Custom Line 140’

Asia has the two factors necessary for a superyacht boom. Heavenly coastlines. And hard cash.

Start with the destination. Indonesia has more islands than the Mediterranean. Thailand has five times more coral species than the Caribbean. The Philippine Sea is larger than the Mediterranean and Caribbean combined. End with the money. Singapore is the richest country per capita. In 2030, Indonesia will be a top-10 economy. Over the last decade, ASEAN’s annual economic growth averaged 4 per cent. Europe averaged a paltry 1.5 per cent. Who’s opening the Krug now?

Which begs the ultimate question. Given the waterscapes and the wealth, why aren’t more boats specifically designed for the Asian market? One word: ignorance. Superyachts are built primarily by Europeans. Historically, Europe has been clueless about the world’s most dynamic, most populous and most resource-rich continent.

Benetti B.Now 52M

Allow me to share two nuggets of Euro wisdom I overheard at a recent Monaco Yacht Show. “Asians don’t go out in the sun.” What about the Chinese I recently saw on yacht charters in the Maldives? “Asians don’t have a sailing legacy.” Never heard of Zheng He, Sindbad or the Olympic gold medallist Xu Lijia? Give me a break.

NEW GENERATION

“Preconceptions one might have had about Asian clients 15 years ago are no longer relevant,” says Ewa Stachurska of Sanlorenzo Asia Pacific/Simpson Marine in Hong Kong, who has worked in Asian yachting since 2011. “Today’s customers are highly discerning, experienced in luxury lifestyle and well-travelled.”

Hong Kong, Singapore, southern China and Thailand experienced greater initial exposure to yachting. These regions are currently witnessing the highest growth – data points to an annual market expansion of 20 per cent. In addition, Stachurska states, “markets like the Philippines, Vietnam and Indonesia have enormous potential”.

Benetti B.Now 52M

“The new generation of Asian clients are different from their parents,” explains Daniela Petrozzi, Sales Director of Benetti, which has sold over 40 superyachts in Asia since entering the market and is part of the world’s biggest superyacht-building group. Many Asian owners were educated in London, holiday in The Bahamas and bank in Zurich. “They adopt global lifestyle elements as well as requesting large areas for spending time with friends and family,” she adds.

Petrozzi believes the synergy between east and west is distilled in Benetti’s brand-new Motopanfilo 45M with its patented Veranda Deck®, which launches in 2026. A 9m beam encourages familial conviviality in marinas, where much Asian usage takes place. Retractable canopies and slide-open saloon doors can create the perfect micro-climate in any destination.

Benetti Motopanfilo 45M

“The biggest issue in Asia is humidity and high temperatures,” agrees Salih Kucukoglu, Numarine’s Sales Manager for MEA & APAC. “Heavy rain can suddenly start when you are still wearing your T-shirt.” Tropical air-conditioning systems rated up to 50°C chill every quarter of the six Numarine yachts upgraded and sold specifically for Asian cruising, including inside the engine room.

Another challenge is cultural. “Asian clients like to entertain in groups,” says Laura Verbrugge, Sales Manager for Fraser Asia, who has worked in Asian yachting for 12 years. Colleagues, cousins and grandchildren dine around the same rounded table. Boats also form a private place for business meetings, with the quality of one’s yacht dictating the power behind the deal.

BEHIND THE BRAND

Most important of all, yachting in Asia is all about the brand. In a fast-emerging market packed with first-time buyers, potential owners will place their trust in a marque with long-term presence.

“If buyers know you have an established office in Singapore or Hong Kong that they can visit in person, that helps secure your identity,” says Petrozzi from Benetti. “Angel Zhou, our President of Sales for Asia, is a local legend.”

Sunseeker 90 Ocean Enclosed

One of the first hot brands in Asia was Sunseeker. Two decades ago, the British builder’s Ferrari-fast lines, showcased at boat shows across the continent, chimed with families flush with first-time wealth. “In Asia, one highly visible owner can strongly influence brand momentum,” says Verbrugge.

Princess, also from the UK, has long channelled the mood for quieter luxury in Southeast Asia and China. Princess’s massively popular Y85 and X95 are among the region’s most popular models in their size range.

Princess X95 in Singapore

In recent years, however, Princess stumbled when a younger cohort demanded entertainment spaces, oceanside experiences and extended range. The forthcoming 106 Odyssey series addresses those concerns with maximal tri-deck volume inside a marina-friendly package.

MADE IN ITALY

For some, the allure today is Italian. “Concepts of luxury and design are inseparably linked to Made in Italy,” believes Federico Rossi, COO of Rossinavi. “Italian manufacturing represents a globally recognised benchmark for quality, craftsmanship and aesthetics,” from Alessi to Zegna.

Nolimits fleet

Rossinavi’s explorer brand Nolimits teamed up with the Shanghai bureau of Italian style house Pininfarina to insert culturally resonant touches into Nolimits’ models including Asia motifs and calm colours, with additional space for “karaoke, an informal saloon and a whiskey bar”.

“I’ve seen a 24m yacht with interiors fully styled by Fendi,” Verbrugge says. “And another where the captain’s seat was designed by Bentley.”

Custom Line Navetta 30

In the 30m-plus range, she notes the ongoing popularity of Custom Line from the Ferretti Group. For 40-60m, she believes Benetti could be a next step for many owners upgrading, particularly with the B.Now series, which pairs steel hulls and swift delivery times with an absolute synergy with the sea.

The current must-have marque is Sanlorenzo. “They have the perfect transition between sizes, starting from 70ft to 90ft,” says Stachurska from Sanlorenzo Asia Pacific. “People in Asia believe Italian shipyards are the best.”

Sanlorenzo yachts are highly customisable. North Asia clients have requested total layout reconfigurations, with lower-deck cabins transformed into entertainment lounges or playrooms.

Sanlorenzo’s SL and SX ranges struck a chord in Asia with their spacious interiors and versatility.

Sanlorenzo SD132

Smaller SD models are perfect for freshly minted newbies who require a flexible yacht for day cruises or long-distance trips. Stachurska believes the opening of China’s Greater Bay Area, which has over 1,000 islands to explore, will create a compelling coast-hopping destination for private owners between Guangdong province, Hong Kong and Hainan.

NEXT GENERATION

The late 2020s trend in Asian yachting is the demand for bigger yachts, with bigger range. Asia has magical moorings from the Andaman Islands to Palawan, but these two examples are 1,500nm apart. When cruising further, Sanlorenzo owners can upgrade to the SD series’ big daddy, the SD132, which can log 3,000nm with ease.

Baglietto DOM133

In terms of charter, Thailand and Indonesia remain number one spots, but Fraser Asia has fielded growing requests for Japan. “Okinawa is tropical, beautiful and has clear water, and the government is developing marinas,” Verbrugge says. All these facts point to bigger boats. Verbrugge sees 35-50m as the trending market range. “Baglietto’s DOM series is particularly well suited to the region.”

The Italian shipyard’s DOM115 and DOM133 are stable with a shallow draft and well-protected decks ideal for tropical cruising. With a range of between 2,800nm and 3,400nm, the DOM line allows owners to comfortably cruise between major Asian hubs such as Phuket, Singapore and Hong Kong, while also accessing remote destinations like Palawan or Indonesia’s outer islands.

Baglietto DOM115

Over the last 10 years, “owners gained experience and gradually upgraded from sub-80ft yachts to larger vessels,” confirms Kucukoglu from Numarine. “Buyers of our 37XP,” which has a whopping 6,000nm range, “are far less dependent on marinas or frequent refuelling, which is particularly important in regions where large yacht infrastructure is still developing.”

The model’s space allocation dovetails with Asian cruising, he believes. The 732sqm of living space is split almost 50/50 between interior and exterior. “On a hot and humid day in Asia, that balanced distribution of space makes life on board much more comfortable.”

A final factor will affect yachts produced for the Asian market in the coming decade. Buyers are familiar with the facts and aren’t afraid to say it.  “Asian families are more involved compared to the past when they had a person filtering the communication,” concludes Petrozzi from Benetti. The next generation of Asian owners want to be “first in line, with a yacht custom-built for Asia, from a brand they can trust”.

Note: The original article appears in Issue 88