emphasis on
more economical yachts – but having said that the
price of fuel is about a third what is was this time
last year so maybe it is not such a worry.
WHAT IS MOST IMPORTANT, A KNOWLEDGE OF THE
MARKET AND EXPERIENCE OR THE RELATIONSHIP
WITH THE CLIENT AND THE FLAIR OF THE BROKER
DOING THE DEAL?
One leads to the other really. The flair of the broker
is vitally important – first of all the client has to have
confidence in the broker otherwise he wouldn’t
deal with us. We do have in-depth knowledge of
the market.
GEOGRAPHICALLY WHERE ARE THE NEW PROSPECTS
COMING FROM?
I certainly won’t mention in public as otherwise our
competitors will be out there! I think there are areas
where we will see some growth but that the traditional
markets will come back. My personal view
is that one of the biggest problems we have right
now is that people’s style of spending money has
changed. The more flamboyant spend is out. I had
a lunch yesterday at (Club) Cinquante-Cinq – it was
absolutely full. But that, in a way, is not ostentatious
whereas if you went to Voile Rouge or Nikki Plage it
would be quite interesting to see whether they are
as busy. I suspect maybe they are not.
WHAT IS THE EDMISTON SPECIAL SELLING POINT?
I JUST ASKED A COMPETITOR AND THEY SAY THEY
HAVE THE BEST GROUP OF KNOWLEDGEABLE BROKERS
OF ANY COMPANY.
Let’s ask Chris (Cecil-Wright) what he thinks about
that! (buzzed on speakerphone and joins us).
CCW: ‘We have the best group of knowledgeable
brokers!’
NE: We have probably got the best selection of listings
too.
CCW: Yes, we probably have the best quality biggest
boats – we continuously do current comparisons.
We have certainly been the first & most ferocious
to react.
NE: We saw this downturn – last summer in August
when I was interviewed by Piers Morgan, I talked
then about a downturn in the market. We were the
first people to downsize.
IF CHOOSING BETWEEN BUYING A NEW OR USED
BOAT WHAT DO YOU SAY IS BEST WHICH IS BETTER
VALUE?
CCW: The value is in the deals. The deals come
from people in the market that know. Our brokers
know. You only know if you have really close relationships.
You might see a price tag but you don’t
know his situation unless you have a relationship.
If there is a certain deal at a certain time with a
shipyard we’ll know about it and it could be a deal.
NE: One of the big differences is that this time last
year, if you wanted to buy something between 65
and 75 metres, there was probably one yacht available.
Today there are probably a dozen and some
very good quality yachts. I would be very surprised
if somebody went directly to a new build today
unless there is something specific they want that
they can’t get from the secondhand market. If they
really want a new build, they might be able to buy a
new build in the process of being built.
THE VALUE OF THE BOATS AT THE SHOW WAS SAID
TO BE TWO BILLION EUROS TWO YEARS AGO. ANY
IDEA OF THE VALUE THIS YEAR?
CCW: For show planning they need to know what
is going to be there. The whole point of sales is
you don’t know what will be there. We would hope
to sell all our listings before the show and have a
whole new fleet there!
NE: One of the things we want to make sure is that
Monaco Yacht Show is the premier brokerage show
for big yachts. We and about four other companies
lead yacht brokerage from Monaco. Monaco-based
companies probably account for about 70% of the
major brokerage deals in the world. It’s a very safe
place to be.
CCW: Almost every owner has other interests here
and even if not it is pretty safe to say that every big
new yacht will have visited Monaco at some stage.
NE: They also come here to go shopping. And from
the security point of view, people don’t come here
to get their photographs taken.
Nicholas Edmiston has been a prominent fi gure in the yachting
industry for almost 40 years. He is one of the most highly regarded
individuals in the world yachting business.
In 1996, Nicholas founded Edmiston & Company with the specifi c
aim of serving the very top end of the yachting business. Edmiston
achieved immediate success in both sales and charter. Over the
last twelve years the company has maintained exceptional growth,
consistently being involved in many of the largest brokerage transactions
and prominent charters.
In recent years, Nicholas Edmiston has been involved with some of
the world’s very largest yachts, acting for owners in the matter of
purchase, sale, new construction and charter.
44 l 45
WHAT IS YOUR BACKGROUND BEFORE – AT FEADSHIP?
I was between the two families and a director at
Feadship responsible for sales and marketing then for
the last four years also managing director of De Valk
Naval Architects, the design & engineering company.
WERE YOU DOING SALES THERE? BROKERING IN A
WAY? NOW?
I was doing sales, yes. It’s the same industry but a completely
different position. Then I started at Frasers two
years ago, fi rst responsible for sales brokerage then,
after a year, also for charter and marketing – and now
since February the whole shebang… worldwide.
ARE THERE ANY ADVANTAGES BEING PART OF A GROUP
WITH BENETTI OR ARE YOU INDEPENDENT?
We operate quite independently in some ways but
we have two shareholders, one is Azimut-Benetti,
the other is V-Ships. V-Ships is a ship management
company and we use a lot of their knowledge and
resources for all kinds of things. Even for tickets –
they have 20,000 crew, we have 60 officers in the
world so we use them for logistics, so at V-Ships
we have good relationships on operations. Our relationship
at Azimut-Benetti is that we are now developing
services for the Benetti fleet specifically and we
also have the Azimut Charter Club that is something
we built up, branded with our name, Fraser Yachts,
but we share the knowledge of the group. That’s one
of my tasks to execute these.
WHEN WAS THE BEST YEAR FOR FRASERS?
In numbers I think 2007.
ARE OWNERS STAYING POSITIVE OR ARE THEY ANGRY
AT THE PRICE DROPS?
Firstly, in terms of the number being sold, worldwide
sales in 2008 were about half of 2007 –
secondhand boats that is. It’s just started to pick
up again since April – people feel it is time to move
again, quite positive.
HAVE YOU HAD ANY SALES THIS YEAR?
Yes, since January, four – every month we have had a
sale. We need to! The last six months boats that we are
selling have been smaller ones but since April things are
picking up in newer and bigger boats. The prices are
now about 35 to 40% lower than the infl ated high prices
we have seen in the past. What you see is that not every
seller wants to sell for that price but you can see there
are buyers coming back in the market that have been
out for many years – they thought they were overpriced.
They are saying maybe it’s time to buy a boat again. It
is more experienced yachtsmen that are buying boats
now and less new fi rst-time buyers.
ARE YOU CUTTING COSTS TO KEEP LEAN?
What we do is two things at the same time. We are
reducing costs where we can in staff and marketing and
offi ce overheads. At the same time, we are like our own
clients and trying to take advantage of positive opportunities
– we just took over a group of experienced brokers
in Palma de Mallorca (Juergen Koch). Last year we
also started an offi ce in Mexico. We also hired a couple
of very experienced new brokers that came from other
companies. So we are reducing costs by 15-20% but at
the same time we are able to attract new, experienced
people. In sales and also in charter we are now better
tuned than a year ago. In total we have fi ve new sales
brokers that have a very good track record.
THE MOVE TO BIGGER OFFICES IN MONACO, WAS
THAT A SAVING GOING TO THE FONTVIEILLE BUSINESS
DISTRICT?
We were already in Fontvieille. We had three offi ces in
Monaco and moved from three to two. We have the
Rascasse offi ce, the Pastor offi ce and closed Avenue
d’Ostende.
YOU SAID SOME CLIENTS ARE HANGING ON TO SELL,
ARE SOME OF YOUR CLIENTS LAYING UP THEIR BOATS
IN MOTHBALLS WITH SKELETON CREW?
There is a trend to reduce crew in general or even
putting in mothballs, but in total I think only five percent
or less – it’s a serious number but not as if a
quarter of the boats are doing that. There is a risk
though as to keep these boats in good condition
takes more than a few ‘guards’ with all the machinery.
There is a risk of saving costs in the short term but
losing long term.
IF SOMEBODY HAS A PRIVATE JET AND A YACHT, WHICH
WILL THEY GET RID OF FIRST?
I think the jet. If you look at the jet market, it dipped
stronger than the yacht market – also because using
a jet is also very expensive, I’d assume that came fi rst.
Then a jet is not only used privately but also for business
so selling the plane is more visible.
WOULD YOU SAY IT WOULD HAVE BEEN BETTER TO
INVEST OVER THE LAST TWO YEARS IN A BOAT OR THE
STOCK MARKET?
I don’t believe in investing in yachts. Yachts are irrational,
emotional products. I have a boat myself so I know
it just doesn’t make sense at all – still we all do it and
we love it! There are of course some people that make
money from buying a boat and selling it for a good profi t
but in general it’s not an investment.
HAVE YOU NOTICED CHANGE IN THE EXPECTATIONS OF
THE CLIENTS, DEMANDING MORE OF THE BROKER?
What we have to do of course is doing much more in
today’s market to sell a boat than a year or two years
ago. It takes much longer so more advertising, more
‘maintenance’, more work to sell a yacht and to fi nd
a buyer. But that doesn’t mean the client is happier
with you because at the end of the day he wants his
boat sold. Our task is more diffi cult to make the sellers
more realistic and adjust the price to the current market.
There’s also a good reason not to do that – and that
is to enjoy your yacht! Hold it for another two or three
years and look at it again. The best thing that you can
do with a yacht is to enjoy it! It is possible to sell but you
have to sell at the right price and that is not always what
the sellers want to hear.
ARE THERE TRENDS GOING FOR SAIL BOATS THAN
POWER – MORE ENVIRONMENTALLY AWARE?
No, I would say that if there was a trend to go more
‘green’ then people will move from motor boats to sail
boats because most energy in a yacht is always put in
the propulsion. But that’s not happened. What we do
see is more people want – especially for the new builds
of course – to be thinking about green, but they still
want to have a motor boat!
YOU DID QUITE A NICE ‘GREEN BOAT’ PROMOTION – DID
THAT GET INTEREST?
Yes, by the way we were using a hull more like a sail
boat than a motor boat hull because motor yachts were
never developed in a way to make them really effi cient.
Hein
Velema
CHIEF EXECUTIVE OFFICER
FRASER YACHTS
Hein studied economics at the Free University in Amsterdam. He
worked for ten years as a business consultant before he joined
Feadship. As the Director of Sales and Marketing and later as the
CEO of De Voogt, Feadship’s design and engineering, he developed
an extremely high reputation in the yachting industry. Hein was also
the Chairman of the Holland Yachting Group and President of the
Superyacht Builders Association.
Hein is a musician, composer and enthusiastic sailor.
So there is a lot one can still do. She was done with
Holland Jachtbouw, Azure Naval Architects and Andre
Hoek for styling.
WOULD YOU POINT A NEW BUYER TO A NEW OR A USED
BOAT?
Strangely enough, the number of clients we are talking
to (a couple at a very serious stage now) is still
the same as last year and the year before. For Fraser
Yachts, in the past it was never strong in new builds
but that is picking up well. There are a lot of opportunities
with people that want to step out of new build projects
where a buyer can step in half way. You have the
advantage of relatively short build periods and prices of
maybe two years ago.
CAN YOU NEGOTIATE HARD ON THE PRICE OF A NEW
BUILD YACHT?
Clients negotiate harder now. The shipyards have less
possibility to drop their price as their profi t margins are
not crazily high and if you cut 50% of your profi t the
average buyer will still not invest.
WEREN’T SOME OF THE BIG BUILDER BRANDS MAKING
BIG MARGINS?
There was a huge infl ation in costs of building. Now
some of those are less so the cost of building is slowly
coming a little bit down and the ‘expected infl ation’ is
going down – that was also part of the pricing – and
then of course because of the market situation profi ts
are under pressure. So those three factors make it possible
to negotiate strongly with the shipyard.
ARE BROKERAGE FEES GOING TO BE EFFECTED?
First of all, they are 35% down because the prices are
35% down!
ARE THERE ANY THREATS SUCH AS LOW COMMISSIONS
OR ONLINE FIRMS NEW TO THE MARKET – OR IS THAT
NO THREAT?
You should never say that there is not a threat. At this
moment that is not gaining any serious market share
so it is not happening yet. Things are changing and
what I do see is that we, at Fraser Yachts, are happy
– also I see with our competition – being creative to
reach clients directly. Our advertising and marketing,
like the internet, is only is only a very small part – it
is the direct contact with buyers to advise them what
they really want. They need to have somebody to talk to
and there are not many people out there looking to buy
on the web saying ‘ok that’s what I need to buy’. They
need good product knowledge and then you go through
the whole process. What I see now is clients are picky
– but more for the quality broker than for a low commission.
They want to have a good guidance – do-ityourself
guys like you and I use the web for holidays but
superyacht buyers don’t have the time. If you become
a sales broker you spend a lot of years learning – you
can’t do it all from day one.
IS A DEPTH OF KNOWLEDGE AND EXPERIENCE OF
THE MARKET OR THE INDIVIDUAL BROKER FLAIR AND
PERSONALITY DEALING WITH THE CLIENT BEST TO
ATTRACT THE CLIENT?
First of all you need to have more tastes on offer. There
is not ‘one broker fi ts all’. That’s why we have people
from all nationalities for example – it’s not just a UK
culture.
ARE THERE ANY GEOGRAPHICAL AREAS YOU ARE TARGETING,
TALKING OF LANGUAGES?
In charter the American market is much stronger than
the rest. Actually we are very optimistic about the American
charter market.
SOME COMPANIES SAY IT WILL BE CASH FLOW THAT
IS MOST IMPORTANT TO SURVIVE THIS NEXT 12 OR 24
MONTHS?
We are lucky like that, we have a huge yacht management
department that is strong and our crew department
– then we have very strong parents but at this
moment we haven’t had to ask for money from them.
You have to make cuts and look at what is really important.
It’s not always easy – if you look at it as an investor
it’s easy, if you are in the middle of it, it is diffi cult and
emotional.
WHAT IS FRASER YACHTS’ SELLING POINT OVER OTHER
TOP HOUSES?
First of all, we are more international than the others
with a huge variety of nationalities and not dominated
by English culture but also Italian and also North American.
We are number one in yacht management and
number one in crew so on service side we are strong.
Our goal is to focus more on yacht owners and develop
more services for owners and let other services follow
– in short to make our service part stronger than the
sales part.
AND THE MONACO YACHT SHOW?
It is the most important show for our industry. It needs
more space though for yachts!
© Copyright 2009 / Nick Jeffery Yacht Publicity
46 l 47
yachting
Monaco
capitalof by Nick Jeffery
Serial yacht builder and serious gambler Kenneth Clark arrived in Monaco for the
1903 winter season aboard his new G.L. Watson & Co. designed steam yacht
Katoomba II. The casino was the main focus of his attentions but when Mme Heriot
(mother of famous sailor Virginie Heriot) enquired if she might visit his palatial yacht
he gladly invited her. Evidently impressed, she lightly remarked that she « would
give anything for such a yacht ». « Anything? » enquired the gambler to which his
guest answered favorably but added that she would want immediate possession.
That night Mr Clark moved into the Hotel de Paris whilst Mme Heriot enjoyed her
new 250-foot steam yacht.
Dr William Collier, Managing Director of G.L. Watson & Co. (the world’s first yacht
design studio), provided this anecdote and, as a preeminent classic yacht restoration
specialist, is the type of guest one might expect to find aboard the Yacht Club
de Monaco’s gaff cutter Tuiga, celebrating her centenary this year in the Monaco
Classic Week (16-20 September).
About the same time, in 1905, Albert 1er, Prince of Monaco, said at a conference:
« I sincerely hope that, by enlarging the horizon of oceanographic studies for you,
I have been able to show you that marine spaces – so much more vast than terrestrial
spaces – possess countless subjects for study among which biologists and
afterwards philosophers, will find material and intellectual riches for humanity ».
Monaco’s marine spaces and territorial waters (extending 12 nautical miles offshore)
are larger than its two square kilometers of terrestrial space. Nicholas Edmiston –
one of the Principality’s subjects worthy of study – believes the recent extension of
the port was one of the significant factors in attracting visiting yachts to stay: « It
is now a safe haven, well protected providing a comfortable anchorage, even with
an Easterly swell outside », adding « it is also a nice place to live, crime-free with
excellent security – and no paparazzi ».
Monaco is like a society hostess that can appear almost austere to newcomers
but after a few months of subtly courting her and confiding your interests – while
she discreetly has your background checked out – she may invite you to stay and
even open a few doors for you. A number of top yachting brands’ directors have
won her over and enjoy the benefits of her ‘little black book’. But you’ll need to
use plenty of charm and assets to get on her A-List for the glamorous balls or the
private Grand Prix parties. It’s a unique environment where an early-morning run
along Larvotto beach or a stroll around the port at lunchtime could have you bump
into superyacht owners, major industry players or even stars (Michelin ones on the
Port Palace terrace). A birthday party aboard the 73m Silver last spring saw one
rock star at the edge of her outdoor dance floor – more exclusive than Jimmy’z
that night – overlooked by thousands of windows. Silver is one of this year’s most
significant sales to date – naturally involving a Monaco broker and a Monaco Yacht
Show soirée last September.
48 l 49
Luc Pettavino, President of the Chambre Monégasque du Yachting, links the Principality
and yachting « Monaco is important for yachting and yachting important
for Monaco. It is a longterm source of prestige and income for Monaco, with great
potential to grow as Monaco is now the premier yachting port of the world ». As
for the Monaco Yacht Show that he has presided over for nearly two decades, he
adds: « Professional and private clients have identified for some time now, that this
is the premier rendezvous for top-end yachting. The F1 Grand Prix and MYS are
the two most prestigious and highest-grossing annual events for the Principality ».
Leading brands such as Wally – founded in Monaco in 1993 – choose Monaco as
« the only place to be! », Liveras Yachts – owners of some of the world’s largest and
most successful charter yachts, with spas to match Les Thermes Marins de Monte
Carlo – has been here for a decade while countless brokerage houses (Burgess,
C&N, Charter & Charter, Edmiston, Fraser, Imperial, Moravia, Ocean, IYC, Yachtzoo,
YCO, YPI…) between them closing the majority of large yacht sales deals
worldwide, expand and contract their office space according to market share. Independent
consultants are ubiquitous too – Paul Archer of Arrow Yachts who set up
14 years ago, operating at ‘the other port’ in Monaco’s business district, Fontvieille,
says « It is a service centre with a critical mass… on the Riviera, where the yachts
are – a tremendous advantage over offices in London or the Isle of Man ». Only
Yacht was established in Monaco just a couple of years ago and has quickly gained
market share in yacht insurance, its local advertising and sponsorships, together
with its property connections no doubt giving it a boost – and Riviera Radio, next
door, broadcasting to every yacht from Sanremo to St Tropez.
yachting
Monaco
capitalof by Nick Jeffery
Evenæ thoseæ notæ basedæ inæ Monacoæ stillæ chooseæ itæ asæ aæ
displayæ platformæ andæ frequentlyæ visitæ toæ meetæ clientsæ
and trade. Dutch builder ICON Yachts launched itself
three years ago at MYS and this year has chosen
to unveil the first new, much-anticipated, ICON 62
inæ theæ port.æ Heræ designers,æ Redmanæ Whiteleyæ Dixon,æ
whoæ haveæ attendedæ theæ showæ sinceæ itsæ beginning,æ
runæ RWDæ Touræ Autoæ •æ aæ classicæ caræ rallyæ fromæ theiræ
studios in Beaulieu, UK – to Monaco. The convoy
ofæ brandedæ Porsches,æ Ferrarisæ andæ well-preservedæ
Englishæ bodyworkæ passingæ theæ Automobileæ Clubæ deæ
Monacoæ upæ pastæ theæ Casinoæ Square,æ attractsæ almostæ
asæ muchæ attentionæ asæ advertisingæ pagesæ inæ theæ leading
media. Boat International hosts an annual party
atæ lÍ Hermitage,æ thisæ yearæ launchingæ Theæ Superyachtsæ
book in Monaco rather than London, ShowBoats
International has held its awards and Bal de la Mer in
Monaco for nearly 20 years, Boat Exclusive launched
atæ Monacoæ lastæ year,æ whileæ theæ Financialæ Timesæ hostsæ
its FT Business of Luxury Summit – now in its fifth
yearæ •æ inæ Monaco,æ withæ theæ likesæ ofæ LVMHÍ sæ Chairman
& CEO Bernard Arnault in the line-up. MCM
celebratesæ itsæ 21stæ anniversaryæ inæ Monacoæ thisæ year,æ
oneæ ofæ manyæ yachtæ showæ partiesæ thatæ vieæ foræ aæ slotæ inæ
journalistsÍ æ agendas.
Researching material for the book ‘Luxury Toys – Mega Yachts’ and enjoying a lunch on
the terrace of naval architect Espen Oeino, he confirmed that he and his team « findæ inspirationæ
lookingæ atæ theæ boatsæ comingæ inæ andæ outæ ofæ theæ portæ æé andæ ‚ æ dueæ toæ theæ highæ concentrationæ
ofæ professionalsæ •æ andæ ofæ clientsæ •æ itæ isæ effectivelyæ theæ yachtingæ centreæ é. æ Theæ 10-minuteæ
helicopter hop to Nice airport or the 10-minute walk to the Yacht Club de Monaco (YCM)
foræ aæ sailæ oræ aæ networkingæ cocktailæ partyæ provideæ aæ quickæ escapeæ fromæ theæ drawingæ boardæ foræ
more stimulation. The new YCM building, designed with Foster & Partners and ready in
2012,æ willæ provideæ evenæ betteræ facilitiesæ attractingæ youngeræ members.æ Thisæ isæ notæ onlyæ aæ clubæ
foræ largeæ yachtsæ suchæ asæ theæ elegantæ SSæ Delphineæ •æ whoæ hadæ theæ honouræ ofæ Stephanieæ ofæ
MonacoÍ sæ presenceæ atæ heræ baptismæ •æ butæ alsoæ anæ activeæ sailingæ club,æ hostingæ internationalæ
regattasæ suchæ asæ theæ Primoæ Cup,æ withæ raceæ ruleæ eveningæ classesæ andæ regularæ racingæ fromæ
school children up. HSH Prince Albert, YCM President for 25 years, sails aboard Tuiga,
often helmed successfully by YCM General Secretary Bernard d’Alessandri. La Belle
Classeæ Traditionæ lastæ yearæ openedæ itsæ armsæ toæ embraceæ todayÍ sæ superyachtsæ too;æ whileæ theæ
club hosts the second annual World Yacht Racing Forum in December – a global platform
foræ theæ mostæ importantæ sailingæ events,æ racingæ teams,æ proæ sailors,æ raceæ managersæ andæ topæ
venues – unimaginable maybe for yachtsmen participating in the Principality’s first sailing
regattas in 1862, or its first international events for motorboats in 1904.
Theæ Princeæ Albertæ IIæ Foundationæ (fpa2.com)æ carriesæ onæ hisæ familyæ traitæ ofæ doingæ somethingæ
positiveæ foræ theæ environment,æ withæ climateæ change,æ biodiversityæ andæ wateræ supplyæ itsæ threeæ
areas of activity. Along with the likes of the Monaco Scientific Center (known for its Red
Coralæ research)æ andæ theæ beautifulæ Oceanographicæ Museumæ (100æ nextæ year),æ theyæ shareæ aæ
wishæ toæ keepæ Monacoæ aæ centreæ ofæ innovationæ inæ itsæ approachæ toæ theæ environment.
Aæ centuryæ afteræ theæ Katoombaæ IIæ incident,æ oneæ ofæ MonacoÍ sæ mostæ lovedæ yachtæ ownersæ
confided to a colleague with a smile before a date, «æ Ifæ sheæ playsæ heræ cardsæ rightæ tonight,æ
sheæ couldæ beæ theæ owneræ ofæ aæ superyachtæ inæ theæ morning!æé •æ asæ theæ funæ sideæ ofæ yachtingÍ sæ
bonæ viveursæ andæ environmentalæ leadersæ rubæ shoulders,æ Monacoæ hasæ rockæ solidæ foundationsæ
toæ growæ upon.
Inæ 2109æ perhapsæ thereæ willæ beæ storiesæ sharedæ onæ theæ terracesæ ofæ theæ ‚ æ coolest,æ earlyæ 21stæ
centuryæ designæ Yachtæ Clubæ deæ Monacoæ æé withæ low-energy,æ seawater-cooledæ air-conditioning,
æ ofæ ‚ æ theæ oldæ daysæ whenæ theyæ evenæ allowedæ diesel-poweredæ yachtsæ intoæ theæ port,æ andæ
petrol-enginedæ Ferrarisæ aroundæ theæ F1æ GPæ trackæ •æ ofæ courseæ thatæ wasæ beforeæ MonacoÍ sæ
ideas,æ asæ theæ Worldæ Capitalæ ofæ Yachting,æ trickledæ intoæ mainstreamæ designæ inæ theæ 2020sƒ æ é
50 l 51
Below them in the port, meanwhile, the proud owner of a patented Dyson-powered Clean superyacht – who took possessionæ
lastæ nightæ • æ hasæ heræ crewæ (lessæ thanæ halfæ ofæ themæ robots,æ asæ peræ currentæ Monacoæ Flagæ Rules)æ launchæ theæ tenderæ
to join a colourful fleet of lovingly-maintained, Wallynanos. She has come to defend her centenary world championship
titleæ (‚ æ heræ greatæ grandfatheræ wonæ theæ Dragonæ mastersæ backæ inæ 2029!æ é)æ and,æ asæ theyæ sailæ outæ ofæ theæ harbouræ pastæ theæ newæ
superyacht quay on La Digue, smiles up at the gentleman waving from his Hotel de Paris window…
MonacoæF 1æGr andPrixæ2009æ-æcop yright:æyach tpublicity.com
Pictures of the future Monaco Yacht Club – copyright: © Foster+Partners
Here we have two lines of business that have long been
considered totally independent of each other and, more
importantly, not apparently in competition. The Monaco
Yacht Show (MYS) itself has for years been the stage for
this style juxtaposition, exhibiting splendid refits alongside
daring new builds with complete impartiality.
Refits and the MYS, that indeed is a relationship that works
to perfection and i t’s no sheer chance that the loveliest
examples of refitting have always been exhibited in Monaco.
Every year the MYS provides the opportunity to appreciate
the reappearance of yachts believed lost forever. Here Cristina
O, Giant, Over the Rainbow and Delphine have made
their comebacks alongside new yachts straight out of the
shipyards, such as Delta’s Laurel, Feadship’s Utopia and
Oceanco’s Anastasia and Alpha Nero, to give just those
examples. However, everyone agrees that the refit business
is changing fast and now covers a market considerably
broader in scope than that of simply rehabilitating vintage
yachts and converting merchant vessels.
&
The wind
has changed
& The wind
has changed
By Renaud Jourdon
52 l 53
A highly structured business
After long being carried out by what might be described as artisans,
refitting today is taking on a whole new dimension through
the appearance of shipyards devoted entirely to it, many of them
established on disused industrial sites already equipped with lifting
equipment and big enough to accommodate increasingly large
yachts. The Mediterranean Basin is particularly well endowed with
such shipyards – Monaco Marine, Composite Works, IMS, ITM, H2X,
Fosselev, Tréhard, to name but a few – to which are added sizeable
ones on France’s Atlantic coast, in La Rochelle and Saint-Nazaire for
example. But the biggest surprise, and one that demonstrates just
how interested shipyards are in this business, is that some European
shipbuilders have also begun carrying out refits, such as Pendennis
in the UK, De Vries in the Netherlands and of course Benetti in Italy.
In short, the entire European luxury yachting industry is now involved
in the refit business, not as a complete change of direction but simply
as a means of maintaining work le vels through an activity that is
just as valorizing as building new yachts.
Obviously those who were already specialized in this line of work
are now reaping the fruits of their investments, one case in point
being Monaco Marine, the only company functioning as a netw ork
of shipyards, its pride and joy being the outstanding La Ciotat site,
an investment that today is proving to be an unparalleled work tool.
Tremendous diversity
In addition to the variations in form and size of the shipyards involved
in refitting, geographically this business has spread a long the Mediterranean
coast and over the last few years up the Atlantic coast
as well. La Rochelle has become a hub of feverish activity, with one
important feature that Chris Atkinson of ACA Marine, specialized in
painting large craft, points out:
«We have lots of space on the Atlantic coast, whether here in La
Rochelle or in Saint-Nazaire. Few harbours can launch the Octopus’s
127 meters as was done for ITM! And then we have a highly qualified
workforce and subcontractors who work on only one yacht at a time.
That increases the quality and considerably reduces waiting times.»
>
& The wind
has changed
This diversity also extends to the services on offer. Some shipyards
specialize in cosmetic work, again with different services available
depending on whether the work involves repainting the exterior or
refitting the interior. Others focus specifically on mechanical and
technical maintenance, the sector that is now holding up the best
in the face of the global credit crunch. «We’ve witnessed a drop in
turnover and above all in the number of orders coming in for cosmetic
work, repainting included. On the other hand, the demand for
all technical and maintenance work is stable,» points out Alberto
Spina of Composite Works. The same is true for Mirko Lorenzi at
the Monaco Marine shipyard in Beaulieu, who explains: «Our work
is now focused on the technical maintenance that has to be carried
out on a yacht for it to conserve its full potential throughout a season.
In the past it wasn’t uncommon to sign contracts worth more
than one million euros, a big budget given the size of yacht we can
accommodate. Now the sums are notably smaller and essentially for
work that is really indispensable.» Jean-Christophe Lenoir at the ITM
shipyard confirms this analysis, even thought the yachts entering his
dry dock are much larger: «We’ve been spoilt by contracts worth
several million euros, as for Octopus, Tatoosh or Skat, and now we
have to learn to adapt. We’re dealing with a lot more small- and
medium-scale essential work, so much in fact that the first half of
2009 looks like being the best we’ve had for a long time. Nevertheless,
it’s still good to conserve the possibility of carrying out a
large-scale refit that takes a longer time and enables us to boost our
subcontracting.»
Higher quality
Like all of the luxury yachting industry, in prosperous tim es the refit
market wasn’t deaf to the song of the sirens. «Our shipyards were
literally snowed under with work and that didn’t always allow us
the necessary objectivity, plus very often there was just one project
manager to deal with everything. Now our work projects aren’t so
lengthy and we can be more objective so as to crank the quality up
a notch. We’re putting several project managers on a single project,
each with a specific role,» emphasizes Jean-Christophe Lenoir at
IT M. The same goes for Vincent Laroque of Monaco Marine in La
Ciotat: «The on-site investments we’ve made, whether in the spray
hangar or the handling equipment, are now increasing the quality of
all our services. We could be fearful of this recession but day-to-day
business is proving we’re on the right track; the contracts signed
before September 2008 and the start of the recession have all been
maintained. The only work that has practically disappeared is extravag
ant and costly refits. It’s up to us to adapt to this new climate.»
Unexpected but foreseeable competition
«Although the fir st six months of this year were excellent, the second
half doesn’t look quite so promising and part of that is due to the
arrival of new competition, already established, from shipbuilders
su ch as De Vries and Benetti, who’ve both opened refit departments,
» comments Jean-Christoph e Lenoir at ITM.
This topic is likewise touched on by Vincent Laroque of Monaco
Marine, also obliged to compete for his future against these big
names: «If we don’t start to see an end to the recession and there
are therefore few or no new builds in sight, many of these shipyards
are going to come to the end of their order books and fall back on
refitting, it’s unavoidable.»
So although workloads and occupancy rates don’t for the moment
seem to be an overriding concern for refit shipyards, it’s nevertheless
inevitable that very rapidly they’re going to be up against competition
f rom yacht builders themselves.
Many fa ctors are likely to change before September 2009 and everything
points to the MYS once again being the theatre where all the
new trends for the months and years to come are revealed.
© Photos DR
54 l 55
2009 the
MYSLAYOUT
yachtsa selection of yachts presented at the MYS 2009
2009 exhibitors
A ABBæ
ABEKINGæ&æR ASMUSSENæ
ABSæMUL TIMEDIAæNE TWORKæ
ABUæDHA BIæ
ABUæDHA BIæMA Ræ
ACEBIæ
ADMIRALæ
AGCæMA RINEæTE LECOMæ
AGUSTAWESTLANDæ
ALæHI LALæGR OUPæ-æA RABIANæKNI GHTæ/æTHE æ
GULFæ
ALEWIJNSEæMA RINEæS YSTEMSæ
ALEXSEALæY ACHTæ COATINGSæ
ALFAæY ACHTSæY ARDæ
ALLIAURAæMA RINEæ
ALLOYæY ACHTSæ INTERNATIONALæ LTDæ
ALPHABRIDGEæGMB Hæ&æCOæKGæ
ALUæMA RINEæ
ALULANDæ
ALUSHIPæTE CHNOLOGYæL TDæ
AMELSæ
AMICOæ&æCOæS RLæ
AMYæ(A DMIRAL)æ
ANDERSENæWI NCHESæ
ANTæ
ANTIGUAæ &æ BARBUDAæ YACHTINGæ DESTINATIONæ
ARREDAMENTIæP ORTOæ SRLæ
ARROWæS ERVICESæMONA COæ
ART-LINEæI NTERIORSæ
ASCOMAæMA RITIMEæA SSURANCESæ
ASEAæP OWERæS YSTEMSæ
ASIAæP ACIFICæ BOATINGæ/æCHI NAæB OATINGæ
ASTILLEROSæDE æMA LLORCAæ
ATALANTAæGO LDENæ YACHTSæ
ATLANTICæMA RINEæF vLORIDAæL LCæ
ATLASæMA RINEæS YSTEMSæ
AVONæCO MMUNICATIONSæS Aæ
AWLGRIPæE UROPEæ
AZIMUTæY ACHTSæ
AZUREæNA VALæA RCHITECTSæB .V.æ
B BæY ACHTSæ
BACCARATæ
BACHMANNæMA RINEæS ERVICESæ
BALTICæY ACHTSæ
BARRACUDAæY ACHTæ DESIGNæ
BCMæI LLUMINAZIONEæS RLæ
BENETTIæ
BERRET-RACOUPEAUæ
BESENZONIæS .P.Aæ
BILLIONAIRE500æL TDæ
BLOEMSMAæV ANæB REEMENæ
BLUEæW ATERæY ACHTINGæ
BLUEGAMEæY ACHTINGæ
BMTæNI GELæGE EæL TDæ
BMWæ
BOATæI NTERNATIONALæME DIAæ
BOEROæCOL ORIæF RANCEæ
BOOGAERDTæR OYALæTI MBERæ&æR OYALæ DECKæ
BOOTEæE XCLUSIVæ/æB OATæE XCLUSIVEæ
BRIANDæY ACHTæ DESIGNæ
BRITISHæ MARINEæ FEDERATIONæ -æ SUPERYACHTæ
UKæ
BRITISHæ VIRGINæ ISLANDSæ
BRUNTONSæ PROPELLERSæ LTDæ
BUREAUæ VERITASæ
BURGERæ BOATæ COMPANYæ
BURGESSæ
C CAMARAæ DEæ COMERCIOæ DEæ MALLORCAæ
CAMPERæ &æ NICHOLSONSæ INTERNATIONALæ
CAMPERæ &æ NICHOLSONSæ MARINASæ LTDæ
CANTIERIæ DIæ PISAæ S.P.Aæ
CANTIERIæ NAVALIæ BAGLIETTOæ S.P.A.æ
CASTALDOæ GMBHæ
CASTOLDIæ S.P.A.æ
CATEFæ SRLæ
CATERPILLARæ
CATHELCOæ
CAYAGOæ AGæ -æ SEABOBæ
CAYMANæ ISLANDSæ SHIPPINGæ REGISTRYæ
CERRIæ CANTIERIæ NAVALIæ S.P.A.æ
CHAMPAGNEæ LANSONæ
CHANTIERSæ BAUDETæ
CHARTERæ &æ CHARTERæ
CIMOLAIæ TECHNOLOGYæ SPAæ
CMBæ
CMNæ YACHTSæ
CNBæ
CNMæ CANTIERIæ NAVALIæ DELæ MEDITERRANEOæ S.P.A.æ
COBHAMæ SATCOMæ -æ SEAæ TELæ PRODUCTSæ
COCKWELLSæ MODERNæ &æ CLASSICæ BOATæ
BUILDINGæ LTDæ
COLINæ SQUIREæ PUBLISHINGæ
COLUMBUSæ CANTIERIæ PALUMBOæ
COMPOSITEWORKSæ
CONSILIUMæ MARINEæ ITALYæ SRLæ
CORæ D.æ ROVERæ DESIGNæ
CPRæ GROUPæ
C-QUIPæ INTERNATIONALæ
CRAMMæ MARINEæ HYDRAULICSæ
CRNæ S.P.A.æ
CUMMINSæ ONANæ
D DAHMæ INTERNATIONALæ
DANISHæ YACHTæ
DARIELæ
DASSAULTæ AVIATIONæ
DEæ AGOSTINIæ PERIODICIæ
DEæ VALKæ INTERNATIONALæ B.V.æ
DEFIæ TECHNIQUEæ SAæ
DELTAæ MARINEæ
DERECKTORæ SHIPYARDSæ
DESIGNæ UNLIMITEDæ
DEUCEæ
DEUTSCHEæ YACHTENæ
DEVONPORTæ
DIXONæ YACHTæ DESIGNæ
DOCKWISEæ YACHTæ TRANSPORTæ
DOMINIONæ MARINEæ
DOYLEæ SAILMAKERSæ
DRETTMANNæ GMBHæ
DRUMARKONæ INTERNATIONALæ B.V.æ
DUBOISæ NAVALæ ARCHITECTSæ
DUBOISæ YACHTSæ LTDæ
DYKSTRAæ &æ PARTNERSæ NAVALæ ARCHITECTSæ
E E3æ SYSTEMSæ GROUPæ
EAMSæ -æ NOVURANIAæ EUROPEæ
EDMISTONæ &æ COMPANYæ
EGGæ ANDæ DARTæ DESIGNæ CORPORATIONæ
ENERGYæ SOLUTIONSæ (UK)æ LTDæ
EQUIOMæ
ERCUISæ &æ RAYNAUDæ
ERWINæ SATTLERæ
ESTHEC¬ ,æ Aæ DIVISIONæ OFæ BOLIDTæ
E-TECHæ GROUPæ LTDæ (YACHTING)æ
EUROCOPTERæ
EVENTSæ CLOTHINGæ
EXENDISæ
F FARSOUNDER,æ INC.æ
FEADSHIPæ
FERRETTIæ S.P.A.æ
FINANCIALæ TIMESæ /æ HOWæ TOæ SPENDæ ITæ
FINCANTIERIæ YACHTSæ
FIPAæ ITALIANAæ YACHTSæ
FLANDERSæ YACHTINGæ
FLIRæ SYSTEMSæ
FLOATINGæ LIFEæ
FOGLIZZOæ LEATHERæ
FORBESLIFEæ
FORTISæ INTERTRUSTæ
FRASERæ YACHTSæ
FREEæ TECHNICSæ B.V.æ
FRERSæ NAVALæ ARCHITECTUREæ &æ ENGINEERINGæ
FRETTEæ SRLæ
FUCHSæ FÉ RDERTECHNIKæ AGæ
FURUNOæ FRANCEæ SASæ
FUTUREæ FIBRESæ RIGGINGæ SYSTEMSæ
G GASPARDæ YACHTSæ
GEHRæ GMBHæ
GEPYæ (GROUPEMENTæ DESæ EQUIPAGESæ PROFESSIONNELSæ
DUæ YACHTING)æ
GIANNESCHIæ PUMPSæ &æ BLOWERSæ SRLæ
GINTONæ NAVALæ ARCHITECTSæ
GLASFIKSæ INTERNATIONALæ
GLASS-DECOæ INTERNATIONALæ B.V.æ
GLOBALæ BSIæ
GLYNæ PETERæ MACHINæ A/Sæ DESIGNæ BETWEENæ
ANDæ BEYONDæ WALLSæ
GORDONæ S.æ BLAIRæ LAWæ OFFICESæ
GORIæ PROPELLERæ A/Sæ
GRAMAæ BLENDæ GMBHæ
GREENLINEæ YACHTæ INTERIORSæ
H H+Mæ ELECTRONICæ SYSTEMSæ GMHBæ
H2æ YACHTæ DESIGNæ LTDæ
72 l 73
HAKVOORT SHIPYARD
HALL SPARS & RIGGING
HAMANN AG
HARKEN
HEADHUNTER
HEADLAND
HEESEN YACHTS
HEINEN & HOPMAN ENGINEERING B.V.
HEIRLOOMS
HEMPEL
HILL ROBINSON YACHT MANAGEMENT
CONSULTANTS
HISWA HOLLAND YACHTING GROUP
HODY [C] INTERNATIONAL
HOEK BROKERAGE
HOEK DESIGN NAVAL ARCHITECTS
HOLGER HAMANN CONSULTING
HOLLAND JACHTBOUW
HUG ENGINEERING AG
HUMPHREYS YACHT DESIGN
HYDROMAR B.V.
I ICON CONNECT
ICON YACHTS B.V.
IDROMAR WATERMAKERS
IL NORMANNO
IMTECH MARINE & OFFSHORE B.V.
INFORMA YACHT GROUP
ING LEASE FRANCE YACHT FINANCING
INTERNATIONAL PAINT LTD
INTERNATIONAL YACHT COLLECTION
ISA – INTERNATIONAL SHIPYARDS ANCONA
ISLE OF MAN YACHT & AIRCRAFT REGISTERS
IVAN ERDEVICKI NAVAL ARCHITECTURE &
YACHT DESIGN INC.
J J CRAFT BOATS
JADE YACHTS
JFA SHIPYARD
JL COQUET
JOHN PERCIVAL MARINE ASSOCIATES/HOYLAKE
SAILING SCHOOL
JONATHAN FAWCETT LTD
JONGERT
JOTUN IBERICA
K KAHLENBERG
KELVIN HUGHES LTD
KEVIN GLANCY LIMITED
KINGSHIP
KOHLER POWER SYSTEMS
KUSCH YACHT
KVH EUROPE A/S
L LALIQUE
LEVIATHAN MARINE
LEWMAR
LINDSTAEDT YACHTAUSRUSTUNG GMBH
LINTEA MARE
LIST GENERAL CONTRACTOR
LLOYD’S REGISTER EMEA
LM IDRAULICS
LOHER RAUMEXKLUSIV GMBH
LOPOLIGHT
LORIMA CARBON MASTS
LUNGOMARE
LÜRSSEN YACHTS
LUSBEN
LUXEMBOURG FOR BUSINESS
M MAGNUM MARINE
MAJESTIC
MALTA SUPER YACHT SERVICES
MANSON ANCHORS
MARELUX S.A.
MARIN
MARINA BARCELONA 92
MARINELEC TECHNOLOGIES
MARIOFF CORPORATION OY
MARITIME AND COASTGUARD AGENCY
MARQUIP B.V.
MAX POWER
MAXI DOLPHIN
MAXWELL
MC EDICIONES S.A – GRANDES ESLORAS
MC FARLANE SHIPDESIGN
MCMULLEN & WING LTD
MECCANONET
MEDAIRE
MELITA MARINE GROUP
MERLE WOOD & ASSOCIATES
MONACO BOATYARD SERVICE
MONACO EQUIPAGE
MONACO MARINE
MONACO YACHTING & TECHNOLOGIES
MONDOMARINE
MOONEN SHIPYARDS
MOORES ROWLAND
MORAVIA MONTE CARLO
MTU FRIEDRICHSHAFEN GMBH
MUIR WINDLASSES AUSTRALIA
MULDER DESIGN
MYT
N N.R. KOELING B.V.
NAKHIMOV YACHTS
NAUTICA EDITRICE S.R.L.
NAUTICAL STRUCTURES
NAUTILUS UNDERWATER SYSTEMS
NAUTOR’S SWAN
NAVICO
NCP – NAUTICAL CENTER PRGIN
NEORION YACHTS
NEW JET INTERNATIONAL
NEW ZEALAND YACHTS
NEWCRUISE YACHT PROJECTS & DESIGN
NOBISKRUG GMBH
NORDIC MAST A/S
NORTHERN LIGHTS
NORTHROP AND JOHNSON
NZ MARINE
O OCEAN INDEPENDENCE
OCEAN MEDICAL INTERNATIONAL LTD
OCEANAIR MARINE LTD
OCEANCO
OCRA MARINE
OLDENBURGER MÖBELWERKSTÄTTEN GMBH
ONLY YACHT – GROUP SUISSCOURTAGE
ONYX MANAGEMENT LIMITED
OT OLIVER TREUTLEIN GMBH
OYSTER MARINE
P PALAGI SRL
PALLADIUM TECHNOLOGIES, INC.
PALMER JOHNSON
PANTAENIUS
PASCOE INTERNATIONAL
PELAGOS YACHTS LIMITED
PENDENNIS
PENSUM LTD
PERI YACHTS
PERINI NAVI
PETER INSULL’S YACHT MARKETING
PINMAR SL
PORT ADRIANO
PORTO MONTENEGRO
POWER & MOTORYACHT
PRIVATSEA CLUB
PROFESSIONAL YACHTSMEN’S ASSOCIATION
PROMEMORIA
PROTEKSAN TURQUOISE YACHTS INC.
Q QUANTUM MARINE ENGINEERING
R RADIO HOLLAND NETHERLANDS (GROUP)
B.V.
RADIO ZEELAND DMP
RAINSFORD MANN DESIGN LTD
RECKMANN YACHT EQUIPMENT GMBH
RED LION YACHTING SARL
RENE VAN DER VELDEN YACHT DESIGN
REVIVAL SUPERYACHT
RINA S.P.A.
RIVA S.P.A.
RIVIERA COTE D’AZUR ZEITUNG
RIVIERA RADIO
RIVIERA YACHTING NETWORK
ROBB REPORT
ROBINSON MARINE INTERIORS LTD
ROMEO MARINE LLC
RONDAL
ROYAL DENSHIP
ROYAL HUISMAN SHIPYARD B.V.
ROYAL TENDER
ROYALE OCEANIC
RVS MONTFOORT
S SAFEHAVEN INTERNATIONAL LIMITED
SAIL MARINE SYSTEM
SAIM MARINE
SAM ELECTRONICS
SAM TOUT BOIS
SANCE CONNECTIONS LTD
SANLORENZO S.P.A.
SANS SOUCI
SARNIA YACHTS LTD
SCARO DESIGN
SCHNAASE INTERIOR DESIGN
SCHOTTEL GMBH
SELEX YACHT TECHNOLOGIES
SENSORY INTERNATIONAL
SERDANELI INTERNATIONAL
SERVOGEAR AS
SERVOWATCH
SEVENSTAR YACHT TRANSPORT B.V.
SHAWATI’ MAGAZINE
SHOWBOATS INTERNATIONAL
SILVERLINING
SILVESTRIS AQUAMOTIVE
SIMCOCKS YACHT AND AIRCRAFT MANAGEMENT
LIMITED
SIREHNA
SITMAR
SLCE WATERMAKERS
SLEIPNER MOTOR AS
SMALLWOOD’S
SMART AIR
SMEF
SOCATA
SORAYA YACHTS
SOUTHAMPTON YACHT SERVICES LTD
SOUTHERN SPARS
SOUTHERN WIND SHIPYARD
SP THE MARINE BUSINESS OF GURIT
SPARKMAN & STEPHENS INC.
STOLK MARIMECS BV
STRUIK & HAMERSLAG B.V.
STURGE INTERNATIONAL SERVICES SARL
SUMMIT FURNITURE (EUROPE) LTD
SUNDECK SARL
SUNREEF YACHTS
SUNRISE YACHTS
SUPER YACHT BASE AUSTRALIA LTD
SUPERYACHT BUSINESS
SUPERYACHT INDUSTRY
SUPERYACHT OWNERS’ GUIDE
SUPERYACHTFRANCE
SYNFO.COM
T TAI PING
TAMSEN YACHTS
TANKOA YACHTS
TEAM ITALIA
TELEMAR YACHTING
THE BEST SUPERYATES & MARINAS
THE NATURAL MAT COMPANY LTD
THE RIVIERA TIMES
THE WORLD OF YACHTS & BOATS
THE YACHT REPORT
THG
THIBAULT VAN DER STRAETE
THYSSENKRUPP MARINE SYSTEMS AG
TIJSSEN ELEKTRO
TILSE – INDUSTRIE UND SCHIFFSTECHNIK GMBH
TRANSMER ASSURANCES
TRIMLINE SUPERYACHT INTERIORS
TRINITY YACHTS
TRIPP DESIGN
TTS SHIPS EQUIPMENT GMBH
TURNSTYLE DESIGNS LTD
TVSAT2 DESIGN
12THSENSE
U U-BOAT WORX B.V.
ULYSSE NARDIN
UNDERWATER LIGHTS EUROPE SARL/SEA VISION
V VAN DAM NORDIA SHIPYARD
VAN DER VELDEN® MARINE SYSTEMS
VAN PETEGHEM LAURIOT PREVOST
VARADERO PALMA
VAUDREY MILLER
VECTEK MARINE
VECTOR DEVELOPMENTS LTD
VICEM YAT
VIDEOWORKS
VIKING RECRUITMENT LIMITED
VILANOVA GRAND MARINA BARCELONA
VIRGIN ISLAND SHIPPING REGISTRY
VISTRA MARINE
VITTERS SHIPYARD B.V.
VOLEVATCH
VRIPACK®
VSY
VT NAIAD MARINE
VULKAN SHIPYARD
VUYK ENGINEERING GRONINGEN B.V.
W WALLY
WARSASH MARITIME ACADEMY
WERNER YACHT DESIGN
WESTPORT
WILSON YACHT MANAGEMENT LTD
WORLD FUEL SERVICES (ex TRAMP OIL & MARINE)
X XSMG WORLD
Y YACHT & SAIL
YACHT LIFELINE
YACHTGLASS
YACHTING DEVELOPMENTS
YACHTING MAGAZINE
YACHTING PAGES
YACHTING PARTNERS INTERNATIONAL
YACHTLITE
YACHTWERFT MEYER GMBH
YACHTZOO
YCO
YVES DELORME PALACE
Z ZEBEC LIMITED
ZUCKER & PARTNER GMBH
ZUNINO MARM
74 l 75
For more information,
Visit http://www.monacoyachtshow.com
and review the web pages some exhibitors have created.
INTERNATIONAL
The magazine reporting on the key issues
directly a ecting today’s large-yacht crew
™
InternatIonaL & BusIness MedIa partners
LIfestyLe MedIa partners
onLIne MedIa partners
regIonaL MedIa partners
regIonaL Broadcast partner
76 l 77
aLso present In the
Mys press Lounge
Amouage,æ Architecturalæ Digestæ Italia,æ Bereg,æ Boatæ Attitude,æ Cª teæ
magazine,æ Monacoæ Seaside,æ Monteæ Carloæ Society,æ lÍ Observateuræ deæ
Monaco,æ Oceanæ magazine,æ Prestigeæ Hongæ Kong,æ Skippers,æ Wan-Jia,æ
Yachtæ Premiere
Thanksæ alsoæ toæ theæ hundredsæ ofæ otheræ TV,æ radioæ andæ printæ journalistsæ • æ moreæ thanæ 400æ accreditedæ inæ 2008æ -æ thatæ featureæ theæ MYSæ everyæ year.
E A M S
atyourservice
general
Kabuki . . .
. . .
“dazzling,”
exotic ” “
“brilliant,”
…dazzling, brilliant, exotic…? Are we talking about
Kabuki or about Monaco? Could be either!
With its history for over 400 years, Kabuki is one of
Japan’s finest cultural assets. Recent international
tours have included such world-famous theatres as
the Opéra Garnier and the Palais de Chailot in Paris.
And now it is to be hosted by the glittering principality
of Monaco.
While the samurai warriors preferred the refined Nō
theatre, the townspeople of feudal Japan (1603-1868)
loved Kabuki and it has continued to thrill audiences
with its unique blend of stylised acting, dance and
music. The three characters which make up the word
are ka which means “song”, bu which means dance
and ki which means acting skill.
The star actors for this tour will be Ichikawa Danjūrō
XII and his son Ichikawa Ebizō XI. Kabuki is a hereditary
theatre and their line stretches back to Danjūrō
I who lived from 1660 to 1704. The present Danjūrō
succeeded to this stage name in 1985 in series of
gala performances which ran for more than three
years, including the Metropolitan Opera House, New
York. His son Ebizō is the latest member of the Ichikawa
acting dynasty and is currently one of Kabuki’s
brightest young stars.
The play Narukami – “The Thunder God” is a chance
to see Kabuki at its most spectacular. Danjūrō takes
on the title role and Nakamura Tokizō V plays Princess
Taema, one of the great parts for the onnagata – the
male actors who perform female roles.
Kagami jishi – “The Mirror Lion” is one of the most
famous Kabuki dances. One actor dances the first half
as a refined young lady and the second as a raging
shishi – a mythical lion, which swings its long trailing
mane around its head in the stunning finale. This will
be a chance to see the young star Ebizō in this brilliant
tour de force.
The exciting and colourful world of Kabuki is not to
be missed!
September 16 > 19, 2009
Salle Garnier, Monaco
Play «Narukami» (actor: Danjuro) Play «Kagami Jishi» (actor:Ebizo) Play «Narukami» (actors: Danjuro XI
and Nakamura Tokizo V)
Kabuki – za Theatre (Ginza, Tokyo)
Salle Garnier, Monaco, September 2009
92 l 93
of enjoying life on the sea
the YACHT
CLUB DE
MONACO art
informa yachtgroup
global leaders in yachting events
by Luc Pettavino, Managing Director Monaco Yacht Show
THE MYS ORGANIZING TEAM
THE
The development of projects with The Carbon Neutral Company
in partnership with Camper & Nicholsons
OFFICIAL SPONSORS ………………………………………………………………………………….11
ONLY WATCH 09 ……………………………………………………………………………………….. 17
The third edition of the world’s renowned charity luxury watch auction
PORTFOLIO ………………………………………………………………………………………………… 26
by Pierre Pettavino
CHANGING MARKETS ……………………………………………………………………………….. 39
The ‘big four’ brokers reveal opinion and trends in the superyacht market
by Nick Jeffery
MONACO, WORLD CAPITAL OF YACHTING …………………………………………….. 48
Why the Principality has become the world’s main spot in superyachting
by Nick Jeffery
REFIT & NEW BUILD, THE WIND HAS CHANGED ……………………………………. 53
The refi t business is evolving fast and now covers a much wider market
by Renaud Jourdon
MYS 2009 LAYOUT ……………………………………………………………………………………. 56
by Randal Pizzardini Borg
YACHTS ………………………………………………………………………………………………………. 58
A selection of yachts presented at the MYS 2009
EXHIBITORS ………………………………………………………………………………………………. 73
The MYS 2009 exhibitor list
MEDIA PARTNERS …………………………………………………………………………………….. 76
AT YOUR SERVICE …………………………………………………………………………………….. 79
Services at your disposal during the MYS
GENERAL INFORMATION ………………………………………………………………………….. 83
STAYING IN MONACO & NEARBY …………………………………………………………….. 84
Plan your stay
MICHELIN’S GUIDE ROUGE 2009 …………………………………………………………….. 86
Monaco’s best restaurants
RED ARROWS …………………………………………………………………………………………….. 91
The heights of British excellence at Monaco
KABUKI ………………………………………………………………………………………………………. 93
The dazzling Japanese play in Monaco
YACHT CLUB DE MONACO ………………………………………………………………………. 95
The art of enjoying life on the sea and respecting etiquette
INFORMA YACHT GROUP …………………………………………………………………………. 96
Introduction to the major yachting events run by the Informa Yacht Group
l 1
editorial
6 l 7
CONTRIBUTORS
Nick
Jeffery
Monaco, world capital of
Yachting
Changing Markets
Nick Jeffery lives in Monaco and
specialises in media relations,
marketing (yachtpublicity.com)
and yachting journalism. He is a
qualified naval architect, former
Editor of Boat International and
author of the book Luxury Toys -
Mega Yachts.
Renaud
Jourdon
Refit & New Build
Former editor of Yachts
Magazine and president of the
Yachts Trophies; he is still a
journalist and a communication
and marketing consultant for
numerous companies involved in
luxury yachting.
Pierre
Pettavino
Portfolio
Freelance official photographer of
the MYS.
Randal
Pizzardini
Borg
MYS computer art 2009
Freelance graphic designer and
illustrator, Randal Pizzardini Borg
has lived in Paris for five years
and is passionately dedicated
to developing and arranging
his own graphic mythology for
publishing and multimedia.
randal_pizzardini@hotmail.com
Sebastien
Ravisy
Magazine Design
Graphic designer for the agency
La langue du Caméléon,
Sebastien Ravisy has been
involved with the creation of all
publishing and web support for
the past five last years.
EcoCmOLmOiGtmICeAnLt
Monaco Yacht Show : an ongoing
8 l 9
