Leaders

Ferretti Group, Stefano de Vivo, Ferretti Yachts, 1000, Pershing, Riva, Custom Line, Wally, Italy, Cannes Yachting Festival, WHY 200

Exclusive interview with Ferretti Group’s Stefano de Vivo

Leaders / yachtstyle2020

Exclusive interview with Ferretti Group’s Stefano de Vivo

December 2, 2021
4:58 pm

Even though Ferretti Group racked up over US$1 billion in sales in the first nine months of 2021, CCO Stefano de Vivo says the Italian conglomerate is continuing to focus on advancing and widening its range of models to keep its iconic brands as front-runners in their sectors. Interview: John Higginson.

Stefano De Vivo

Alberto Galassi said “I have never seen anything like this in my seven years as CEO” when talking about Ferretti Group’s recent sales figures, which include orders in the first nine months of 2021 exceeding €900 million (US$1 billion). What’s behind the current demand?

It looks like Covid has helped us convince everybody that they need a boat! Mr Galassi and I started as CEO and CCO in 2014 when the turnover of Ferretti Group was about €100 million and now you can see what our turnover will look like for 2021. For sure, the market is really good, and we’ve never seen sales going so well. It has been an incredible run for Ferretti Group, which has many new products, renewed many products and even created new segments in the market.

A current theme among builders is the struggle for production to keep up with demand. How is Ferretti Group managing?

I’ve worked in the industry for the best part of 20 years, so I don’t forget the Global Financial Crisis of 2008 and 2009. I also don’t forget the years before that, when it was a fantastic market growing like no tomorrow, although there was a lot of financing then and we’re not seeing that as much today, which is important.

Ferretti Yachts 500 in Hong Kong

However, we’re not in a rush to increase our capacity. There’s no need to double the moulds because who knows what’s going to happen tomorrow. It may be better to sell a few less because we still sell a super-exclusive product. If we were to double the mould, for example, of a Pershing 8X and we were to build 10 or 12 a year instead of four or five, would there be that many people ready to buy it? Maybe right now, but you’re diluting the brand.

Also, if you increase your production capacity, at some point you must make CapEx investments. We’ve already made those in recent years and we’re happy with our brands, models and the units we’re producing. If we increase more and you have a downturn, like 2008 and 2009, you’re going to be in a very difficult situation.

Pershing 6X was among the Group’s premieres at the Cannes Yachting Festival

However, we are expanding our range of models. Ferretti Yachts has gone up to 100ft with the 1000. When we bought Wally, we moved into the outboard sector, then this year we created the WHY200, which is a completely new segment. Pershing has great brand recognition, so we’re leveraging on that to create the TØ, which again is going to be a new segment when it’s introduced in 2022.

Remember, Covid has made many people buy boats for the first time and made people who had a boat decide to upgrade, but that doesn’t mean they’re going to change their boat every year. Our recent sales include 40 per cent to repeat clients, 20 per cent from the competition and 40 per cent first-time boat buyers. We’re not always going to have that increase each year.

After the Pershing 140 and Riva 50 Metri represented new flagships for both brands in 2019, Ferretti Yachts has enjoyed a lot of attention in 2021 with the 1000, its biggest model to date. How has it been received?

We’ve already sold at least 16 units (as of September 2021). However, for the reasons we’ve discussed, we’re aware sales are not always going to be like this.

Ferretti Yachts’ new flagship 1000 debuted in mid-2021

Ferretti Yachts had its 50th anniversary in 2018 and this year it deserved to be back in the spotlight because the 1000 is just something else. We even sold one over the Internet when there was complete lockdown at the beginning of Covid. It’s just a fantastic design, a fantastic layout and leveraged on the Group’s experience with the Riva 100’ Corsaro and the bigger Custom Lines.

Ferretti Yachts now has a real flagship for its clients. It has a tremendous number of clients who are affectionate to the brand and not all want to upgrade to a Custom Line. When we use the tagline, ‘Just like Home’ for Ferretti Yachts, it’s true. We try to think about that boat in a completely different way. You should feel like you’re at home.

It has recently been a new era for Ferretti Yachts with four models with exteriors by Filippo Salvetti and two, the 500 and 1000, with interiors by IdeaeItalia. How have the new designs been received?

We started this new path with the 850, with external design by Zuccon [International Project]. It was the first Ferretti Yachts model after I joined Ferretti Group at the same time as Mr Galassi. We completely changed the interior and went for a minimalistic interior. Some clients love it, but we probably overshot and were losing a little bit of our base.

IdeaeItalia handled the interior of the Ferretti Yachts 1000 interiors

With the new design team, we have a great balance. Filippo Salvetti is doing a fantastic job, bringing new modern lines but not forgetting the heritage traits Ferrettis have always had. I think the 1000 is a beautiful boat to look at and it’s a very clever boat.

For the interiors, I think IdeaeItalia managed to find the balance we needed – modern, contemporary, with the option of a warm one and a lighter one, but not too extreme, not too minimalistic. As I said, ‘Just like Home’ must feel homely.

You said you expect Wally to be a cornerstone of the Ferretti Group business within three-five years. Since acquiring the brand, you’ve launched the 48 and 43wallytenders and WHY200, will debut the 58wallypower in January and are building some sailing yachts. It’s an iconic brand, but can it really reach production levels to financially compete with the likes of Riva, Ferretti Yachts and Custom Line?

Absolutely. Because if you think about it, having the niche brands – and Wally is one of them – you cannot build too many of the same thing. That’s why, for example, we could have doubled the line of a mould of a 48wallytender.

The 43wallytender X debuted in early 2021

Between the inboard and outboard version (X), we’ve now delivered 35 units (as of September 2021) and sold more. We could have sold many more, but we don’t want to do it. We’ve limited our production to a mix of inboard and outboards of about 12-15 units a year. If you have 15 units of the 48wallytender in the same place, you’re not going to feel very special after you bought something top of the range. That’s why we don’t over produce.

However, Wally can become as large as we’re predicting because we can build the various Wallytenders, more Wallypower models, WHY range models, the big 165 Wallypower we designed with Espen Øino, plus full custom boats in steel and aluminium. We can build any range we want.

The first Wally 101 sloop was sold in early 2021

We also have sailing, which is the cherry on the cake. The brand was born with sailing and it can bring nice revenues, plus we have a Wally class that can show how our performance cruisers are more comfortable to cruise than our competitors’. They’re also the fastest to race because you’re going to be faster if you use carbon in the best manner, like if you design with the knowledge of Wally’s design team and the naval architects we use.

Having launched Riva’s Flybridge range with the 90’ Argo, 100’ Corsaro and 110’ Dolcevita and then added the 50 Metri, there has been a focus on smaller Rivas this year. In the Sportfly range, there’s the upgraded 76’ Perseo Super, while the Open range now includes the 68’ Diable with a hardtop, while hardtops were added to the [48ft] Dolceriva and 56’ Rivale. Why did you start adding cover to Open models?

More and more people don’t want to be in the sun all the time and a hardtop just makes it so much easier. You always have some shade and if you need more shade, it’s easy to fit an extra bimini, which looks better with a hardtop than on an Open boat. Rivas are super sleek, super beautiful, but we finally convinced ourselves that we’d have to accept a little compromise in beauty, as a boat with a hardtop is never going to be as beautiful as a boat without.

Riva’s new 68’ Diable incorporates a hardtop

The American market was a push, while it’s so hot in Asia Pacific, although in Hong Kong people have started using small open boats for water-skiing and wakesurfing, and for fun and swimming. In the Med, people sneered at hardtops, but clients are starting to ask us to fit the hardtops. I think it’s a compromise you need to accept.

What else is coming from Riva?

We’ve got the 130’, a 300GT planing yacht that fills the gap between the 110’ Dolcevita and 50 Metri, and some large custom projects in discussion. We’ve also got a couple of models to restyle. For example, the 100’ Corsaro is going to become the 102’. Again, we sold so many units that we decided it’s time to make it a little bit different. The Corsaro is beautiful, but the 102’ will have some different features.

Riva debuted the 76’ Perseo Super at Cannes

The 76’ Bahamas (Open range flagship) will have a restyle, just as the Perseo 76’ had – they’re built on the same platform.

For Pershing, the new 6X completes the X line and the TØ is the next range, starting with a 35m (115ft) model. What can you tell us about it?

Hull one of the 115 will be at the 2022 Monaco Yacht Show. It’s going to be a nice range. TØ is like an SUV concept. Pershing is the sports car of the seas, so the TØ is going to be like the Lamborghini Urus or Porsche Cayenne.

The first Pershing TØ under construction

People still want amazing design and speed, and although this will be slightly reduced because of the size and volume, it will still be the fastest sport boat on the market apart from the Pershing X range. It’s going to have incredible volume inside and outdoor space, a garage for the tender, and just be a great way to enjoy the sea.

Custom Line is very strong in Asia-Pacific, with hull one of the new Navetta 30 delivered to Hong Kong this year and one recently sold to Singapore. It’s also Ferretti Group’s next brand to introduce a new flagship, with the 140’ set for 2022. What should we look out for on the 140’?

The 140’ is a planing craft and will leverage on the shape of the 120’, which has a fantastic hull, as the wave-piercing bow and hydrodynamics give you great performance at speed. The hull can cut through waves nicely but also works well at slower speeds. The 140’ is also going to use the 2,600hp MTU engines, so it’s ready for when SCR (selective catalytic reduction) systems are compulsory from 2023.

The Custom Line 140’ will be the brand’s flagship

We’ve managed this because we’ve used carbon-fibre for the superstructure for the upper deck and sun deck. Also, thanks to the knowledge gained through Pershing, we’re investing in making light-construction furniture. This lowers the weight so much that we can use the smaller engines and still go 23 knots, so less fuel, less costs. It also reduces the draft, which is great for the US, parts of Asia, and many other markets.

What can you tell us about the new green-focused models Ferretti Group is developing?

It will be on a semi-displacement or fast displacement model. We’re looking at combining solar power, hybrid engines, batteries and other ideas.

Ferretti Group is working to find alternative ways and means of propulsion. We’re working with some of the largest companies on the planet to find things that really make an impact. We’re using more carbon-fibre to reduce weight and improving insulation to reduce air-conditioning.

Wally’s WHY200 premiered at Cannes in September

Ferretti Group, our clients and many other people are realising we’re all part of this ecosystem and we need to do whatever we can. Our clients enjoy the sea, so if you realise that you’re affecting it, you want to make a difference. And as yachts are a luxury product, owners can afford to spend a bit more to do the right thing.

More people are asking about sustainability now than they used to, for sure. Clients ask about insulation and how we’re achieving less emissions. We’re very happy to show them, along with what we’ve done in our production facilities to reduce the energy we use. We’ve invested over €30 million to increase capacity but also to put geothermic energy so we can reduce our energy consumption by over 20 per cent. That really makes a difference.

Finally, how are Ferretti Group orders in Asia-Pacific?

The market made up 11 per cent of sales in 2020. It was a larger percentage before, but it mainly reduced because the other markets grew a lot, grew even more. Hong Kong is a big part of the APAC market and had the protests in 2019 and 2020, then the initial part of Covid before rising last year. I think we’ll see great sales for 2021.

The first Custom Line Navetta 30 arrived in Hong Kong in early 2021

The total sales for APAC have been increasing, but it’s a case of what the area’s sales are a percentage of, whether it’s €600 million, €800 million, €1 billion and so on.

STEFANO DE VIVO

De Vivo has been Chief Commercial Officer of Ferretti Group since May 2014. His other positions within Ferretti Group include Managing Director of Ferretti Group Asia Pacific, Executive Director and Board Member of CRN, and Managing Director of Wally. Joining Ferretti Group in January 2002, De Vivo spent five years with Riva including two as the brand’s Far East and South Pacific Area Manager. He was Benetti’s Sales & Marketing Director from 2007-2011 and then a consultant, also completing an MBA at the Hong Kong University of Science and Technology (2012-13) before re-joining Ferretti Group in 2014. He speaks Italian, English, French and Spanish, and his passions include sailing.
www.ferrettigroupasiapacific.com

Ferretti Yachts’ epic new flagship
Cover star of Issue 61, Ferretti Yachts’ new five-cabin flagship 1000 features a remarkable flow between its outdoor areas from beach club to flybridge to foredeck, while IdeaeItalia’s interiors focus on natural light, colour and great views. And keep an eye out, as the first hull in Asia will arrive early next year. By Clare Mahon.

Cirrus Aircraft: Leading from the top

Leaders, Lifestyle / yachtstyle2020

Cirrus Aircraft: Leading from the top

November 24, 2021
3:48 am

Cirrus Aircraft CEO Zean Nielsen reveals why the personal aviation industry is thriving in such turbulent times and how the US-based company is leading that charge with its SR and Vision Jet series, safety initiatives and flight-training programmes. By Terence Ruis.

Zean Nielsen, CEO, Cirrus Aircraft

Zean Nielsen joined Cirrus Aircraft as Chief Executive Officer in 2019 and is responsible for oversight of the company, working with senior leaders from across the business to transform innovation, operations and the customer experience.

With a career rooted in globally recognised lifestyle brands including Tesla Motors and Bang & Olufsen, Nielsen has brought a diverse background of strategic planning, channel diversification and ground-breaking marketing initiatives to Cirrus Aircraft.

He began his career in 1997 at Bang & Olufsen, spending almost 17 years with the luxury electronics maker including over six years as President of Bang & Olufsen North and South America. Nielsen’s work gained the notice of Tesla and Elon Musk, and he joined Tesla Motors in 2014 as Global VP of Sales Operations, responsible for all aspects of worldwide sales operations.

A Vision Jet (left) in Cobalt blue and an SR22T (right) in Bimini Blue

Immediately prior to joining Cirrus, he served as the Executive Vice President of North American Sales at James Hardie, a leading industrial building materials company.

To find out more about his intriguing career, we caught up with Nielsen to pick his brain about the current – and surprisingly positive – climate of the personal aviation industry, as well as what we can expect of Cirrus Aircraft in the near future.

Zean, tell us more about yourself and your role at Cirrus Aircraft.

I have been overseeing Cirrus Aircraft as CEO since mid-2019. I have over 20 years of professional and leadership experience in luxury manufacturing and automotive brands such as Tesla, James Hardie and Bang & Olufsen.

Cirrus Aircraft offers world-class service to global customers

At Cirrus Aircraft I spearhead the strategic and financial planning for the company, determine which new markets we need to penetrate and where we can gain the most visibility. We aim to introduce more people to aviation and are rapidly expanding across the United States and Asia.

Having come from high-end consumer companies such as Tesla and Bang & Olufsen, how are you finding the aviation industry?

I’m thrilled to be here! I find the industry fascinating and love discovering new ways to improve the aircraft ownership experience. There are several similarities between my prior ventures with Tesla, James Hardie and Bang & Olufsen that directly correlate with what Cirrus Aircraft is accomplishing today.

Strategically speaking, we are continuously innovating, which is reflected by the aircraft we create, the avionics we integrate, and the industry-leading training programmes we develop. Additionally, we want to remove any barriers of exclusivity in aviation, so we bring various backgrounds and experiences to the table to better understand how to do that.

Considering the effects of Covid-19, the personal aviation industry seems to have done well over the past two years. Can you tell us more about the status of the industry and how Cirrus Aircraft has faced these turbulent times?

Personal aviation is on the rise and while the coronavirus impacted every industry, business owners were forced to think outside the box, adapt to changing times and equip themselves with solutions that allowed their business to prevail.

Many superyacht owners have private jets

We have been working closely with individuals and several business owners who have been keen on finding a safe, efficient way to continue personal or business travel during these times. Owning an aircraft opens new doors and provides people with the freedom to safely travel the world.

On both a financial and order book basis, how successful have these past two years been for Cirrus Aircraft?

We are currently breaking all sales records in the United States and expanding our sales and support team in Asia Pacific. Cirrus Aircraft’s SR Series has been the best-selling high-performance piston aircraft for 19 consecutive years and our Vision Jet has been the best-selling jet in general aviation for two years.

The comfortable interior of the G2+ Vision Jet

In 2020, we delivered 346 SR Series aircraft and 73 Vision Jets. The General Aviation Manufacturers Association recently released its report on general aviation aircraft shipments, stating Cirrus is a market leader with a total of 195 SR Series and Vision Jets delivered in the first six months of 2021.

What are your objectives for Cirrus Aircraft?

You can expect us to appear in new markets around the world to better serve the deep-rooted and growing aviation community. Just this year, we’ve announced several Flight Training and Innovation Centers that offer aircraft maintenance, management and sales, further supporting our aircraft owners and growing economies. We are also actively recruiting as we expand.

We are an inventive company and constantly explore how we can create the next best thing for our customers. And if you have ever experienced the SR Series aircraft and SF50 Vision Jet, you’ll know our innovation speaks for itself.

The new G2+ Vision Jet

For instance, we recently announced the G2+ Vision Jet, which features 20 per cent more take-off performance and Wi-Fi connectivity. The newly optimised thrust profile provides an extra boost during departure and provides access to more destinations around the globe.

We are excited to soon be announcing new features and tailored services that will make flying safer, smarter and more convenient.

The SR Series has an incredible history of innovation, evolution and invention. What can you tell us about the Limited Edition models you launched this past year?

This year, we released eight 8000 Limited Edition SR Series aircraft to celebrate the delivery of our 8,000th SR Series aircraft. We were inspired to create a Limited Edition that steps out of the mould and reflects the energy and excitement of where we are going next.

The interior of an SR22T Carbon

The 8000 features a bold, new design and unapologetic accents on the exterior and interior. The design is accentuated by an industry-first Volt wing paint scheme, which clearly can be seen from the ground or sky. The unmistakable graphics and colours carry through into the interior with Volt stitching on the seats, embroidery on the door and luxury perforated leather on the seats, control yoke and throttle.

Additionally, each 8000 Limited Edition aircraft were delivered along with a curated series of gifts and bespoke events for the new owners.

How is Cirrus Aircraft advancing the personal aviation market?

We are developing an aviation experience that is unmatched. Whether you are a student pilot or have hundreds of hours clocked, we treat you as family and tailor every experience so that they are memorable – from continuous training options to personalising your aircraft interior and exterior.

The Cirrus Airframe Parachute System (CAPS) is a standard feature on all Cirrus aircraft

Additionally, owning and operating a Cirrus aircraft enhances your lifestyle and provides the opportunity to fulfil a personal or business need.

We truly set ourselves apart in the personal aviation industry because we have incorporated exceptional, award-winning safety features including the Cirrus Airframe Parachute System (CAPS), a standard feature on all Cirrus aircraft, and Safe Return Emergency Autoland enabled by Garmin.

Cirrus Aircraft has also developed the Safe Return emergency autoland

To date, worldwide flight time on Cirrus aircraft has passed 13 million hours and at least 212 people have returned home safely to their families as a direct result of our CAPS technology. With CAPS and Safe Return, people are safer when they fly in a Cirrus and that message resonates with prospective and existing aviation enthusiasts.

You provide world-class training to Cirrus owners through both the company-owned facilities as well as the partner network around the world. How do you organise that key aspect of the business and ensure such a unique service?

At Cirrus, we welcome anyone that has ever dreamed of becoming a pilot or owning an aircraft to fulfil their dream, whether it’s for leisure or business. Our team is involved with customers for their flying lifetime. We’ve created Cirrus Approach, an in-depth, online flight-training programme that walks people through flight instruction.

Cirrus Aircraft offers flight training using the TRAC Series

Additionally, we have Cirrus-trained flight instructors that dedicate time to reviewing course work and flying with you. We put you in the pilot seat and allow you to experience what it’s like to fly an aircraft.

When we work with our customers, we create milestone memories together. That is what differentiates our company from the next and makes our aircraft highly-sought after. With our expansion, we are deploying more resources to create convenient ways to reach aviation communities that are interested in flying with Cirrus.

Cirrus Aircraft offers the freedom to travel with award-winning safety features

What other trends do you see in the personal aviation industry?

Personal aviation has been positively impacted by the pandemic, resulting in various new market trends. There are three main trends we have observed – people are seeking to completely control their travel experience, grow their business or learn to fly.

Where do you see Cirrus Aircraft in five years?

This is a very exciting time because we are growing in every way. Cirrus Aircraft will have more visibility – geographically, digitally and in everyday interactions. We will have faster production times and our aircraft will be seen at every airport.

“I can be in three different places in one day and back home before dinner.”

Finally, what is your favourite aspect of flying?

I love that aviation has changed my life. I can be in three different places in one day and back home before dinner. Personal aviation also offers my family and I a safe and convenient way to travel in the comfort of our own aircraft.

ABOUT CIRRUS AIRCRAFT

Cirrus Aircraft is the recognised global leader in personal aviation and the creator of the best-selling SR Series piston aircraft and the Vision Jet, the world’s first single-engine Personal Jet, as well as the recipient of the Robert J. Collier Trophy, which recognises the greatest achievement in aeronautics or astronautics in America each year. Founded in 1984, the company has redefined performance, comfort and safety in aviation with innovations like the Cirrus Airframe Parachute System (CAPS) – the first FAA-certified whole-airframe parachute safety system included as standard equipment on an aircraft.

To find out more about Cirrus Aircraft, visit: cirrusaircraft.com

To find out more about learning to fly, visit: cirrusaircraft.com/learn-to-fly

Yacht Style Issue 62: The Superyacht IssueO
Yacht Style Issue 62 features Top 100 Superyachts of Asia-Pacific 2022, seven yacht Reviews, Simpson Marine, Lantau Yacht Club, Ferretti Group’s Stefano de Vivo, Rolex Middle Sea Race, SailGP, Cannes and Monaco shows, Jeanneau Merry Fisher owner Kevin Quek, interviews with HSBC’s Jyrki Rauhio and Cirrus Aircraft’s Zean Nielsen, and lifestyle articles on IL PICCO residences and Art Works Group.

Gordon Fernandes: Superyachts eyeing Asia

Leaders / yachtstyle2020

Gordon Fernandes: Superyachts eyeing Asia

November 16, 2021
3:12 am

Gordon Fernandes, co-founder of Asia Pacific Superyachts, shares his take on discussions about Asia at this year’s Monaco Yacht Show, where superyacht industry leaders reconvened after a two-year gap.

APS GM Gordon Fernandes (second right) and APSA Chairman Nigel Beatty (far left) with industry friends at the Monaco Yacht Show

My trip to this year’s Monaco Yacht Show offered me fresh insights into how superyacht owners, captains and industry members view the Asia-Pacific. I had many discussions about the concerns held by those in Europe and elsewhere, and their perception of visiting this region. It proved fairly timely, as travel restrictions in Southeast Asia have been starting to ease and we’re expecting more people to be taking holidays here in the coming months.

Traditionally yachts have been cautious about visiting Asia because of the problems of Somalia pirates on the passage; that is, the pirates who used to operate in the Gulf of Aden near Somalia. However, this threat has been significantly reduced in recent years as there’s now a significant multinational naval presence in the area. In addition, a ‘safe’ route has been designated for commercial and private vessels when transitioning through this area.

Another route perceived by a few to be ‘full of pirates’ is the Malacca Straits between Singapore and Malaysia, but in the 24 years I’ve been in this region, I’ve never heard of one white boat that has been attacked. The pirate problem in that area is focused on cargo ships, where generally the entire boat and cargo are taken in a targeted attack. It’s very hard for pirates to make money out of a private yacht they would have for sale – and they could not afford the fuel bill.

ASIA ON THE RADAR

Recurring themes from the Monaco show were that yachts are getting bigger, and owners are getting more adventurous in where they want to cruise. Talking to owners, I found many are bored with the normal ‘milk run’ and want to use their floating home to cruise into more exotic destinations, with some looking to do a world cruise.

The 2021 Monaco Yacht Show; Photo: ImagIN / Monaco Yacht Show

I came away with the impression that Asia is on people’s radar and that there are more Asian owners. This is going to mean more charter yachts in the area and a lot more superyacht activity in Asia-Pacific. Consequently, more marinas and shipyards will be built to cater to the yachts that will be permanently based in Asia. Of course, many yachts will continue to Australia where there is already a great superyacht infrastructure in place.

Asia is of high interest within the industry yet still an area that holds tremendous mystique to many. It appears to me all the big brokers are established in Asia and sales are doing well, especially with the pandemic. People are realising buying a yacht awards them privacy and you can self-isolate very easily on board.

DESTINATIONS OPENING

Cruising in Southeast Asia this ‘winter’ is going to be relatively quiet as there are still some restrictions in place. However, these are gradually being lifted and destinations are reopening including Thailand, Indonesia, Malaysia and the Andaman Islands. As soon as travel returns to ‘normal’, we expect it to be very busy.

The Maldives had its busiest period ever last season as the crew and guests only needed one negative PCR test on entry and were then free to cruise around this stunning destination. The policy is the same for this season, so the Maldives should again be busy.

Among many reasons people enjoy cruising in Southeast Asia are the diving, ambient water temperature, natural attractions, adventure, island hospitality and the fact that guests can have an entire beach or even island to themselves. The scenery is amazing with lush tropical jungles and now there are places such as high-end beach clubs for guests to hang out and relax while listening to world-class DJs and sipping cocktails from a coconut!

Gordon Fernandes

Fernandes co-founded Asia Pacific Superyachts (APS) in 2008 with Captain Charlie Dwyer and Captain Scott Walker. He also co-founded APS Phuket with Tanyuta ‘Jojo’ Singhmanee and later, APS Myanmar. He remains General Manager of APS, overseeing its operations across an expansive regional network of offices covering 13 countries. Fernandes is also a Committee Member of the Asia Pacific Superyacht Association (APSA).
gordon@asia-pacific-superyachts.com
www.asia-pacific-superyachts

Yacht Style Issue 62: The Superyacht Issue
Yacht Style Issue 62 features Top 100 Superyachts of Asia-Pacific 2022, seven yacht Reviews, Simpson Marine, Lantau Yacht Club, Ferretti Group’s Stefano de Vivo, Rolex Middle Sea Race, SailGP, Cannes and Monaco shows, Jeanneau Merry Fisher owner Kevin Quek, interviews with HSBC’s Jyrki Rauhio and Cirrus Aircraft’s Zean Nielsen, and lifestyle articles on IL PICCO residences and Art Works Group.

Vivian Chan steps out of the shadows with VP Yachts

Leaders / yachtstyle2020

Vivian Chan steps out of the shadows with VP Yachts

November 3, 2021
4:32 pm

As founder and Director of VP Yachts, Vivian Chan is fast making a name for herself as the Hong Kong dealer for Italian builder Sessa, even if it appears a world away from her other role as General Manager of her family’s Sun Hing Shipyard.

Words John Higginson Art Direction & Styling Tasha Ling

Photographer Ruby Law Hair & Make-Up Wendy’s Workshop

Vivian Chan under a ‘wing’ of a Sessa F68 Gullwing

Vivian Chan looks to be in her element in what she calls the “glamorous side” of the yachting industry, looking every inch the model during a photo shoot aboard a Sessa F68 Gullwing as founder and Director of VP Yachts, which represents the Italian builder in Hong Kong.

For a couple of weekends before that, she was mingling with representatives of the likes of Ferretti Group, Sunseeker, Benetti, Monte Carlo Yachts and Camper & Nicholsons aboard a Riva 110’ Dolcevita at two events hosted by Voyager Risk Solutions this summer.

VP Yachts has already sold multiple Sessa motor yachts since the company’s appointment in November 2020, but for Vivian, the circles she now finds herself mixing in seem a world away from her ongoing role as General Manager of Sun Hing Shipyard, founded by her father Chan Ki in 1981.

Vivian is new to what she calls the “glamorous side of yachting”

“I never got to go out on these beautiful boats until recently. I typically go on a boat to see what needs to be fixed and the only times I really go out to sea was for sea trials. I’ve seen the hull bottoms more than I’ve seen the interiors,” laughs Vivian, who manages her dual roles from the shipyard’s main site, in Shum Wan on the east side of the Aberdeen Typhoon Shelter.

“After I started working for my dad, people kept wondering, ‘who’s this blonde Chinese woman standing on the pontoon’? When I saw my brother working for Simpson Marine, I saw the glamorous side. I always thought it was a world I wouldn’t reach because I was always on the other side, behind the scenes.”

PRODIGAL DAUGHTER RETURNS

Vivian says it was her father’s hope that his children would work in yacht sales, rather than the repair and maintenance field he has specialised in since working at the Supercraft yard in Tsing Yi before founding Sun Hing Shipyard. Despite the family business, Vivian says she rarely spent any time on boats when she was young.

Vivian and her brothers at the family shipyard in 1989

“We didn’t go out boating and I only visited the shipyard a few times when I was young. I didn’t know much about what he did. I knew he liked fixing boats, but he never talked about going on them. I only started going on boats when I started working for him.”

In the early 1990s, the family moved to Canada, initially to Vancouver before settling in Toronto, where Vivian and elder brothers William and Eric went to school. However, unable to find similar work in Canada, her father was back and forth between Toronto and Hong Kong, while both her brothers returned to the city in the early 2000s after graduating from universities in Ontario.

Like Eric, Vivian studied at Ryerson University and gained a BA in Architectural Science. But unlike her brothers, she stayed in Toronto, even after her mother had also moved back to Hong Kong. It was a family crisis that drew her back to the city to start working at Sun Hing Shipyard in 2011.

With Sun Hing staff including long-serving Chan Bong-wah (third right)

During a trying time for the family, her uncle decided to start his own business, so the site and staff were split into two, with the shipyards remaining side by side today.

“We literally split the shipyard in half,” says Vivian, whose first job was to put her architectural skills to use by designing the new office and floor plan. “I didn’t know much about boats, but I was just here to support my Dad along with the workers, as many have been with him for a long time.”

GROWING ROLE

After the split, Vivian worked alongside her dad in the office as Project Coordinator, alongside a team of five service staff including Chan Bong-wah, who still works at Sun Hing and has now been working with Chan Ki for four decades.

Vivian is Director of VP Yachts and GM of Sun Hing Shipyard

It was a surprising new role for Vivian, not only because of her lack of experience in the industry but because her father had always advised his children to work in other fields.

“My dad felt the shipyard business doesn’t make a lot of money, so he never really encouraged my brothers or I to work here. He’d say, you’re better off going to a dealer like Simpson Marine. My dad would prefer his kids to be meeting the owners of boats rather than just fixing the boats.”

To her father’s delight, Eric had joined Simpson Marine in 2010, working as a broker for Asia’s largest yacht dealer for nine years before setting up Deepsea Marine HK.

Vivian with her father and brothers William (left) and Eric (right)

William, after over a decade working in other fields, also joined the yacht sales industry in 2013, working for Jebsen Marine and Starship Yachts before founding his own brokerage company, Sunshine Yachting, in 2017, with an office at Sun Hing’s original shipyard.

Meanwhile, Vivian had been trying to ensure her father’s business could stay afloat with the added pressure of direct competition next door, as her language skills and overseas education helped her connect with many international dealers and companies.

“A lot of dealers came to us because I can speak English with them. I pretty much turned into a translator for my Dad at the beginning,” she laughs.

Vivian and Eric at the Cannes Yachting Festival

Vivian remembers attending her first international boat show at the 2014 Hainan Rendez-Vous, having joined the delivery trip of an 80ftplus motor yacht from Hong Kong. Over the years her experience and exposure increased, including attending the Cannes Yachting Festival in 2017 and 2018.

Furthermore, her responsibility and importance quickly grew, as she became General Manager of Sun Hing Shipyard while her father slowly started to hand over the reins.

Seeking other revenues for the company, she was involved in successful bids to lease shipyard lots in Ap Lei Chau, where Sun Hing has a second site. New services include boat collecting, assembling and commissioning for yacht dealers, all now proving important to VP Yachts.

OPPORTUNITY KNOCKS

Last year, in a further boost for the company, Vivian helped Sun Hing Shipyard become Dufour’s North Asia service centre, an appointment that began a sequence of events leading to her new role representing Sessa.

Vivian was appointed Sessa dealer in November 2020

Kevin Corfa of Dufour Asia remotely introduced Vivian to China-based Brian Zhuang, whose company Omnia Marine represents multiple brands including Dufour and Sessa, the inland Italian yacht builder he bought in 2015. Zhuang mentioned that a new Sessa F68 Gullwing was still in Hong Kong, unable to be imported to China due to Covid restrictions, so asked Vivian for help in selling it.

Last November, she exhibited the 21m flybridge motor yacht at the third HKCYIA-organised Hong Kong Yacht Show, an invitation-only event held for a second year beside the Kai Tak Runway Park. The blue-hulled Sessa flagship proved one of the star attractions among the 17 boats at the show.

While fronting the boat, she received multiple visitor enquiries as to whether she was an official Sessa representative, so called Zhuang to ask how she should respond. He quickly confirmed her status as the dealer for Hong Kong.

The 2020 Hong Kong Yacht Show at Kai Tak Runway Park

“I felt this was a good chance to expose the Sessa 68 and it was the show-stopper. Our boat really stole the show,” she says. “I learned so much during those three days. I had been to dealer displays in Hong Kong, so I followed what I’d seen about how to dress and present the boat, uniforms for staff and crew, invitations, catering and so on.”

More importantly, she was also making her first sale, even if she didn’t realise it at the time. Among the visitors on board the Sessa was a family friend, who mentioned he wanted the boat. “I thought he was joking,” she laughs.

However, he followed up after the show to check if the yacht was for sale. “The boat had been in Kwun Tong for nine months, so I thought he wanted to order a new unit, but he didn’t want to wait.”

Sessa models include the new Key Largo 40

Now joining her brothers in the world of yacht sales, Vivian created a new company, VP Yachts – representing the initials of her and her daughter – and had to quickly get up to speed with Sessa.

Based at an inland facility outside Bergamo, east of Milan, Sessa builds cruiser and flybridge motor yachts ranging from the new C35 – among its five models at this year’s Cannes Yachting Festival – to the F68 Gullwing, a stunning design distinguished by lifting doors on each side of the saloon.

It also builds the Key Largo brand range of inboard and outboard cruisers ranging from the 24 to the 40 that premiered at last year’s Genoa International Boat Show and was also on display at Cannes and Genoa this year.

Vivian sold a Sessa F47 earlier this year

VP Yachts’ first sale of this year was an F47, one of Sessa’s newer models, with delivery scheduled for the first quarter of 2022, while over the summer Vivian sold a C38 to a first-time boat owner.

IN-HOUSE SERVICE

In her brief time as a yacht dealer, Vivian has quickly realised the importance of her family’s shipyard, not only in providing service and fast repairs but as a reassurance for potential buyers.

“The buyer of the F47 was recommended to talk to me because we have a shipyard so we can always look after the boat,” she says. “I’m so glad I have a shipyard in this role. It saves a lot of time compared to claiming warranties and waiting for parts or a repair.

Vivian heads a strong team at Sun Hing Shipyard

“A lot of the time we just fix it straight away and deal with the follow-up later. You want a happy customer, not someone annoyed and having to wait for someone to fix the boat. The longer I’m in this job, the more important I realise my shipyard is.”

Now managing both Sun Hing Shipyard and VP Yachts, Vivian has three other staff in the office and six technicians in the service department, cheekily adding: “My Dad comes in once a month to pick up his paycheque.”

Since Vivian became a dealer, Sun Hing has already been servicing other Sessa boats in Hong Kong, while VP Yachts also offers yacht management and is already providing the service for the owner of the F68 Gullwing. Looking ahead, Vivian is keen to keep growing both companies’ offerings.

Vivian on the F68 Gullwing, the first Sessa she sold

“I’m really enjoying VP Yachts because it’s something I started myself. Now, I want to do everything including after-service, yacht management and much more. I think it’s important to know the whole experience of boating and I’m learning something new every day.”
vivian@vpyachtsltd.com
www.sunhingshipyard.com/sunhing

Italian builders show new models at Genoa
Azimut, Riva, Pershing, Sanlorenzo, Bluegame, Absolute and Sessa are among builders displaying 2021 models at the 61st Genoa International Boat Show.

HSBC Global Private Banking: Asian wealth at heart

Leaders / yachtstyle2020

HSBC Global Private Banking: Asian wealth at heart

November 1, 2021
4:28 pm

Jyrki Rauhio, Regional Head of Credit Advisory, Global Private Banking, Asia Pacific at HSBC, explains how the region’s ultra-wealthy benefit from the bank’s unique range of services including financing structures for superyachts and other ‘trophy assets’.

Jyrki Rauhio, Regional Head of Credit Advisory, Global Private Banking, Asia Pacific, HSBC

What’s the typical profile of HSBC Global Private Banking clients in Asia?

One of the core strengths of HSBC is our internal connectivity. We work closely with our Commercial Banking and Global Banking colleagues to support our clients across their corporate and personal banking needs.

For example, we’ll connect with an entrepreneur to discuss their wealth needs, from liquidity to financing, during the early stages of growth. We’ll work closely with our Commercial Banking partners to support the expansion of their business, including international growth. As they grow, they’ll either reinvest in their business or look to manage and protect their wealth, which is where Private Banking comes in with our investment and wealth solutions as well as our wealth planning and advisory team. It’s a very tried-and-tested model and sets us apart.

Of course, we also serve professionals and employees of companies. In Asia, sectors like finance, technology and healthcare are rising quite rapidly. And the wealth of these employees, which may be tied into shares as well, can blossom very quickly and unexpectedly. They need a trusted partner to help guide their long-term financial well-being.

We deal with clients from all backgrounds and industries. But the heart of our strategy is to support clients across their personal and corporate wealth needs, bringing human and financial capital to the table, to help them grow, manage and preserve their wealth.

What makes HSBC different to other banks in Asia dealing with such clients?

HSBC has been actively supporting Asia’s growth story for over 156 years. As part of the group, HSBC Global Private Banking is a leading global private bank, with a wide range of associations and established networks. We are unique in the industry by leveraging HSBC’s scale to provide end-to-end solutions and utilise the depth of HSBC’s global proposition and network.

As a global player with local expertise and our heart in Asia, we are committed to helping our clients grow, manage and preserve their wealth across generations and geographies. This year marks the 75th anniversary of HSBC Trustee in Asia. As one of the longest-serving Trustees in Asia, we are trusted by generations and have been a partner in helping many affluent families preserve their wealth and legacy for future generations to come.

Where does yacht financing fit in within HSBC’s services?

Yacht financing fits into what we call the trophy asset category. A couple of other key ones are private jets and art. They can all be categorised as ‘passion asset’ classes. I use that term because a yacht or plane can be hard to justify from a traditional investment return point of view, but they hold a different type of value, such as utility value, time-saving value or otherwise.

It’s a very important class of assets for our clients, especially the ultra-high-net-worth individuals (UHWIs), who have investable assets over US$30 million. It’s not about enabling purchase, like others would buy something on a payment plan. It’s about really making those assets work harder and releasing equity to get a return. We might suggest that instead of putting US$50 million into this boat or plane, why not put down a percentage of that and then put the rest to work to defray that cost.

Our clients, especially the UHNWIs, have collateral and a lot of debt capacity. They’re comfortable in having debt, even in assets like this, especially with low interest rates. A key is to make sure that the collateral is top end, whether it’s an aircraft or a yacht, and have a tight structure, so it’s being maintained and kept in top order.

The new 70m Alfa built by Benetti is available for sale through Fraser

We’ve been very busy on the yacht financing side, talking to clients who are either buying their first vessel or upgrading. Since Covid, there has been a boom in demand for buying yachts, especially in Hong Kong, where getting out on a boat has been as close to having a holiday as you can get.

When clients seek to buy such assets, do you challenge them or pose questions to better understand the investment and costs?

We need to be realistic. We do often have a frank discussion with our clients when they’re looking to buy yachts or planes. For example, flying first-class is very affordable compared to owning a plane. For superyachts, we highlight the cost of ownership such as the classic rule of thumb, which is that annual running costs are about 10 per cent of the purchase price.

With Covid, people are feeling that ‘you only live once’ and are keen to own a yacht. It’s a fantastic way to spend your time and the types of clients that are looking at owning a yacht are in the wealth band where it works.

However, in my career, I’ve seen situations where people have had a windfall through an IPO or a liquidity event, and they rush to buy some of these assets. The reality is that buying a yacht or a plane is not like buying a sports car. It’s a very complex purchase, so we highlight that. When we structure the transaction and write up the analysis, we look into that and provide our take on the individual’s ability to service this.

At the end of the day, I’m not in the business of pure asset-based finance. We’re in the relationship banking business. We’re doing this because of who the client is. Our offering is quite unique in the market.

How are ESG (environmental, social and corporate governance) considerations changing among your clients?

ESG has been increasing in importance for quite some time and one of the reasons is the emergence of younger wealth, the tech and financial entrepreneurs, and the next generation. If you look at the traditional billionaire tycoons in places like Hong Kong, their children or grandchildren are now taking over. They may have a very different world view and background to their parents and grandparents. This is very important.

When we look at yachts and builders, are they taking ESG into consideration when sourcing the teak for the decks? What are the carbon emissions on a yacht or a plane? The awareness around this topic is rising rapidly and I can see it evolving more widely. ESG is now a factor in almost all the investments our clients are making.

Do younger clients have a different mentality when investing?

An increasing number of our clients in the regions, especially the Next Generation clients, express strong interest in the durability of sustainability-related themes, because climate change is a scientific fact which will take decades to address. And our clients also like the fact that all stakeholders now seem to be aligned: governments, regulators, voters and consumers are now all committed to the net zero transition.

What are the current business priorities for HSBC Global Private Banking in Asia?

I want to highlight three areas. Firstly, we’re investing a lot in ultra-high-net-worth individuals, as you have to offer a lot more beyond a Private Banking platform. You need to be able to connect Commercial Banking and Investment Banking, bringing top-grade products, services and solutions to these clients.

Secondly, we’re earmarking a third of our Private Banking investment for mainland China. We already have teams in Beijing, Guangzhou and Shanghai, but we’re aggressively growing on the ground to become embedded into the financial system within mainland China itself, as opposed to just relying on the offshore banking model. Investment opportunities for individuals on the mainland are starting to diversify, so we want to be there to capture that opportunity.

Thirdly, we’re scaling up in Southeast Asia which has over half-a-billion people and some of the fastest-growing economies in the world, especially pre-Covid. When we think about Asian wealth, we look at the entire Asian opportunity, not only China, but other parts of the region, such as Singapore as an international wealth hub.

What else should people know about Global Private Banking at HSBC?

The Asian consumer and their growing wealth are the heart of HSBC. We’re investing US$3.5 billion into the Asia wealth franchise over the next five years to accelerate the growth of the wealth and personal banking business. We want to be the leading wealth manager in Asia.

We have all the ingredients, unique in the industry, by leveraging HSBC’s global proposition and network, including access to capital financing, capital markets participation, pre-IPO/direct investments, real estate and a tremendous balance sheet, which is hugely important for the ultra-high-net-worth segment. All this enables our clients to put their money into motion, whether it’s to buy assets or dispose of assets.

So, if you’re looking for one of the world’s largest international banks with an extensive global network and its root and knowledge in Asia, which understands you as an entrepreneur, HSBC is the bank for you. Combined with our commercial heritage, global and regional reach, capabilities and expertise, that makes HSBC Global Private Banking unique.

www.privatebanking.hsbc.com

Disclaimer: The information contained in this article has not been reviewed in the light of your individual circumstances and is for information purposes only. It does not purport to provide legal, taxation or other advice and should not be taken as such. No client or other reader should act or refrain from acting on the basis of the content of this article without seeking specific professional advice. Issued by the HongKong and Shanghai Corporation Limited.

Yacht Style Issue 61 Out Now: The Premieres Issue
Yacht Style’s Issue 61 features New Models and World Premieres 2021, Cannes and Monaco show specials, Camper & Nicholsons CEO Paolo Casani, VP Yachts founder Vivian Chan, Galeon and Tony Castro, PMG Shipyard in Thailand, ONE°15 Marina Sentosa Cove, Reviews of Ferretti Yachts, Sanlorenzo, Aquila and Bali boats, and Yacht Style Awards 2021.

YP Loke: Maritime Heritage – A Singaporean context

Leaders / yachtstyle2020

YP Loke: Maritime Heritage – A Singaporean context

October 31, 2021
4:29 pm

Singapore should do more to embrace its maritime heritage, writes YP Loke of Global Marine Business Advisors.

YP Loke, GMBA Singapore

In Asia’s relentless march towards economic prosperity and its bid to catch up with the developing world, many fundamental values important for evolution of the human condition and wellbeing are often cast by the wayside. This includes (among others) the arts, preservation of natural capital (the world’s stock of natural assets, which makes life possible), culture and heritage.

Asian parents – pushier than their western counterparts – besiege their children to eschew the liberal arts and social sciences in favour of the hard sciences. Assigning monetary value to the former is difficult but not impossible. Their exclusion from the gross domestic product in measuring economic development is a serious shortcoming.

In this article, my focus is on just one small part of this broad spectrum of fundamental values – maritime heritage. It is a subject I am familiar with, given my background in the maritime space, and the fact that I live in Singapore – a modern bustling port city that grew from a sleepy fishing village when the British came here and claimed it as a colony some 200 years ago.

While our journey of economic progress is often envied by others, our record on retaining our culture and heritage has been wanting.

Photo: c/o WRDE

The ideology and relevance of heritage in the search and articulation of identity is not new. The noted eighteenth century Danish philosopher Søren Kierkegaard was quoted to have said, “life can only be understood backwards; but it must be lived forwards”.

In the case of Singapore, it explains the genesis of our multicultural past and forms the cornerstone of a multiracial identity which engenders social responsibility, inclusiveness and a common sense of place. Weaving our maritime heritage into other cultural and economic aspects of our society enables us to resonate with our past and gives us a compass for moving forward as a community.

One would have expected that with maritime trade so firmly entrenched in Singapore’s economic lifeblood from ancient times until today – Singapore remains the world’s busiest port when measured by shipping tonnage – that some sense of maritime or seafaring ethos would become embedded into our cultural DNA.

Sadly, this is not the case. While the body of knowledge and public policy involving heritage and conservation on terra firma is generally healthy thanks to agencies such as the National Heritage Board, the state of its maritime cultural landscape is in desperate need of a makeover. Our maritime heritage warrants effective management at a national level.

Industry laments young people aren’t interested to come into the maritime workforce, which is in dire need of manpower. To be sure this isn’t the kind of cushy industry typical Singaporeans yearn to be in, but the lack of strategic overview and public policy surrounding the maritime cultural landscape certainly does not help. This lack of a maritime identity in the Singaporean cultural psyche is a stumbling block to its stated goal of becoming an international maritime centre.

Witness the other end of the spectrum, where Scandinavians (Norwegians and Danes in particular) have a clearly engendered maritime cultural identity rooted in their Viking past, which they proudly articulate. That these great seafaring nations can maintain a dominant position in global shipping up to today is due in no small measure to the link with their maritime cultural heritage.

Singapore’s predicament of getting young people into the maritime workforce can be neatly summarised in the following quote by Antoine de Saint-Exupéry: “If you want to build a ship, don’t drum up the men to gather wood, divide the work, and give orders. Instead, teach them to yearn for the vast and endless sea”.

http://www.gmba.blue

yp.loke@gmba.blue

Disclaimer: Global Marine Business Advisors and its associated website http://www.gmba.blue are not registered legal entities. GMBA is a network of independent marine industry advisors. In all articles the opinions expressed are those of the author and does not necessarily reflect those of GMBA.

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Colin Dawson on troubled waters for insurance

Leaders / yachtstyle2020

Colin Dawson on troubled waters for insurance

October 29, 2021
12:07 am

Boat fires in Hong Kong have compounded a difficult time for both the yacht insurance market in Asia and owners, who need sound advice to navigate a complicated period for coverage, writes Colin Dawson.

The fire in the Aberdeen Typhoon Shelter in Hong Kong in the middle of 2021 came at a bad time for the city’s insurers and those who provide cover for yachts. Even with the changes in the yacht insurance market over the past two to three years, premiums and deductibles have only increased a relatively small amount while we have not seen anything put towards risk reduction. Losses have continued to increase, and the market now faces a very tough decision in how to move forward.

Of course, insurance is a pool of risk and it’s fully understood that premiums from the majority contribute to cover losses from the few. This is how the industry has survived for over 300 years. The problem at present is that premiums have been too low for too long and losses have been too great for too long.

Something needs to happen to put things right, otherwise we will see a situation where yacht owners simply can’t get insurance. It needs a concerted effort from both owners and the insurance industry to effect sensible changes that allow for an increase in the premium pool while at the same time reducing the number of losses occurring to insurers.

Many insurers are taking knee-jerk reactions by pulling out of the market or imposing steep premium and deductible increases, severely reducing cover available to owners. Unfortunately, some of these changes are based on perceived risk rather than actual risk and are being applied across the board to all owners, irrespective of the situation of their yacht. This is not likely to be helpful in creating a team approach to resolving the problem.

ILLEGAL MOORINGS

What may be even harder is that insurers are now beginning to crack down on illegal moorings and use of boats. This is likely to cause significant difficulties in a city where there’s a huge shortage of Marine Department-approved moorings and many feel they have no option but to use illegal moorings.

It’s a discussion I have had time and time again. If a yacht is breaking the law, insurers can walk away from the risk or a claim. It’s an owner’s responsibility to know they are acting within the law and the manager of the yacht also bears responsibility for this, being a professional advisor to the owner.

How much Professional Indemnity insurance cover do most managers in Hong Kong carry to (ultimately) protect their clients? Professional Indemnity insurance is a cover designed to protect a professional in the event he gives bad advice to the detriment of the client.

If, for example, a claim arises and the manager has been responsible for advising on a mooring that turns out to be illegal, resulting in insurers declining the claim, the owner is likely to turn to the manager for compensation. This is where the manager’s insurance cover comes into play. Of course, it would be far easier if the manager gave proper advice all the time, but mistakes do happen.

SOUND ADVISOR

In the coming weeks and months, owners need to expect premium increases and that obtaining insurance will become harder. Underwriters need to understand that 19 out of 20 owners do not have claims and to increase their premium pool, they’re going to have to retain existing clients and attract new business in offering a high-quality product to owners who see it as a genuine tool to assist in the operation of their yacht.

At the same time, owners need to be prepared to offer an olive branch to insurers and make a significant effort to reduce the risks that lead to claims. This includes the use of a good-quality risk advisor, otherwise known as an insurance broker.

A good broker understands underwriters, risks attached to what they’re arranging insurance for and where losses stem from. The broker should therefore be capable of advising an owner how to obtain good-quality cover and with whom it should be placed. They should also be able to advise an owner on how best to minimise risks that lead to claims, down time for the yacht, along with personal and financial risk.

There are many who offer advice on insurance to an owner. However, how many of those are legally doing so, insured to do so and have the depth of insurance knowledge and relationships to recommend a cover that delivers as it should do in the event of a loss?

The yacht insurance market in Asia is about to change in a way that has not been seen in many years. It’s best for an owner to be able to handle these changes with a professional advisor, operating legally and who is experienced in giving sound advice.

COLIN DAWSON

Dawson is a specialist yacht insurance broker with Expat Marine. Based in Hong Kong since 1994, he looks after clients predominantly in Asia-Pacific and superyachts globally. A Founding Member of APSA (Asia Pacific Superyacht Association) and a Director of the San Fernando Race Foundation for underprivileged children in the Philippines, Dawson is also a passionate conservationist. In 2014, he set up The Elephant Foundation, which raises awareness through education of the plight of Africa’s iconic animals and the communities around them.
colindawson@tgg.com.hk
www.expathk.com

Yacht Style Issue 61 Out Now: The Premieres Issue
Yacht Style’s Issue 61 features New Models and World Premieres 2021, Cannes and Monaco show specials, Camper & Nicholsons CEO Paolo Casani, VP Yachts founder Vivian Chan, Galeon and Tony Castro, PMG Shipyard in Thailand, ONE°15 Marina Sentosa Cove, Reviews of Ferretti Yachts, Sanlorenzo, Aquila and Bali boats, and Yacht Style Awards 2021.

Interview: Paolo Casani, CEO, Camper & Nicholsons

Leaders / yachtstyle2020

Interview: Paolo Casani, CEO, Camper & Nicholsons

October 28, 2021
8:54 pm

Camper & Nicholsons’ recent achievements include selling the 105m Lady Moura and adding the 126m Octopus to its charter and management fleets, but CEO Paolo Casani is most excited about the company’s focus on proprietary technology to engage clients in the new era.

Paolo Casani has been CEO of C&N since 2015

What have been the biggest changes at Camper & Nicholsons in your six years as CEO and how has the job compared to your time as CEO of Azimut-Benetti and President of Fraser?

Over the past six years, Camper & Nicholsons has evolved into one of the most important and complete luxury service companies for yachts for two main reasons. One, we’ve greatly improved the integration of all our departments, and two, we’ve been facilitated by the acquisition of a new technological platform that allows us to build new, ultra-modern tools for our sales teams.

Our technology gives us incredible strength and quality on the market and increases the value of the company assets. The technological advancements are not only one of the most important changes of the past few years but will also be increasingly important for the coming years as well.

As for my earlier roles, working for a shipyard and working for a brokerage are quite different. Probably the only common thing is that we work with the same clients, but everything inside the companies is totally different.

Why has C&N focused so much on its online presence, software and communication?

I think we are almost the leader in this area in the brokerage industry, but if you ask me if I’m satisfied, I’d tell you no. Camper & Nicholsons is growing well, thanks to the investment we’ve made, but our plans are more and more ambitious, so we plan to do much more.

C&N was founded in 1782 but is now a digital leader

The digitalisation level of our company will increase more in the coming years because we believe this is one of the most important ways to develop the company. We think the combination of technology and competencies – like experienced sales and charter brokers, experienced staff in all our different departments like yacht management and insurance, which is increasingly important for us – are of paramount importance to the success of the company in the future.

Camper & Nicholsons has an important characteristic compared to the other brokerage houses in that our technologies are proprietary technologies. We do not buy our software and services from other providers. We develop everything in-house. We have a team of engineers planning and building all our in-house software. They’ve been completely re-engineering the digital ecosystem of the company.

That’s the most important effect of acquiring a tech company, as we did in 2019. We’ve done a lot and there is a lot to do. We have quite an ambitious plan. It’s very important to stress this because we store all our data in-house, which is important because we manage very confidential information for our clients.

What are your thoughts on the changes to the Monaco Yacht Show following the 2020 cancellation and the reorganisation behind the scenes?

Firstly, let me say the Monaco Yacht Show is the most important megayacht show in the world by far and it’s a very important window for clients all over the world. It’s an occasion that everyone in this industry waits for to meet people and see megayachts.

Camper & Nicholsons is a major player at the Monaco Yacht Show

Having said that, we think the show should evolve more to attract a new generation of clients with different initiatives, with technology that’s more attractive to this new generation. The existing clients are already in touch with us, so we know how to interact with them and negotiate with them.

As such, the Monaco Yacht Show needs to attract the new, younger generation of clients with the possibility to buy or charter yachts but who don’t yet feel the need or the attraction to do so. We need to bring them, show them on board, to create the possibility to buy, show them the possibility of a different lifestyle. Connecting with the next generation of buyers is the biggest growth opportunity for the superyacht industry in the coming years.

How important is your Monaco office among your global network?

Monaco is not our headquarters, but it’s our most important operational office and has 60 staff out of our total of 140. Monaco remains the hub of megayachts, and many owners have houses or businesses there. Today, Camper & Nicholsons has offices around the world – five in Europe, three in the US and one in Asia, in Hong Kong.

The 60.5m Sarastar is among 70-plus superyachts in C&N’s charter fleet

Which departments generate the most revenue for C&N?

The two most important revenue generators are sales/brokerage and charter, which are almost at the same level. Under sales, I include our new build division, which was launched almost three years ago. After those two, we have yacht management, including the crew and crew placement divisions, and then insurance, which is increasingly important.

Camper & Nicholsons Insurance Solutions is a new 50-50 joint-venture with an insurance company. So far, it has worked with over 100 megayachts above 40m, which is an important achievement.

Do you believe new build is a sector with a lot of growth potential?

Absolutely. New build has a lot of potential growth. In the past, most new builds went through brokerage companies. Now, for various reasons, about 50 per cent don’t go through brokerage companies and go straight to the shipyards.

New build deliveries include Olokun, the 50m Tankoa

We really believe if a brokerage company is well organised and justifies the fact it’s in the middle of the transaction, it can bring great value for both the buyer and the shipyard. That’s why we created our new build division, or what we also call the project management division, composed of engineers.

Our activities in new construction have been quite intense. Just this year, we’ve delivered half-a-dozen new build projects and we’re confident of signing more deals by the end of the year.

How significant is the addition of the 126m Octopus to your charter and management fleets, and what can charter guests expect on her round-the-world tour?

We’re thrilled to have an iconic yacht such as Octopus join our yacht management and charter fleet because she is one of the most impressive explorer yachts in the world. It shows we are increasingly being recognised as an expert in megayachts, as we have other 100m-plus vessels in our fleet. It’s exciting that Octopus is preparing to charter for the first time.

The 126m Octopus will charter from January 2022

The new owner has said that she will be available for charter by very selected clients. It will be an incredible opportunity for guests to experience this sense of adventure. She will embark in January 2022 on a two-year journey around the world. Because she is ice-class, we can now take our clients anywhere they want to go in the world.

Camper & Nicholsons made headlines in the middle of the year with the sale of the 105m Lady Moura, which has long been a mainstay in Monaco. Can you talk about how this sale evolved?

It’s an important sale for Camper & Nicholsons, of course. It was the fastest sale of a 100m-plus yacht in the past decade, taking 554 days.

Lady Moura represented the fastest sale of a 100m-plus megayacht in the past decade

It was a great achievement thanks to great teamwork, starting from our senior sales brokers Fernando Nicholson and Arne Ploch to all the departments, from marketing, who put together a very detailed and refine marketing plan, to compliance and legal in the final stage of the deal, working with the buying and selling lawyers. It was a great company success. Nowadays, when selling a megayacht, it’s important to have a full team working on it.

Other brokerage houses have revealed record superyacht sales during Covid, especially in the pre-owned sector. How has your sales & purchase sector performed in the Covid era?

If we consider 2020, we can divide the year into two parts. The first part was the most difficult one. We had to face something virtually unknown to all of us.

Luckily, we had already thought about an emergency plan for the company for any sudden situation and realised we had to organise the company in a different way. We made an investment in securing the most important functions, including working with banks. It meant that when we had to close the offices in early 2020 and people had to work at home, most of our staff were already organised for this and were able to continue working the next day.

However, we were affected by the impossibility to meet with clients, to complete transactions. This included one for Lady Moura as we were waiting for the clients to come on board, but then their flight was cancelled. Much of the time, these transactions are emotional, so if you lose the momentum, you lose it forever. It was like that for many other negotiations in place.

Sea Huntress, a 55m Feadship, is among C&N’s yachts for sale

Of course, like everyone, we started to organise our video and webinar interactions, as well as improving photo and video shoots, videos with descriptions and voiceovers, all the other ways to

connect with clients and connect clients to the yachts.

The second part of 2020 was much better. Probably as a reaction to what had happened, people tried to go back to normal and the last quarter of 2020 was much better for sales. We started to experience selling yachts without welcoming clients on board – and that was an experience, honestly. If you asked me two years ago, I would have told you this was impossible.

Now, we’ve discovered nothing is impossible if you are very well organised. Covid has been negative overall, but it has taught us a lot and given us the sense that it is possible to change and do this

business in a different way.

This year has been even better. The first six months were the best we’ve had, certainly during my time. We sold a lot of yachts. In general, the industry has sold double the number of yachts it did in the first six months of 2019.

How was your charter business affected during Covid?

Charter had a different evolution to sales. In early 2020, we entered an almost worldwide lockdown, so we had to cancel or postpone almost all charters. This was financially a difficult period because we had to give up our income from charter, which is an important part of Camper & Nicholsons’ revenue and cash flow.

The 58m Benetti Illusion V is for charter

We were able to postpone 50 per cent of the charters already booked, but all in all, it was obviously not a positive year for charter. Then in the last quarter, we almost lost the Caribbean season as well,

so that was a double negative impact.

In 2021, we didn’t start very well, but from March, even charter started to change. April, May, June and July have been incredible months for charter. It was difficult to find a 40-50m yacht available for charter unless there was a late cancellation. We almost recovered our budget by the end of July.

In charter management, we are above the yearly budget and in charter retail, we’re just short of the yearly budget, so all in all, we’re extremely satisfied with charter as well, although the curve has been

different to sales.

We’ve also improved the quality of our charter fleet. Octopus is just a recent example. We have an incredible range of 70-plus yachts in our charter fleet, based in all the major charter locations around the world, such as Europe, the Caribbean, Florida in the US and Southeast Asia. Some have 100, 110 days, 140 days of charter a year, which is incredible. In these cases, the owners can offset their running costs.

How do you think the charter industry will evolve in the coming years?

Charter is one division that can be more positively affected than others by technology and we do it a little bit differently from other companies because of the tools we have in place. For example, the way we propose itineraries to our clients is unique and can be done very quickly and easily because of our technological platform.

La Pellegrina 1, a 49.5m Couach, is for charter

Our new website launched in late 2019 has also helped us receive more enquiries than before and we’ve also improved the team of charter brokers, which now number over 20 around the world. Honestly, our charter brokers include some of the best in the industry.

How important is Asia for Camper & Nicholsons in the long term?

Firstly, the company’s majority shareholder (Lai Sun) is based in Asia. For a long time, Asia has been the continent with the most growth potential. There’s still a lot to do, but there are a growing number of investors approaching the yachting business.

The number of tycoons investing in and buying yachts is increasing every month. If you look at the order books of some of the most important shipyards in Europe, there are many, many owners from

Asia. Some very important yachts have been delivered to Asian owners and there will be more in the coming months and years.

The number of multi-billionaires in Asia is growing, mainly but not only in China, which will eventually become more important than the US. If the trend continues as it does today, we think the Asia market

will be the most important market in the industry in the next 10 years.

The 65m Lamima is for charter in Indonesia

This is something we said 10 years ago and maybe 20 years ago, and it has evolved partially, but now there is an acceleration. The delay is because people in the north part of Asia are not that familiar with the sea. Yachts are used in a different way, as the owners are less passionate about spending time in the sea and more passionate about the asset.

Another obstacle in Asia to the growth of yachting is the infrastructure, which is quite poor in some of the countries. For example, in Hong Kong, there’s an important number of yacht owners but it’s difficult to moor a yacht above 40m for many reasons.

For some automotive and fashion companies, the Asian markets are some of the most important in the world. Yachting is part of the luxury industry, so just as it happened for cars and fashion, it will happen for yachting. However, due to the nature of the assets, it will take longer.

We only opened our office in Hong Kong in 2017, so we are still young there, but with an important strength – our owner is based in Hong Kong, so we’re in touch with some of the most important clients there. We very much count on Asia.
www.camperandnicholsons.com

Camper & Nicholsons agent for CLX96
The global brokerage house has been appointed as an agent for the sale of CLX96, the CL Yachts flagship set to debut at the Miami Yacht Show in February 2022.

Yunzhu Jin: Buying superyachts for Asia-Pacific passages

Leaders / yachtstyle2020

Yunzhu Jin: Buying superyachts for Asia-Pacific passages

October 27, 2021
1:52 pm

Yunzhu Jin, Asia Director for Amels and Damen Yachting, explains what makes the brands’ superyachts so suitable for travelling the region.

Yunzhu Jin is Asia Director for Amels and Damen Yachting

Amels and Damen Yachting now have the largest number of superyachts cruising Indian Ocean, Asia and Pacific waters. The upsurge is due to many factors.

First and foremost, the range is unique. Amels offers Full Custom superyachts and ultra-popular Limited Editions. The yard, established in 1918, became a member of Damen Shipyards Group in 1991. Damen Yachting Company was then formed in 2019 to handle Amels, as well as Damen Yacht Support vessels, Damen SeaXplorers and Yacht Refits.

Private yacht engineering and outfitting is focused at Vlissingen in the Netherlands, near the Belgian border, and is backed by the enormous Damen Shipyards Group, which has 35 shipyards worldwide including in China, Singapore, Vietnam, Indonesia and Australia, delivering nearly 200 commercial and naval vessels a year.

The Group’s sheer experience, quality standards and financial strength are thus very reassuring for buyers. They are hallmarks also of Damen Yachting, whose state-of-the-art innovations are developed with some of the world’s leading designers, including Tim Heywood, who has been closely associated with Limited Editions since the early 2000s, and the equally-renowned Espen Øino.

The 58m Amels Limited Editions Volpini 2

Limited Editions allows buyers to drastically reduce build times by choosing from pre-built and pre-engineered proven hull platforms, and then customising the fitouts of their yachts.

As Asia Director for Amels and Damen Yachting, I find that many Asian clients today just want to “get away from it all”. Their usual access to luxury hotels and resorts has been restricted by the pandemic,

so why not re-create their own floating resort to entertain family, friends and business associates?

Superyachts can be used as a floating office too. During meetings to complete contracts and select personal preferences, clients can see I have been with Damen Shipyards Group for many years and have long-term loyalty to the Group. I’m not likely to be here one day and gone somewhere else tomorrow.

Satisfying the curiosity of children during a recent cruise

I didn’t originally have a shipbuilding background, though. I was born in Changzhou, in the Yangtze Delta between Shanghai and Nanjing, and my first job was as a host and journalist for Changzhou City Radio Station. I covered the Athens Olympics for a Changzhou paper in 2004, became involved with the China National Youth Writers Association, and did some TV marketing, modelling and advertising.

Then I had the chance to study at the HZ University of Applied Sciences in Vlissingen, which is better known in English as Flushing. Flushing Meadows in New York, where the US Open Tennis takes place, is incidentally named after this Dutch port, stretching back to when Manhattan Island was known as New Amsterdam. It’s a long story.

My degree was a Masters in Business Administration. As part of that process, I did an internship at Damen Schelde Naval Shipbuilding in 2005. I passed with distinction, using the Damen experience for

my dissertation, and the Group offered me a role at their head office in Gorinchem, South Holland, where many Dutch East Indiamen sailing ships used to berth after passages from Indonesia in centuries past.

My focus was on sales support for the Asia-Pacific region. Damen sent me to their yard at Changde, on the Yuan River in Hunan, Central China, for training in 2006, and for the next nine years I was their Gorinchem-based Greater China Manager, and the first Asian in the Group’s HQ staff.

Yunzhu accompanies Annelies Damen (far left) to help select art works for an Amels owner in Hong Kong

For the last six years I have been Asia Director for Amels and Damen Yachting. This has kept me very busy, and it involves a lot of travelling in Asia. At the same time, our vessels have become a more formidable fleet in Asia-Pacific, as shown in the annual feature Top 100 Superyachts of Asia-Pacific in Yacht Style.

This regional impetus began back in the early 2000s, when two Australian businessmen bought large custom Amels yachts, Ilona and Boadicea, and around the same time the Limited Editions concept was launched at a press conference in Monaco.

The first vessel in that series, the 52m Deniki, cruised Asia-Pacific extensively last year and was lately in the Balearics for the Med summer season. She still has the same owner and captain, which is something of a testament to both Amels and Limited Editions.

The Indian Ocean, Asia’s exotic seas and straits, and the vast Pacific offer so much more than the relatively tiny and crowded Med and Caribbean, but longer passages are involved, as well as island-hopping. Owners want to feel safe, which is why so many have chosen to customise vessels from the tried-and-tested Amels and Damen Yachting ranges.

Damen Yachting 77m SeaXplorer La Datcha

La Datcha, the 77m Luxury SeaXplorer reviewed in Yacht Style Issue 58, was at 53°N in the Bering Sea when this column was written in mid-2021, visiting Russia’s Kamchatka Peninsula. The Limited Editions 55m Papa was in Kaohsiung, 61m Event in Hong Kong, and the 63m Stardust in Phuket.

The 75m Lady E had been on a charter to Lizard Island in Australia’s Coral Sea, 58m Dancing Hare was in Auckland, the 51m Damen Yacht Support Vessel Umbra in Fremantle after a refit for ocean research projects, and 67m Maria and 55 m Driftwood moved on from the South Pacific to San Diego and Mexico. That is only a brief snapshot of our Asia-Pacific story.

Ilona spends most of her time in the Med, and other regionally-owned Amels vessels like the 58m Volpini 2 and 55 m Lili were at Golfe Juan and Cannes respectively, the latter we’re told with some charter timeslots available.

Event, the Hong Kong-based Amels 61m Limited Editions

Chartering is a good way to find out if super yachting is for you. Amels yachts are much in demand. New and potential owners can opt to charter a Limited Editions, like Lili for example, and really experience the size, layout, and sea-keeping ability for themselves before buying. Many of our owners have enjoyed a charter on board an Amels before purchasing.

Chinese and other Asian owners are much more comfortable and assured in what they want out of super yachting now, compared with decades ago when the industry was in its infancy.

These days I work closely with Rose Damen, a shareholder and third generation of the Damen family, to support clients in many Asian countries, and speak Chinese Mandarin, and some other Chinese dialects, as well as English, Dutch and Japanese.

The whole process, from initial drawings to final delivery, can be a beautiful journey even before passages begin, and we aim to make it as smooth as possible.

http://www.damenyachting.com

Yunzhu Jin

Yunzhu Jin is Asia Director for Amels and Damen Yachting. Born in Changzhou in the Yangtze Delta, she obtained an MBA in the Netherlands and has worked for Damen Shipyards Group companies for 16 years. Responsible for sales and marketing in Asia-Pacific, she is based in the Netherlands and regularly commutes to Asian countries to develop business.
yunzhu.jin@damenyachting.com

Custom Amels 78 unveiled ahead of sea trials
The Custom Amels 78 has been unveiled for the first time since arriving at the Amels and Damen Yachting facilities in Vlissingen in 2020.

Ocean Purpose Project: From purpose to project

Leaders / yachtstyle2020

Ocean Purpose Project: From purpose to project

October 26, 2021
5:15 pm

Former Singapore Idol finalist and TV producer Mathilda D’silva explains how the Ocean Purpose Project evolved from what she saw on and around her hometown beach in Pasir Ris.

A kelong belonging to ‘Uncle Heng’

I’m floating in a small patch of ocean between Malaysia and Singapore, and all is quiet

except for the sound of water lapping against the side of the boat. Uncle Heng’s kelong (offshore fish farm) lies a distance away from me, backlit by the early morning sunlight.

When I look down, however, a less beautiful sight greets me: fragments of Styrofoam, bottle caps and bits of plastic packaging float in clusters, bobbing here and there with the waves. This comes as no surprise. I’ve grown up seeing rubbish on the shores of Pasir Ris, the beachfront neighbourhood I’ve lived in my whole life. Plastic has always been here, and it has always been a problem.

Rubbish gathers on the coast at Paris Ris

Globally, it has been found that about 8 million tonnes of plastic waste flows into the oceans every year, making up about 60-95 per cent of water pollutants. Plastic pollution is the most widespread problem affecting the marine environment today, as many marine animals die from ingesting or getting entangled in plastic debris. It also threatens food safety, human health and coastal tourism, and contributes greatly to climate change.

PLASTIC TO FUEL

I’ve experienced the devastating impacts of ocean pollution first-hand after one fateful dragon boat race in the Philippines in 2015. While paddling in the idyllic waters surrounding Boracay’s pristine white beaches, it was impossible to tell it was polluted with untreated wastewater from the sewage pipes of hotels and restaurants.

This triggered an intense autoimmune response in my body, which left me severely sick after the trip. My hair and skin turned white, and I had problems speaking and walking. I was shocked.

In 2015, D’silva fell ill after swimming in Boracay in sea contaminated by raw sewage

Until then, I’d depended on my voice as a former Singapore Idol contestant and fast-talking community manager in the media industry. Was my life about to be totally derailed because of just three days of exposure to polluted water?

More importantly, I couldn’t understand the reason behind the pollution itself. How could anyone allow sewage pipes to run directly into beaches that account for 20 per cent of the Philippines’ tourism industry?

This sickness afflicted me after just one weekend, so what about my Filipino friends who work as lifeguards and dive instructors, or the children who play in the waters every day? What health problems are lurking round the corner, waiting to strike?

A beach clean-up with Ocean Purpose Project

There’s no cure to the autoimmune issues I have; they will inevitably get worse and worse. And my days of paddling are over. But I kept asking myself: Could there be another purpose arising from all this? Could I rethink what I know about myself? Could I start doing something today to save tomorrow’s child?

This is why I started the Ocean Purpose Project. I love sitting in rooms with PHDs and ‘industry experts’ who question why a former Singapore Idol finalist is working on converting plastic to fuel. One asked me repeatedly: “Who do you think you are?” The doubters and belittlers are fantastic motivation for me. After all, I am a rebel at heart.

In the last year, Ocean Purpose Project has achieved the near impossible. We have brought together the best-in-class industry and research partners to create the world’s first Plastic to Fuel (PTF) unit that can remove tonnes of waste plastic pollution at a profit, even if oil drops to $0.

A Plastic To Fuel (PTF) unit by Ocean Purpose Project

Each unit can convert one tonne of plastic a day into pyrolyzed oil, carbon black and carbon nanotubes, which is the stuff inside your smartphones and computers. We aim to deploy the PTF units to landfills, polluted coastal communities, eco-resorts, vessels and numerous other locations to help clean up plastic waste.

FROM SEAWEED AND MUSSELS

Beyond transforming trash into treasure, Ocean Purpose Project is working to create a single-use plastic alternative from seaweed and mussels, which we grow in partnership with the kelong uncles and aunties of Pasir Ris.

These seaweed and mussel lines will also act as natural biofilters that help improve water quality and prevent algal blooms, a huge economic pain point for the kelongs because it wipes out fish stocks in an instant.

‘Uncle Heng’ holding a mussel line that acts as a natural biofilter

We complement these projects with educational programmes, where we galvanise the community to take action and ownership over their coastal environments through organising monthly beach clean-ups at Pasir Ris Beach.

On a broader level, however, Ocean Purpose Project goes beyond just converting plastic to fuel, creating bioplastics or organising beach clean-ups. It’s the purpose I’ve found to emerge from the lowest point in my life and it drives me to wake up every day to do what needs to be done for a cleaner, healthier and brighter tomorrow.

Sustainability as we know it needs to be disrupted. It’s not just the domain of tree-huggers or corporates trying to make themselves look good on the ESG spreadsheet. It’s about creating a Blue Ocean of possibility, rewriting what ‘business as usual’ is all about. Ocean Purpose Project’s goal is to bring about disruptive change in the way we manage the problems of marine pollution through test-bedding innovative projects.

Seaweed plastic (left) and normal plastic (right)

Everyone can find their own ways to connect with the environment, whether you’re a musician, a diver or an engineer, so don’t be afraid to just go out and try your own ideas. Organise your own beach clean-up, do the research, start your own movement. When people come together, great things can happen.

I’m proof that you don’t need an Environmental Science degree or years of experience in sustainability to change the way we live. Now is the time to ‘Start Today to Save Tomorrow’.

http://www.oceanpurposeproject.com

MATHILDA D’SILVA

Although now a professional environmentalist, D’silva wears many hats. In her career and personal life, she has been a singer, actress, TV producer, radio DJ, social media manager and athlete. Today she is the Chief Purpose Officer of the Ocean Purpose Project, driving change in the sustainability sector, beginning with the ocean in her backyard of Pasir Ris, Singapore.
mathilda@oceanpurposeproject.com / www.oceanpurposeproject.com

Yacht Style Issue 61 Out Now: The Premieres Issue
Yacht Style’s Issue 61 features New Models and World Premieres 2021, Cannes and Monaco show specials, Camper & Nicholsons CEO Paolo Casani, VP Yachts founder Vivian Chan, Galeon and Tony Castro, PMG Shipyard in Thailand, ONE°15 Marina Sentosa Cove, Reviews of Ferretti Yachts, Sanlorenzo, Aquila and Bali boats, and Yacht Style Awards 2021.

Leopard 50 owner TC Wong shows wandering spirit

Leaders / yachtstyle2020

Leopard 50 owner TC Wong shows wandering spirit

September 17, 2021
2:46 pm

TC Wong made global headlines when the rapid spread of Covid left him stranded at sea in his Leopard 50 for months until he was eventually allowed into Fiji, where he has remained since. Now, the Singaporean is waiting for borders to open so he can continue his journey around the South Pacific on his beloved Ximula III.

Wong has owned his Leopard 50, Ximula III, since 2018

Wong Tet Choong, better known as ‘TC’, became one of Singapore’s most famous sailors last year. Having explored much of Southeast Asia in the past decade, he set off in early February 2020 for his biggest trip yet, sailing his Leopard 50 Ximula III through Indonesia on his way to the South Pacific.

However, as Covid rapidly spread around the world, borders quickly closed around him. His family back in Singapore were among those worried about him alone at sea, with nowhere to berth. Turned away in Indonesia, Papua New Guinea and Tuvalu – where he was able to buy and receive fuel and food from a distance – he was eventually allowed into Fiji in late April.

The episode generated news in Fiji, Singapore, Australia and elsewhere, even making international headlines through the likes of the BBC and The Guardian. However, if his situation seemed dramatic then, Wong couldn’t be more relaxed now.

Wong with his wife and children, who live in Singapore

Living on his Leopard, often at Port Denarau Marina, he has been away from his family in Singapore for over 20 months and appears in no rush to return home.

“I’ve been sailing around the islands in Fiji and I video call my family almost every day. There are so many beautiful islands to explore here,” says Wong, who had been in the country for just over a year when he turned 60 this May.

“Once the borders reopen, I’ll resume my journey towards Tahiti, visiting as many islands and atolls as I can. I believe this will take two to three more years. I’ve received many messages and well wishes from people telling me they’d love to embark on a similar lifestyle. Actually, there are many people already living the life I do.”

THE CALL OF THE SEA

Wong began boating three decades ago, picking up a small second-hand powerboat in 1992. At the same time, he picked up an interest in sailing and rented boats to cruise around Singapore with the staff of his company, Zhaplin Work.

Wong (top) started sailing in the 1990s

“That was when I started to learn more about the boating lifestyle and community,” recalls Wong, who also enjoys rock and mountain climbing. “When I was sailing, I really enjoyed being able to play with the elements, harnessing the power of the wind and adapting as it changes.”

Still, his next purchase was another powerboat, a 34ft Riviera he had from 1996-97 when he often cruised south to the nearby Indonesian island of Batam with his young family. However, as money was tight, he was unable to sustain upkeep of the boat and had to let it go, vowing to return to sea when his finances were more stable.

“When I sold off the Riviera, I promised myself I’d get a sailing boat once I had the money and time. I wanted to sail further, as there were so many beautiful islands I wanted to visit and explore.”

Wong owned a couple of powerboats

Wong’s company started to grow on the back of the innovative Ximula wardrobe system, an award-winning product still used throughout condominiums and other residences today. In 2013, after almost two decades of “working hard and saving up”, he was able to buy his first sailing catamaran, Ximula, a Lagoon 400 S2.

Wong used the boat regularly, sailing almost every week during the first year with family, friends or staff – “whoever was available and keen”. He typically sailed in Singapore and Indonesia, although early trips included a one-month expedition from Singapore to Phuket with his family.

He also joined several convoy trips organised by Nongsa Point Marina, where he learned from other sailors about Indonesia’s waters. Trips opened his eyes to the amazing islands around Singapore including the Anambas to the northeast and Tambelan and Badas to the east, off the west coast of Borneo.

Wong’s Leopard 50 Ximula III (left) and Darren Lim’s Lagoon 400 S2 (right)

“We discovered so many amazing islands in Indonesia. They’re so beautiful and the islanders were very welcoming towards us, so after these trips, I revisited these places to explore them at my own time and pace. I sailed everywhere around Southeast Asia.”

In 2014, Wong started a charter business, Ximula Sail, skippering and taking care of the yacht as his daughter Minqi ran the business and worked as crew during trips. When possible, the family still used the boat for personal trips including taking two months off in 2016 to sail to Koh Samui together with Darren Lim and his family, who were then living aboard Gracefully, Ximula’s sister boat.

Wong’s daughter Minqi on the Leopard 50

As Wong wanted more time to explore the region, he stopped skippering Ximula and Lim joined forces with Ximula Sail, which now has two catamarans and 10 staff, and is among Singapore’s most respected charter companies.

LEAPING TO LEOPARD

With Ximula occupied by charter business, Wong briefly owned a Beneteau monohull in 2017, frequently sailing to Phuket with his staff and participating in regattas. However, it was only a stop-gap measure as he resumed his search for a catamaran, a design he liked because of the comfort and space but also because the saloon and galley are much higher above the water than on a monohull.

“My wife gets seasick easily, so this allows us to have a view of the horizon even while we’re indoors, relaxing or preparing meals. I only sail for leisure from island to island, and don’t intend to cross long distances across oceans, so I prefer a catamaran for comfort compared to a monohull for performance.”

Wong’s search ended when he met Kit Chotithamaporn, Leopard’s Yacht Sales Manager – Asia, at the Singapore Yacht Show in 2017. Wong originally showed interest in the Leopard 48 on display, but when he visited Kit again on the last day, he found out it had been sold just hours earlier. Kit then informed Wong about the new Leopard 50 and Wong ordered a unit that arrived the following year, which he named Ximula III.

Wong and Lim cruised together to Indonesia’s Anambas Islands

“I really like the layout and design of the Leopard 50. Firstly, I love the door at the front which enables me to easily access the foredeck from the saloon and allows smooth airflow through the interior. The forward cockpit is a nice area to chill at while we’re at anchor, as it faces the breeze and is sheltered from the sun,” Wong says.

“Secondly, the galley and furniture are forward-facing, which is especially important for me when I sail alone for long distances, as I can keep a lookout while preparing my meals. The panoramic view also helps reduce my wife’s seasickness.

“Thirdly, I like the helm at the side so I can have visibility of both the flybridge and the aft cockpit and saloon. It also makes berthing much easier for me, as I can have a clear view of the berth without running between port and starboard.”

Wong’s family and friends on his Leopard 50, his second sailing cat

Wong sailed his Leopard 50 up and down both the west and east coast of Peninsular Malaysia during multiple trips to both Phuket in the Andaman Sea and Krabi in the Gulf of Thailand, spending between one and three months there each time and exploring the area.

He also revisited his favourite cruising grounds in Indonesia while becoming increasingly attracted to exploring remote areas and engaging with people not typically used to visitors.

“My favourite part about sailing is the opportunity to visit remote islands not normally accessible by plane or other forms of transport. I’ve learnt a lot about life through the eyes of islanders, who always show us amazing hospitality. Some even brought us on a tour around their islands or invited us to their homes and treated us to delicacies like freshly caught lobsters,” he says.

Wong has become an experienced all-weather sailor

“I used to think about what I can give back as a gift of appreciation for their warm welcome but learnt that material items were not meaningful to them since they lived very simply. Eventually, I decided to bring along an instant printer on board so I could take and print photos of them so they could keep them as memories. I felt this was more meaningful.”

THE ADVENTURE BEGINS

Having visited much of Thailand, Malaysia and Indonesia’s Riau Archipelago, Wong started to expand his horizons. “I realised I still had so many more destinations I wished to explore so started to set my sights on the South Pacific, which I’d heard so much about.”

Wong painstakingly planned and mapped out a three-year journey that would take in Tahiti and other islands in French Polynesia, researching online and consulting friends who had sailed in the area. Finally, on February 2, 2020, he embarked on his journey from Singapore with two friends, although he was soon sailing alone after they disembarked in Indonesia at the end of the month.

Wong can live for months alone at sea

“I had the opportunity to spend time at many remote islands that were over 100nm away from the mainland, islands with no electricity or Wi-Fi, islands I don’t even know the names of. As always, I met many amazing islanders who never hesitated to show me around.”

Wong was heading towards Papua New Guinea, where he planned to stock up on fuel and food, but his Raymarine auto-pilot broke while still in Indonesian waters. Seeking a harbour, he was sent away as lockdown had just begun.

As he neared PNG, his family informed him that it had also closed its borders. Soon, all the South Pacific islands were in lockdown. He continued east to remote Tuvalu, where he couldn’t land but was

allowed to buy food and fuel, using his rubber dinghy on a line to make the exchange at sea.

In Tuvalu, Wong was able to buy food from local authorities

As if things weren’t tough enough for Wong, strong winds from Cyclone Harold a full 500nm away led to Ximula III hitting coral and damaging a propeller. Back home, his family contacted Singapore’s Ministry of Foreign Affairs, which tried to secure a place for him to dock in Fiji.

“My family were very worried when borders started closing and I was facing trouble, being chased out of islands where I was trying to seek shelter,” he says. “I constantly kept them updated on my location and status whenever I had some data connection, but it was still a scary situation when things were breaking down and I could not find shelter to fix these issues.”

FINDING FRIENDS IN FIJI

Good news finally arrived when he was informed that he would be allowed into Fiji if he passed a Covid test, which he was confident of passing after spending three months at sea and two months completely alone.

Wong, who has been in Fiji since the end of April 2020, wants to continue exploring the Asia-Pacific

“We’re still very thankful to our Singapore Government for responding to our call for help and reaching out to various countries to allow me entry. The wait was stressful, but we managed to get special approval from Fiji, considering the good relationship both countries have and the desperate condition I was in,” Wong says.

“We’re also immensely grateful to the Fiji Rescue Coordination Center for taking over the whole situation. They monitored my location, communicated with my family and provided them with updates, and eventually towed me out of the strong winds and currents to safe harbour. They were super professional and helpful.”

Due to the media coverage, Wong was contacted by and met many international sailors and fellow Singaporeans based in Fiji, where he has made himself at home, living on Ximula III.

“On my journey, I’ve met and been inspired by many Singaporean couples or families who live on the water and many international sailors who have sailed around the world,” he says. “There’s an amazing sailing community here in Fiji and I’ve made many friends from many different countries.”

Wong will continue his South Pacific journey on Ximula III once borders open

Wong has also had ongoing support from Leopard, which continues to advise on repairs and offer help on his travels, having also assisted with parts and spares before he set off.

Once borders open, Wong still plans to use Fiji as his base as he resumes his journey around the South Pacific before eventually sailing back to Singapore and stopping at islands he visited on his outward leg. As of now, Wong doesn’t harbour any dreams of crossing the Pacific or travelling around the world.

“I have not even covered the Philippines, which has over 7,000 islands, so I believe Southeast Asia and the South Pacific are enough to keep me excited for at least 10 more years.”
www.leopardcatamarans.com
www.facebook.com/tc.wong.98

Leopard adds new spot on 42
One of seven models reviewed in Issue 60 that will appear at the Cannes Yachting Festival, the new Leopard 42 has evolved from a proven design and added a new hangout spot with its upper lounge to offer a practical, seaworthy and spacious entry-level model. By Kevin Green.

Farfalla Marine: Majesty and more in Asia

Leaders / yachtstyle2020

Farfalla Marine: Majesty and more in Asia

August 25, 2021
1:27 am

Farfalla Marine represents the Majesty, Nomad, Oryx and Silvercraft brands as Gulf Craft’s Brand Ambassador in Hong Kong and four Southeast Asian countries. As it bids to raise the UAE builder’s presence in this region, offering models from 31-175ft, the well-connected dealership is offering special packages including yacht management, crew training and even marina berthing.

The Majesty 100, one of Gulf Craft’s most popular superyachts

When Gulf Craft announced the delivery of the 10th hull of its Majesty 100, one of the best-selling models of its flagship brand, the builder’s management team were proud that the yacht would be spending time in Turkey before exploring the Mediterranean.

Mohammed Alshaali, the shipyard’s co-founder and Chairman, said the new delivery would “take Gulf Craft’s flag to more exotic destinations”. Meanwhile, CEO Talal Nasralla outlined the wide spread of markets the Majesty 100 had been delivered to since the 104ft, 199GT superyacht made her debut at the 2017 Dubai International Boat Show in the UAE, where Gulf Craft was founded in 1982.

“The Majesty 100 has become one of Gulf Craft’s best-selling superyachts,” Nasralla said. “With deliveries made to Europe, Australia, Russia, Middle East, Africa and America, we continue to build our geographic footprint with this amazing vessel.”

Beach club on the Majesty 120

One notable area missing from the list was Asia. However, Farfalla Marine is looking to raise the profile of Gulf Craft in this region following its appointment as a dealer for Majesty and three of the builder’s other brands: Nomad long-range yachts, Oryx sport cruisers and Silvercraft fishing and day boats.

ASIA NETWORK

Co-founded by Managing Director Mark Denny-Fairchilde and the late David Neish, Farfalla Marine represents Gulf Craft in Hong Kong as well as Thailand, Vietnam, Cambodia and Laos.

Jason Hawkes, Group General Manager, explains that since Farfalla Marine was founded, the company has been working hard and fast to set up an expansive network of offices and partners as it prepares to help Gulf Craft and its yacht brands gain market share in Asia.

Jason Hawkes, Farfalla Marine’s Group General Manager

“Farfalla Marine is a bespoke yacht services company and unique in the region in terms of the breadth of services and partnerships we offer our clients,” says Hawkes, who has been based in Hong Kong since 1994, also working in Shanghai for three years.

“The company was founded on the principles of providing an exceptional level of customer service, offering bespoke luxury yacht hospitality management and advanced crew training services to satisfy the needs of yacht owners seeking the ultimate luxury lifestyle experience.”

In Hong Kong, where Michael Shaun Poon is a Partner and Executive Director, the company plans to open a new office and showroom later this year. In Thailand, the dealer has a base in Bangkok, a new office in Phuket Boat Lagoon and is set to open a location in Ocean Marina Yacht Club near Pattaya in the Gulf of Thailand.

Farfalla Marine has opened an office in Phuket Boat Lagoon

In Vietnam, Farfalla Marine has offices in Ho Chi Minh City and Halong Bay, while in neighbouring Cambodia it operates in the capital of Phnom Penh. Brett Matthews, Michael Aumock and Caroline Le oversee operations in Thailand, Vietnam and Cambodia.

The company even has a European presence in the UK, where Simon Toombs works as Group Customer Relationship Director in London, while there are plans to add a new office in Southampton, at Ocean Village Marina.

MAJESTIC RANGE

Farfalla Marine is among a global network of dealers representing Gulf Craft, which is well established as one of the world’s leading yacht builders. North of Dubai, its 4.3-hectare facility in Umm Al Quwain is supported by a service centre in nearby Ajman, while it also has a one-hectare production facility in the Maldives.

Gulf Craft’s Majesty 140

Initially manufacturing small pleasure craft from 1982, Gulf Craft moved up to building yachts about a decade later and since 2000 has been a leading builder of superyachts. Having built over 10,000 boats over almost four decades, the company today builds models across a remarkable range from 31-175ft and has stated its ambition to be among the world’s top-five superyacht builders by 2025.

Internationally, Gulf Craft is best-known for its Majesty Yachts brand and in late May it staged the world premiere of its flagship Majesty 175, the world’s largest composite production superyacht.

Earlier this year, the brand delivered the first hull of the Majesty 120, while other recent models from its superyacht range include the Majesty 140, which exhibited at the Fort Lauderdale International Boat Show in 2019 as part of the company’s strategy to grow in the US market.

The Majesty 120 is a new model

However, Farfalla Marine is currently excited about a yacht at the other end of the brand’s size scale, the new Majesty 49, part of the brand’s yacht line that also includes the Majesty 62 and the new Majesty 62 Maldives, which has been designed for tropical resort environments so is ideal for Farfalla Marine’s Southeast Asian markets.

Hull one of the Majesty 49, fitted with twin Volvo Penta IPS650 engines, is ready for immediate delivery, having been launched over the summer. Hull two of the new 48ft model is expected in November and will feature three or four Mercury Verado V8 400hp outboards.

Farfalla Marine is offering a special deal for the Majesty 49 in two of its key markets in Asia. In Hong Kong, the purchase price includes a three-year membership at the new Lantau Yacht Club, a 12 month management package, advanced crew training and AGlaze hull treatment.

Gulf Craft’s new Majesty 49

In Phuket, the offer includes 12 months of berthing at Boat Lagoon, as well as the 12-month management package, crew training and AGlaze hull treatment that Farfalla Marine offers as standard on all yachts it sells.

MORE BRANDS

While Majesty is Gulf Craft’s flagship brand, Farfalla Marine sells several other yacht brands, products and services. Both Gulf Craft and Farfalla Marine have high hopes in Asia for Nomad Yachts.

Nomad’s collection of long-range models from 55-95ft include the explorer-style 65 SUV, 75 SUV and 95 SUV, which each feature vertical windshields on both the main deck and enclosed skylounge, as well as a main-deck master suite.

Gulf Craft’s Nomad 65 Fly with solar power

Nomad also produces the 55, 65 and 75 Fly models, which have open flybridges and a more conventional superstructure. Farfalla Marine is a strong supporter of the new Nomad 65 Fly with a solar-power system, three guest cabins, two crew cabins and a grand range of 2,500nm at eight knots.

In terms of smaller models, the dealer believes the Oryx 379 sports cruiser and Silvercraft’s brand-new SilverCat Lux 40 with solar power – hull one was recently launched – could prove popular in Asia.

“Gulf Craft models are perfect for Farfalla Marine’s Asian regions because of their specs,” Hawkes says. “With the extreme heat in the UAE, Gulf Craft produces yachts particularly well suited to hot and humid climates, just like in Hong Kong and Southeast Asia. On all its models, it provides superior air-conditioning units that are often 30-40 per cent more powerful than those supplied by typical European shipyards.”

The Nomad 75 SUV from the line of long-range yachts

Farfalla Marine is also a Brand Ambassador for Dominator Yachts and enjoys a close relationship with the European builder’s principals. Models include the Ilumen 28M, other Ilumen yachts and the new Mini-Ilumen bespoke luxury tenders.

“Bespoke services are the main strength of Farfalla Marine Group, so Dominator Yachts is an ideal partner,” Hawkes says. “Dominator is a renowned international shipyard that creates fully-customised superyachts, and the Farfalla Marine ethos is to establish a bond with its clients that goes beyond the simple shipyard-owner relationship.”

Silent-Yachts appoints Farfalla Marine
Silent-Yachts, a global leader in solar-electric catamarans, has appointed Farfalla Marine as its official dealer in three Southeast Asian countries.

In August, Silent-Yachts, a pioneer in sustainable yachting, appointed Farfalla Marine as its official dealer in Thailand, Vietnam and Cambodia. Silent-Yachts is currently building a new generation of models starting with the Silent 60, which is being built by the brand’s own shipyard in Italy and PMG Shipyard in Thailand, and will premiere at the Cannes Yachting Festival from September 7-12.

“Silent-Yachts is a perfect, modern brand to add to Farfalla Marine’s portfolio,” Hawkes said. “They produce the most ‘silent’ yachts out there with their superb, beautiful and fully solar-powered catamarans.”

TOYS & PARTNERS

Along with its emphasis on yacht management and service, the dealership has also secured representation of several electric water toys that can easily be carried on most of the yachts it sells.

Farfalla Marine’s toy portfolio includes Sublue underwater scooters

Farfalla Marine’s toy store includes Sublue underwater scooters and Wave Jam jet boards, both of which are hand-held and can operate for about an hour on a single charge. The company also sells Waydoo hydrofoils, which allow users to ‘surf’ above the water at up to 42kmh.

Partners are another of the dealer’s strengths and include AGlaze and MMaximus Yacht Hospitality Academy, which supplies silver-service crew training and can train crew to the highest level in any of their territories.

Farfalla Marine believes it’s essential to offer customers a global network of partners that unite the luxury yachting sector and the luxury product and luxury lifestyle industries. Already, it has collaborated with 30-plus high-end brands, which provide added benefits for yacht owners and shared branding.

Interior of the Gulf Craft Majesty 120

In the luxury yachting sector, the company’s extensive partner network covers services such as naval architecture and yacht design, charter, superyacht fuel, superyacht accessories, insurance, financing, registration, administration, customs support, marine consultation, management, marina development and even yacht scents.

Other partners represent private jets, chauffeur services, travel, hospitality, lifestyle management and legal advisory through to shopping, fashion, linens, chandeliers, sculptures and bespoke corporate gifts.

Majesty is Gulf craft’s flagship range

“Our clients are our friends and they’re taken care of through personalised customer-care programmes such as our exclusive Farfalla Marine Club,” Hawkes says.

“This is available worldwide to both existing and future yacht owners and to our partners, offering special benefits from exclusive dining events to private jet charter offers and bespoke VIP shopping. A client once, a friend forever!”

www.farfallamarinegroup.com

www.gulfcraftinc.com

www.silent-yachts.com

Gulf Craft orders soar in 2021
The Middle East builder announced that orders in the first half of 2021 are already well above its total for all of 2020, as it looks ahead to the world premiere of its flagship Majesty 175 at the Monaco Yacht Show.

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