Leaders

Interview: Lester Lam, Chairman, Camper & Nicholsons Asia

Leaders / yachtstyle2020

Interview: Lester Lam, Chairman, Camper & Nicholsons Asia

December 9, 2020
7:56 pm

Chairman of Camper & Nicholsons Asia and sitting on C&N International’s Board of Directors, Lester Lam explains how the ‘original yachting company’ pre-empted the challenges and restrictions of Covid by investing extensively in “a strategy for a digital world”.

Lester Lam, Chairman of Camper & Nicholsons Asia. Photos: C/O Camper & Nicholsons International

It has been over four years since Lai Sun bought into Camper & Nicholsons in 2016, so how would you describe the journey so far?

I have been yachting in Hong Kong and the Mediterranean all my life and it’s my passion. The transition from being a yacht owner to being involved in the yachting industry by playing a role in the most prestigious and oldest brand, Camper & Nicholsons International, is simply amazing.

Where have most of your clients in Asia come from?

Camper & Nicholsons is owned by Lai Sun Group, which is a group of five companies listed on the Hong Kong Stock Exchange, so Asia is certainly our stronghold. This allowed us direct access to penetrate the Asia market. Most of our clients in Asia are from Hong Kong and Chinese clients who reside in Hong Kong. However, we have recently experienced increased traffic from Australia and Thailand.

The 41.3m Ocean Emerald, pictured at the 2019 Thailand Charter Week, is among C&N’s charter fleet and also listed for sale

How do clients in Asia differ from clients in Europe, US and other traditional superyacht markets?

Clients from Asia have a great tendency towards new yachts or recent brokerage yachts. Furthermore, most clients, even first-time buyers, are very well informed and lean towards to the well-established brands from Italy, UK, Germany and Netherlands. One notable trend is that Chinese owners trade up quickly and often have multiple yachts in Hong Kong and overseas.

How would you evaluate Camper & Nicholsons’ business in Asia, in terms of new builds, brokerage and charter?

In Asia, we experienced a wonderful 2020 in brokerage. Having sold one 60m, one 50m, one 38.5m and other yachts, we can say brokerage is the bulk of our business. Due to the pandemic, many of our services have been affected, as has been the case for the entire industry. However, we enjoyed a successful and prolific year within our new-build activity. With six vessels sold and three under project management at five of the world’s top shipyards, it was a stellar year of activity that bucked the industry trend.

The jacuzzi on the Norman Foster-designed Ocean Emerald, which had a full interior refit in 2019 and is among the best-known Asia-based superyachts

How have you and the company managed interaction with clients and prospects this year following the need for social distancing and reduced travel?

We have strong teams across Asia-Pacific including in China, Hong Kong, Thailand, Malaysia and Australia. This has allowed us to coordinate effectively internally, as we can still have a Camper & Nicholsons International (CNI) representative meet any client face to face in any of these regions.

We still have to respect social distancing guidelines, though, and we think it is general etiquette to avoid close interaction when there is a spike in confirmed cases in any particular areas. When this is the case, we utilise online platforms like we did when organising a series of webinars for clients with prestigious partners like UBS bank or a 28-minute video tour by the Captain of Lady Moura, which was by invitation only. So again, being quick in adapting our strategies and thinking remains key to sailing through these difficult times.

A Sunseeker 131 Yacht based in Hong Kong, Rhine was built for an Asian owner and is now for sale through Camper & Nicholsons

Like in the US, yachting in Hong Kong appears to have benefited from Covid. Has this helped your business and what other markets have performed positively?

Actually, yachting has experienced a full revival in Hong Kong because of Covid. Yacht owners have taken social distancing to the extreme. After all, what’s safer than being in the middle of the sea! We have also experienced a habitual change whereby owners are spending more time on their yachts. Instead of a day trip, owners are staying overnight on their yachts and in some cases for the entire weekend.

We have been approached by many clients making their first purchases. In terms of charter, we have also seen a huge surge in demand, especially in the day-charter segment. Also, the day-charter business has also seen a shift whereby guests are able to enjoy cruising and excursions. All in all, a full charter experience!

Do you think the new Lantau Yacht Club will encourage and attract more visiting and locally owned superyachts in Hong Kong?

Certainly. The Lantau Yacht Club has created much-needed berths for large superyachts. For sure, this will allow yacht owners to make bigger purchases.

Among C&N’s sales fleet, the 65m Benetti Ambrosia is one of the most famous Asia-based superyachts; Photo: Thierry Ameller for Benetti

What are your hopes for Asia’s established charter markets like Thailand and Indonesia, which have suffered from a drop in tourism? When do you hope travel restrictions will relax enough for charterers to have the confidence to visit these destinations for a week or two?

Charter by foreign guests who need to fly in will not happen until the travel restrictions are completely lifted, although we are starting to see positive signs. Nonetheless, we have seen a surge in local charters in recent months.

During the weekends in Hong Kong, there could be 10 yachts waiting at Central Pier to pick up guests in the morning. It’s quite a scene! Guests are bringing their bikes and hiking shoes for their weekend charter trips, so they can enjoy different activities in the many secluded islands. It’s the same situation in Phuket, where charters are starting to pick up due to clients flying in from Bangkok or other cities in Thailand.

Can you talk about some of your leading yachts for sale and charter?

We are proud of our sales fleet in Asia, the most well-known of which is the 65m Ambrosia. In addition, we have 13 yachts over 30m. Our charter vessels in Australia, Thailand and Indonesia are receiving extremely positive feedback and attention. Recently, we added the 103ft Azimut Aquarius and have a few more in the pipeline.

Based in Indonesia, the 65m Lamima is the largest luxury phinisi for charter

Before Covid, C&N was already extensively developing its digital platforms. How has Covid and the reduced travel and client interaction forced the company to further develop its online resources?

Our digital and tech transformation started with the acquisition of Nowboat, whose team of five in house developers quickly became the heart of our ecosystem. They developed ad hoc solutions for clients like our brand-new yacht accounting software, database, Fast Fleet offering and more.

But the starting point of all these actions has always been that we don’t need a digital strategy but a strategy for a digital world. In that sense, we felt ready to engage our clients across social media platforms, editing live tours of yachts, enhancing our EDM activities, expanding our retargeting campaigns, setting up our own brand webinars and so on. I think it pushed us to accelerate, but it felt like we were on the right track.

Can you expand on your online developments with Yachtseeker?

Currently still in its first initial stages of development, Yachtseeker is similarly being created to alleviate and resolve fundamental inefficiencies within the yachting industry, especially in the charter

market.

The 30.3m Hummingbird is one of only a few charter superyachts based in the Philippines

Usually when a potential client would like to book a yacht charter holiday, they need to go through a variety of hoops to get a confirmation. It’s a process with many steps, like contacting the yacht charter broker, selecting the yachts available, checking with the captains, signing the contracts and waivers, paying a deposit and so on.

Yachtseeker’s aim is to reduce those steps to just one, all within the same platform, so a process that can sometimes take a few days will now be done in the space of an hour. Through Yachtseeker, yacht availabilities are consolidated on one platform with all details needed, contracts can be signed digitally, and the payment processing is safe with the application of Know Your Client (KYC), an extra layer of service we provide that’s not directly linked to the payment gateway.

As a yacht owner yourself, have you spent more time on the water this year?

Due to travel restrictions, I have certainly spent more time on my yacht. As a matter of fact, we have just completed another yacht purchase for the family to be shipped to Hong Kong in the coming months.

Camper & Nicholsons Asia is selling the 42.5m Explorer Ice Class, which will be built in Turkey

I always believe that we need to learn something new to keep our minds sharp and engaged. In the summer, my friend and I picked up wake surfing, which became one of the most popular water activities in Hong Kong.

Finally, what are your hopes for Camper & Nicholsons by 2030?

We wish we could read the future this far ahead! Certainly, the exercise of looking at the next five or 10 years has become difficult and 2020 was a master lesson in that, but we still need to do it and try to build a vision.

We are a luxury service company. We wish to offer our clients a one-stop, 360-degree experience with the best professionals you can find, with working procedures and mindsets that are future proof – compliance-wise, digitally-wise, tech-wise and so on. We want to be the best at what we do and learn from our clients to tailor and adapt our services constantly.

www.camperandnicholsons.com

The full version of the interview will appear in Issue 57 of Yacht Style

Lawrence Chow on Asia’s Brave New World

Leaders / yachtstyle2020

Lawrence Chow on Asia’s Brave New World

December 8, 2020
4:07 pm

The 2020 Asia Boating Dialogue created an online platform for communication and cooperation between boating associations and other national and regional representatives, with concerns ranging from the classification of yachts to the cruising connections between countries.

Slide showcasing information and data compiled from the Asia Boating Dialogue

Imagine a world in which we have a network of reciprocating marinas to provide the infrastructure for boaters to access all of Asia’s 183,491km of coastline. This network forms a cruising corridor from Japan all the way down to Indonesia, expanding cruising grounds and increasing interest in recreational boating across the region.

Productive dialogue between different countries in this network leads to better infrastructure planning and standardised government regulations. In this ideal world, regulations between borders in Asia are consistent and transparent, enabling people to travel between countries on their own boat or a charter yacht as easily as taking a flight before Covid-19 struck.

Already, the Aseanarean Bluewater Alliance in Southeast Asia and the Greater Bay Area in southern China are examples of regional networks that have the potential to connect and form a strong marina network in parts of the region. By extending this network, we can form a platform for dialogue and create the infrastructure for the industry to grow.

Perhaps this all seems quite hopeful, especially post-Covid. But this ideal world is what most yachting associations in Asia are aspiring to as we discovered in online discussions at this year’s Asia Boating Dialogue, comprising two 120-minute webinars and including 14 presentations from across the continent.

CLASSIFICATION & REGISTRATION

At the same time, developing yachting countries like India, Vietnam and China are among those seeking to standardise Customs, Immigration and Quarantine (CIQ) regulations, develop infrastructure and grow boating locally.

Speakers in Session Two of the two-part Asia Boating Dialogue

Developing markets in Asia often face challenges that stem from poor boat-registration regulations, complex CIQ procedures and lack of government support for the industry. In such countries, regulations for recreational boat registration are often the same as those for commercial vessels, making the process lengthy and difficult.

As such, many marina industry associations (MIAs) in Asia have been lobbying their governments for standardised recreational boating regulations by accepting certification from ship classification societies, ISO (International Organisation for Standardisation) and CE (Conformité Européenne) standards.

To support this effort, ICOMIA (International Council of Marine Industry Associations) has a Regulatory Reference Guide (RRG) that provides a central depository of regulations for MIAs to use when lobbying with their respective governments for standardised regulations.

For example, the Hong Kong Marine Department now widely recognises classification society regulations from the likes of RINA, DNV and Lloyd’s for vessels over 24m, and accepts EU Recreational Craft Directive – and therefore ISO standards – for vessels under 24m.

Discussions between the Hong Kong Boating Industry Association and the Hong Kong Marine Department since 2018 brought this into the local vessels’ Code of Practice in August 2020, helping to make registration of boats a straightforward process and raising boat safety standards to internationally recognised levels.

CUSTOMS, IMMIGRATION & QUARANTINE

Apart from the challenges with registration regulations, another obstacle for the industry in Asia is the difficulty of travelling across borders because the CIQ procedures for visiting yachts vary significantly among different countries and ports.

Map showing the network of marinas in the Aseanarean Bluewater Alliance

As such, most MIAs are seeking to standardise CIQ procedures and make such information more transparent and accessible to yacht owners and captains. Once again, ICOMIA’s RRG plays an important role in being a valuable database that provides the latest regulations and procedures.

Developing markets in Asia can reference the regulations and convince their own governments to standardise CIQ procedures, making it much easier to cruise around Asia.

Standardised boat registration and streamlined CIQ regulations would make boating more accessible and provide the opportunities for boating to grow in the region. However, to truly facilitate this growth, a proper physical marina network needs to be in place.

Forming such an infrastructure network is particularly important for markets where cruising grounds are limited like Singapore, Shenzhen and Macau. This network has already taken shape in various pockets in Asia.

The Aseanarean Bluewater Alliance was formed to promote the nautical lifestyle and marine tourism in Southeast Asia, and support cruising yachts, by offering a network of marinas connecting the 10 ASEAN nations of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

Currently, the network features 13 marinas in Singapore, Malaysia, Thailand and Indonesia, and has the potential to expand.

CONNECTING SOUTHERN CHINA

In other parts of Asia, there are many new regional hubs that have lots of potential such as the Greater Bay Area (GBA), comprising Guangdong, Hong Kong and Macau. Just as the GBA cities are now connected with a sophisticated ground transportation network, the coastal cities in the area could form a marina network.

Presentation of southern China’s Greater Bay Area covering Hong Kong, Macau and Guangdong province

The various MIAs could gather to share information on the CIQ procedures and compile a list of marinas for the visiting yachts. The government efforts to connect the cities and open the borders could lead to expanding the cruising grounds for Macau, Zhuhai and Shenzhen, which have limited options.

Hong Kong could become the nautical tourism capital of the GBA, as yachts from the neighbouring cities could visit the scenic islands on their personal yacht or charter a boat. Zhuhai could become the ship-repair hub of the GBA as the city has numerous world-class shipyards.

Macau could continue to become a major entertainment hub, where boats from surrounding cities could visit and dock for a week of fun. The development of the GBA provides the opportunity for the industry to grow and extend this network further.

Hainan can play an important role in connecting East Asia with Southeast Asia, due to its strategic location at the southern tip of China and its new status as a Free Trade Port. With government support, boats are exempt from all tax after registration in Yangpu Port and foreign vessels can visit for up to 90 days at a time and up to 183 days per year.

More details on the tax-free regulations and charters could be released by the Chinese government by late November and help underline why Hainan could become a particularly important node in the region’s marina network.

For this network to work on a grand scale, more moorings and marinas are needed in developed markets to accommodate visiting yachts. Hong Kong and Japan are suffering from a lack of berths, which affects industry growth and the potential to fulfil their roles as leaders of such a marina network in Asia.

Lawrence Chow, Asia Representative of the ICOMIA Executive Committee

If more moorings and facilities are created in these mature markets, the potential for growth would be tremendous. Asia has over 100,000 ultra-high-net-worth individuals (net worth upwards of US$30 million) and the number of wealthy individuals is set to grow faster in Asia than the rest of the world. Coupled with a developing infrastructure network, the boating industry in Asia has tremendous potential to grow.

To accelerate this growth, developing yachting markets should form MIAs to join international associations like ICOMIA and participate in platforms like the Asia Boating Dialogue to help set up the proper regulatory framework for recreational boating.

Through constant dialogue and learning from one another, there may come a day when we have a fully integrated network of marinas and boating associations in Asia that provides the framework for yachting in this beautiful part of the globe to realise its potential.

http://www.asiaboating.org

LAWRENCE CHOW

Chow is the Chairman of the Hong Kong Boating Industry Association and the Asia Representative of the ICOMIA Executive Committee. Raised in a family of marine industry professionals, he has a strong passion for sailing and currently oversees general operations for the China Pacific Marine dealership while also practising in the field of architecture. Chow and YP Loke were the main organisers of the 2020 Asia Boating Dialogue, co-organised by the Singapore and Hong Kong Boating Industry Associations in conjunction with ICOMIA.

Note: The original article appeared as a Column in Issue 56 of Yacht Style

Alexander Karolik Shlaen: Market Boost for Luxury

Leaders / yachtstyle2020

Alexander Karolik Shlaen: Market Boost for Luxury

November 24, 2020
1:51 pm

In a Column for Yacht Style, Shlaen explains how a new corporate structure provides big opportunities for the luxury industry in Singapore and the region.

In January 2020, the Singapore government launched the Variable Capital Company (VCC), a new corporate structure for all types of collective investment schemes. This legislation is a potential game changer for the international fund management industry, affecting Singapore and neighbouring

countries.

The VCC offers much more operational flexibility for investment funds. Through this entity, fund managers can establish investment funds across both traditional and alternative strategies, as open-ended or closed-end fund strategies. Investors are also eligible to receive tax benefits if they establish a VCC entity.

Details can be found on many websites of various auditing and legal firms, but I’d like to state a few interesting points. The VCC must have at least three directors who are Singapore residents. Fund managers can easily re-domicile existing overseas investment funds by shifting their registration to

Singapore.

Income from a VCC can be exempt from tax if it qualifies for the government’s Enhanced Tier Fund Scheme. The VCC must fulfil two criteria: have a minimum fund size of S$50 million (about US$37 million) and a local business spend of at least S$200,000 (about US$147,000).

A new corporate structure for investment funds will put Singapore in the same league as other global fund hubs. But with the strong Singapore brand, it is likely to be a winning formula, as few jurisdictions will be able to match the city’s reputation.

Central bank data shows that assets under management by Singapore-based managers rose 15.7 per cent in 2019 to just under US$3 trillion, most of which is held in vehicles registered abroad such as Luxembourg, Bermuda, Mauritius and the Cayman Islands.

Luxembourg, with around US$4.7 trillion of assets under management, has long been a destination of choice for many big-name funds such as JPMorgan and BlackRock.

But with Singapore’s status as an international hub in Asia and an investment haven, along with its stable economy, strict regulations and corruption-free governance, it is not difficult to see how it will continue to attract money and investors from other jurisdictions.

In my opinion, many funds registered in various tax havens will consider moving their funds to Singapore over the next few years. The Singapore government estimated earlier this year that the VCC framework could create over 1,000 new jobs for the fund management industry in the first two years of its introduction.

I think this is a conservative estimate and I expect the number of newly created jobs to be higher. Think of all these fund managers, owners and lawyers who will be relocating to Singapore, following their money. There will be an additional demand for upscale properties to accommodate this influx.

These high-net-worth individuals will boost local consumption of Singapore’s F&B, entertainment, insurance, travel, luxury businesses and services. This will naturally bring in more tax revenues, even if several of those industries have slowed down this year due to Covid-19.

Foreigners that work in Singapore are entitled to VAT refunds on big ticket items, meaning an increase in future sales of high-end watches and jewellery.

It is unclear what the aftermath of this epidemic ravaging the world economy will hold and how it will affect Singapore. But following the previous economic crisis of 2008-2009, many expats chose to remain in Singapore and many more relocated to Singapore in the months and years following the crash.

As such, this new scheme is expected to increase rental demand for the properties in the

prime districts and invigorate the demand from local and international investors in the prized high-end property market. Local businesses will benefit from this new flow of money in various ways.

But the demand for luxury is not going to be limited to Singapore. It is well known that much of the resort real estate in the region is purchased or rented by Singapore-based expats, who enjoy spending holidays in their second or third homes.

Singapore is just a couple of hours by plane from popular holiday islands like Phuket, Samui, Bali and others, so the demand for yachting – charter or purchase – will follow. Several of Singapore’s neighbouring economies have been dependent on big-spending tourists and visitors.

The new VCC scheme provides Singaporean and regional luxury businesses with a much-needed boost towards recovery and further strengthens the city state’s position of importance in the finance world.

Alexander Karolik Shlaen
Alexander Karolik Shlaen, Executive MBA, is the founder of Singapore-based Panache Management, which represents Aston Martin, Tonino Lamborghini and Formitalia design lines in Asia, and provides luxury interiors and design for exclusive real estate, private jets and super yachts. The company is also involved in property and technology investment. Shlaen sits on the board of directors of a Singapore stock exchange traded company. He has appeared in various regional and global media, writing luxury columns for regional magazines since 2009. Shlaen was chairman of the judges’ panel for the Asia Property Awards and is frequently sought to attend established business forums and events.
www.panachemanage.co

Yacht Style Issue 54 Out Now: The Charter Issue 2020 - LUXUO
Yacht Style has released Issue 54 (July-August), its Charter Issue for 2020. Flying Fox, the world's largest charter yacht, stars on the front cover of the 208-page magazine, as the 136m megayacht prepares to return to Asia later this year.

Marine Italia leads Azimut in Asia

Leaders / yachtstyle2020

Marine Italia leads Azimut in Asia

November 19, 2020
3:08 pm

Marine Italia represents Azimut in several regions, but consistent sales of large models in Hong Kong make the company one of the Italian builder’s most important dealers globally.

Marine Italia’s Hong Kong staff at the company’s Marinetec shipyard in Hong Kong

Not even Covid can slow down Azimut’s popularity in Hong Kong. A Grande 35 Metri is scheduled to arrive in December, marking the first unit in Asia of Azimut’s flagship model, at least until the brand unveils its 38m Trideck. And earlier this year, Hong Kong welcomed its second Grande 32 Metri, currently the brand’s second-biggest model.

Like several local dealers, Azimut Yachts Hong Kong has had a bumper year, especially since travel restrictions forced the city’s residents to spend less time overseas and more time at home yachting, exploring the city’s islands, bays and beaches.

From April through September, the dealer sold 11 new Azimut yachts from a Magellano 43 to the 115ft Grande 35 Metri, while parent company Marine Italia secured a similar number of sales of pre-owned boats through its brokerage division.

“It has been a phenomenal six-month period for the Hong Kong team in an individual market,” says Paul Grange, Director and co-owner of Marine Italia Ltd with Thomas Woo. “Overall, across Asia, Azimut sold about 30 new boats in that six-month period.”

The first Azimut Grande 35 Metri in Asia is scheduled to arrive in Hong Kong in December

Headquartered in Shau Kei Wan on top of the Marinetec shipyard also co-owned by Woo and Grange, Marine Italia covers far more than Hong Kong.

The company is also the exclusive Azimut distributor for neighbouring Macau, southern China, Taiwan and, since 2018, Singapore. It manages Macau and Singapore with its own staff and works with dealer partners in Shenzhen and Taiwan, yet Hong Kong’s appetite for Azimut – especially large models – has been the main driver of business since the company was founded in 2015.

“Hong Kong is by far the largest, most mature market in Asia and one of the most important markets globally for Azimut. Sales have been good from day one and we have built a fantastic team,” says Grange, who admits Covid has had a negative impact on the company’s other markets.

Paul Grange and Thomas Woo: “Our differences make us such great partners.”

“In China, Taiwan and Singapore, new boat sales dropped this year, although we feel this is more due to logistics and delivery restrictions than client demand. I think certain travel and shipping restrictions caused uncertainty over the likely timetable to deliver the boats in these areas, which has a big impact on sales.

“Hong Kong, however, is the opposite, with no delivery restrictions and clients turning to yachting for their leisure time, unable to readily travel for holidays. We had several new clients buying their first yachts and existing clients upgrading, with quick delivery being a key driving factor for sales.”

Grande and Flybridge models typically make up over 90 per cent of the company’s business, so it’s not just the number of sales that impress but the size of yachts being ordered.

SALVAGNI TRANFORMS INTERIORS

The Hong Kong buyer of the Grande 35 Metri has owned multiple yachts including “a very large superyacht”, as described by Grange, who believes the 115ft Azimut is a market leader in its category.

Achille Salvagni revolutionised Grande interiors, as shown here on the 35 Metri master suite

“The Grande 35 Metri is a true superyacht, with features such as a wide-body bow, owner’s-suite balcony, side-access two-tender garage, large aft beach club, wave-piercing bow and tri-deck design,” says Grange, who started his career in yacht sales in the UK in 1992.

“It’s hard to imagine any 115ft yacht offering more in terms of design features, internal area and deck space.”

Grange says the company’s sales of Grande models – which range from 25-35m (87ft-115ft) – are now well into double figures, with the 27 Metri leading the way with four units delivered to Hong Kong.

A second Grande 32 Metri arrived earlier this year in Hong Kong

The Brit believes the interiors by renowned Italian furniture designer Achille Salvagni in the new Grande models also plays a big part in keeping the company as a market leader.

“The popularity of Grande models comes from a combination of their features, design, unique styling, use of space and the assured quality and performance from Azimut-Benetti, the world’s most

successful luxury motor yacht manufacturer,” he says, referencing the Group topping the Global Order Book for 24m-plus builds for the last 19 years.

“One of the standout features of the Grande range is the Achille Salvagni interior design. Salvagni specialises in the combination of materials, shapes and textures to create unique, luxury and welcoming environments onboard.

Salvagni’s signature rounded corners and pastel colours are shown here on the 32 Metri

“I think this has been a positive influence on yacht owners here in Asia as modern yacht interiors are much more like luxury homes now than they used to be 10 years ago. Salvagni’s creativity keeps Azimut at the forefront of the industry in this crucial element of yacht design.”

SPORTY AND SPECTACULAR

However, the recent arrival in Hong Kong of two new S8s shows that there’s also an increasing demand for Azimut’s sporty S Collection, in which exterior designer Alberto Mancini has recently stamped his mark, shaping the range’s new look just as Salvagni transformed Grande interiors.

After long-time Azimut partner Stefano Righini oversaw the S Collection’s new generation with the S7 in 2017 and S6 a year later, Mancini was responsible for the styling on both the larger S8 (81ft) and Grande S10 (94ft) that premiered at the 2019 Cannes Yachting Festival, each featuring interiors by Francesco Guida.

Hong Kong recently welcomed two deliveries of Azimut’s new S8

The Hong Kong owners of the S8s are both existing Azimut clients. Grange says Mancini’s exterior styling and the triple IPS propulsion were among many appealing features of a stunning model that’s longer than the Flybridge range’s new flagship, the 78, which also debuted at Cannes and features Mancini and Salvagni working together.

“Traditionally, sports models haven’t been as popular as flybridge models in Asia, largely due to them typically offering more exterior entertaining space than interior space, whereas more air-conditioned indoor space is often preferred locally due to the climate. Also, the additional performance offered is not always a key element for local clients,” he says.

“However, new designs such as the S8 blur the lines between the two styles. The S8 has a comfortable flybridge, a vast foredeck lounge, a saloon with opening sunroof, a cockpit twice the size of an equivalent flybridge model, plus a huge aft garage that accommodates a jet RIB and a full-size jet bike, and provides a beach-club swim platform.

The Alberto Mancini-designed S8 debuted at Cannes in 2019

“Inside, it still provides four luxury guest cabins plus a lovely saloon with separate formal dining area. Add to this the exceptional handling and the performance and efficiency of the triple IPS engines, and the S8 is serious competition to any flybridge yacht. Plus, the S8 just looks amazing. Ultimately, ‘kerb appeal’ is still a big factor in the decision-making process and Azimut never loses sight of that.”

PROVEN PARTNERSHIP

Grange met Woo after moving to Hong Kong to head Azimut sales for Simpson Marine in 2012, the pair becoming partners three years later. Both have a strong belief in the brand, with Grange pinpointing founder Paolo Vitelli as the driving force behind what makes the brand

unique and the Azimut-Benetti Group a world leader.

“He founded Azimut Yachts in 1969 and still leads and guides the company with the same dedication and vision today. None of Azimut’s competition are still owned and operated by their founders and, for me, it’s the continuous ownership, drive and the brand’s true Italian heritage that makes it unique.”

The S8’s features include a saloon with opening sunroof

From Hong Kong, Woo is a long-time yacht owner, having bought his first boat at the age of 25 while studying computer science in the US. Although he spent much of his career in technology, he made his move into yacht sales by setting up a brokerage in 2006, initially as a side business.

“When I first started selling yachts, Azimut were always in demand, the quality was excellent, and clients liked the Italian styling and great use of space,” Woo says. “After selling several Azimuts and having the opportunity of really enjoying them out on the water, I understood why they’re the leading brand in Hong Kong and I’ve been a fan ever since.”

Although both Directors sell yachts, Woo spends more time working directly with the clients and on the technical side of the business, while Grange is more office-based, managing the Azimut relationship and other areas of the business.

Also new in 2019, the 78 is the flagship of the Flybridge Collection

The pair work with all their clients personally and consequently don’t employ any sales staff in their six-strong office, which overlooks their shipyard.

“We’re both very hands on, but we prefer it that way,” Grange says. “Given the level of investment a luxury yacht represents, we think our clients prefer to deal with the business owners. It streamlines the whole process, keeps us very connected with the clients and their needs, builds very strong relationships and provides clients with extra confidence.”

Grange and Woo share the responsibility for guiding the company and agree that one of their best strategic decisions was establishing the Marinetec shipyard, where a team of 12 dedicated technicians handles all the company’s service, after-sales and warranty work.

Situated on the northeast side of Hong Kong Island, Marinetec is an approved Azimut Sales and Service Centre, featuring two slipways, working pontoons, and a 110ft shed with facilities for GRP, painting and carpentry.

The 78 combines the design talents of both Mancini and Salvagni

Grange says the private shipyard, which they took over in 2016, is a significant investment in service, so was delighted when the Hong Kong dealership was named Best After Sales Dealer worldwide (excluding USA) at the Azimut Dealer Meeting in 2019.

“We’re fortunate Azimut recognise our genuine commitment to after-sales. Having this level of in-house service support is fantastic for our clients and enables us to provide the highest levels of service. I think the feedback from our clients and our results speak for themselves,” he says.

“When new clients come to our office and see our own team busily working on the boats in the shipyard below, I think it makes a big statement about our focus on service and our approach to the business.”

REGIONAL OUTLOOK
While Hong Kong remains one of Azimut’s biggest markets for its Grande models and other large yachts, Grange and Woo are similarly keen to keep growing their other markets in Greater China as well as in Singapore, where they marked their appointment with a popular party at the 2019 Singapore Yacht Show.

Grange says Marine Italia is also focusing on Azimut growth in southern China, Taiwan and Singapore

The number of new Azimuts sold in Hong Kong typically doubles the company’s other markets combined, although the difference in turnover is far greater due to the number of Grande and other

large models among those orders. While Hong Kong continues to be the backbone of the business, Grange and Woo are committed to increasing Azimut’s presence in the other regions including Hainan, one of China’s yachting hot spots.

“Our commitment to growing our business in Singapore, Taiwan and China is very real. We have excellent dealer partners in Taiwan and Shenzhen who have good activity and have already sold new Azimuts for 2021 delivery. We are also planning significant investment in Hainan in line with the government’s tax-free market announcements for the island,” says Grange.

“As to the future, I expect some uncertainty as the world continues to learn to live with Covid, but we recently signed new orders for Taiwan, Shenzhen and Hong Kong. We also have increased enquiries from Singapore now, so it seems confidence is growing among our clients here in Asia and that 2021 could be another very busy year for us.”
www.azimutyachts.hk
www.marineitalia.asia

Azimut-Benetti's grand APAC sales | Yacht Style
Eight Azimut Grande superyachts have been delivered to Asia-Pacific over the past year, while four of the first 12 sales of the new Benetti Oasis 40M are from the region. Two Azimut Grande 25 Metri are among eight Grande yachts delivered to the Asia-Pacific in the past year.

Absolute Yachts’ Asia appeal

Leaders / yachtstyle2020

Absolute Yachts’ Asia appeal

October 6, 2020
6:55 pm

Hong Kong-based distributor for Absolute Yachts, Thomas Woo took a leap of faith seven years ago after his first encounter with the brand’s Fly series.

Thomas Woo, in 2017, takes delivery of his first Absolute Fly 58, his best-selling model. The banner reads: ‘Everything will go well, good sailing into a bright future’

Thomas Woo of Hong Kong dealership Absolute Marine will never forget his overwhelming first impressions when he visited the then-new Absolute 45 Fly at the 2013 Cannes Yachting Festival.

“I was really amazed,” Woo enthusiastically recalls. “I couldn’t believe how much room there was in a small boat – it was designed to be very functional. I fell in love with that flybridge 45.”

After examining the boat, Woo immediately went to meet Cesare Mastroianni, then Sales Manager for Absolute and now the company’s Chief Commercial Officer and Vice-President of Sales.

The first Absolute 45 Fly in Hong Kong

“I told him that I thought such a beautiful boat with a great use of space would be very suitable for Hong Kong,” Woo says. Woo ordered the 45 Fly as a stock boat to sell in Hong Kong, an inspired step that would ultimately lead to him becoming the brand’s exclusive dealer in the city and beyond.

When Woo took delivery in 2014, having been on a long waiting list for the popular new model, he quickly attracted interest from would-be owners. They started placing orders in the same year and he established Absolute Marine after he was appointed the sole distributor for Greater China.

A LIFE AQUATIC FROM A YOUNG AGE
No stranger to boating, Woo had taken his first foray into motor yacht ownership at the age of 25, while studying computer science at university in the US. He bought a 28ft Chris-Craft stern-drive cabin cruiser.

The Absolute Marine team on a 52 Fly at Hong Kong’s Marina Cove in 2016

“It had two 230hp gasoline engines which gave me lots of problems. I couldn’t afford to get help, but was quite technically minded, so I learned to solve these and do other repairs over a few years and that made me more interested in how boats work. It had inboard engines, there was air-con and a generator, all things found on bigger boats.”

He moved on to bigger boats such as a Marquis 42 cruiser, which was one of two he owned that were installed with the Volvo Penta IPS pod drive.

“The third-generation IPS in the Absolute 45 Fly that I first saw was a big step forward for the technology,” he says. “I’d experienced first and second generations of IPS, and while they did save space on a boat [compared to shaft-drive engines], they were unreliable,” he says.

Stock photo of an Absolute 58 Fly

“Volvo knew this and the third edition ironed out the problems. The improvements were great and I recognised how easy it was to manoeuvre with a joystick control for those not so experienced in piloting a boat. Also, its small size did give much more space on board. This, plus Absolute’s beautiful designs, gave me complete confidence that it would be a hit in Hong Kong.”

And it was. From receiving that first delivery six years ago, Woo has currently sold more than 40 Absolute yachts across the Fly and Navetta lines, an impressive sales log. Another 47 Fly, a Navetta 58 and the brand’s flagship Navetta 73 are the latest arrivals in Hong Kong, showing the ongoing demand.

Boating memories for Woo stretch back to childhood as he started going out on boats from about the age of 10.

Thomas Woo with Wayne Cheung, who receives his Absolute 52 Fly in Italy

“My parents didn’t have a yacht, but a family friend had a 70ft Cheoy Lee and we’d get picked up at the Star Ferry pier at weekends. We would head to beaches like South Bay, then maybe go to Lei Yue Mun for lunch, often with about six kids – it was great fun,” he recalls.

“There were no paddle boards or the kind of toys we see today back then. Sometimes, a speedboat followed us and we’d have a go at water-skiing. As we got better, we’d try to use one ski.”

A CHANGED CAREER COURSE
Woo’s navigation towards launching a dealership came naturally. While CEO of joint-venture company Depromax, the popularity of his award-winning Cyborg car security system began to dwindle as car alarms were increasingly fitted by manufacturers.

At the same time, while spending much of his leisure time boating, his sales of pre-owned yachts to friends were on the up. He went on to work in consecutive Director-level positions in two technology companies while his boat sales grew steadily.

Woo has ordered a new Navetta 64 for delivery to Hong Kong in 2021

“I eventually realised boat sales had good potential as a business for me and in 2006 I started Marine Italia, a small self-proprietorship brokerage,” he recalls. “It was just my wife and I working together in those early days.”

A year after launching Absolute Marine in 2014, Woo also became a distributor for Azimut Yachts, at which point, Marine Italia became a limited company. In 2016, broker Paul Grange joined Marine Italia as a partner.

AN ABSOLUTE SUCCESS STORY
Woo attributes his Absolute Yachts sales success not only to the appeal of performance, elegance and spaciousness of the boats but to the service Absolute Marine offers, both personally as well as technically at its Absolute-certified service facilities in Shau Kei Wan on Hong Kong Island.

An Absolute Navetta 64 with an enclosed flybridge

“Personal follow-up with owners and a promise that any problems will be dealt with quickly and easily is so important,” he says. “In yachting circles, as well as directly from clients, I hear that our responses to clients and ability to solve any difficulties are appreciated. It’s essential to provide this and that’s why we have a shipyard to provide technical help and maintenance.”

Clients are showing a preference for the latest Fly 58. Woo has sold six of these including one to a mainland China client who builds leisure trawlers in Dalian.

“I can sell one of these every three to four months,” he says. When ordering models, he aims to make them “as high specification as possible without making it too expensive”.

An Absolute Navetta 64 with an open flybridge

“The hardtop has become quite popular and I often order a crew cabin with head that’s easily accessible at the back of the boat for swimmers. From this crew room, there is door access to discreetly look at the engine room, without worrying others.”

Woo pre-orders Absolute’s Fly and Navetta models as the waiting lists for both are well over a year due to an increase in global demand. Absolute’s newest model is the Navetta 64 and Woo ordered one in July that will only arrive in October 2021.

“In February 2022, I’ll be expecting another exciting model,” says Woo excitedly, “but I can’t say what it is yet as Absolute has not officially announced its launch.”

Woo spends much of his spare time on the water

And what other plans are there for Absolute Marine? “To continue as we are,” says Woo, “with passion, and great products and service.”
www.absoluteyachts.com

MCY 96 Owner Jantana Selby: From Venice to Jomtien

Leaders / yachtstyle2020

MCY 96 Owner Jantana Selby: From Venice to Jomtien

October 5, 2020
8:00 am

Jantana Selby talks about cruising around the Gulf of Thailand on Jantana, the first MCY 96 in Asia and her second superyacht from Italy’s Monte Carlo Yachts.

Jantana Selby on board Jantana, the first MCY 96 in Asia (© Wasan Puengprasert)

What are your earliest memories of boating?
My first experience, when I was very young (laughs), is in the 1980s when my father was Director General in the Ministry of Education, promoting vocational activities for children in Ayutthaya. We built our own motor boat, less than 20ft, with the assistance of local skills and shipyard facilities, and unfortunately it sank rather quickly!

My father loved to entertain so we experienced river cruising around Ayutthaya on the Chao Praya river and on the other canals around metro Bangkok, the ‘Venice of the East’. We also did a lot of cruising from Jomtien, just south of Pattaya, an area my family is very attached to.

Jantana Selby enjoys cruising around the Gulf of Thailand (© Wasan Puengprasert)

I really discovered yachting at a young age during many day trips, including on an Azimut belonging to the Pattanodom family. From that time as well, I developed a passion for Italian design, whether it’s fashion or furniture. It’s my style, my lifestyle.

Apart from the MCY 96, what boats have you and your family owned in recent years?
We first owned a second-hand Monte Fino 62 about 15 years ago, followed by a Sunseeker for close to nine year. Our first boat by Monte Carlo Yachts was the MCY 86. A few years ago, we did a trip to Koh Tao and were caught in a typhoon that caused a terrible storm and sea conditions in the Gulf of Thailand.

Jantana is easily distinguished by her blue hull

I was sitting next to the Captain while he was steering and I was mesmerised to watch the yacht sliding on the waves like a sailing boat. While other passengers were seasick, I enjoyed it and was truly impressed by the resistance, safety and capability of the yacht. This trip convinced us about the quality of Monte Carlo Yachts, so when we were proposed an upgrade with the MCY 96, we jumped on it.

Why else did you choose an MCY 96? What do you think makes Monte Carlo Yachts a good brand for Asia-based buyers?
We fell in love with its sporty look and design. It’s an optimal size, as well. We feel like we’re living in a 130ft superyacht and the fact that we don’t need too many crew is an added advantage for us. My husband and I usually have three or four onboard.

The spacious flybridge on Jantana

We love the optimal volume and refreshing breezy air that goes through the flybridge. We are also very impressed with the attention to details, finishing and materials selection. We find that Monte Carlo Yachts has been historically very reactive in case of any maintenance issue or replacements needed.

Did you visit the shipyard in Monfalcone and the Nuvolari Lenard design office in Venice?
Yes, I did visit both, including during my trip with family and friends for the official launch in 2017 of the MCY 96 (hull one) in Venice, which was a magical event.

Jantana Selby (fourth left) at the MCY 96 reveal in Venice in 2017

I was fortunate enough to liaise very closely with the Nuvolari Lenard design office, who also flew specialists to Thailand a few times for the materials selection and finishing. Therefore, I can really say that I took part in the design and customisation of the yacht. Thanks to this special relationship built, I know that whenever I have a need for a major interior change or further customisation, the Nuvolari Lenard design office will be there for me.

What customisations and options did you choose for your MCY 96?
We decided with my husband to change the original design from five bedrooms to four, by combining the two lower-deck guest bedrooms into our room and transforming the original owner’s suite into a VIP suite. We also widened the kitchen around a welcoming bar that I designed personally.

The full-beam owner’s cabin on the lower deck

When you received the MCY 96 in Thailand, what special events did you attend with the yacht?
We received our yacht in August 2018. My husband named the yacht after me, Jantana, and we had a Buddhist monk blessing ceremony. Jantana was first showcased at the Ocean Marina Pattaya Boat Show later that year and was the star of the show, during which we organised a Venetian masquerade event onboard.

How often do you go boating on your MCY 96 and where do you travel?
We use Jomtien, Pattaya, as a starting point, as it’s easily accessible by highway, with many trendy restaurants and stylish hotels around. Typically, we would go around the islands near Pattaya for a day trip. We have many friends, family members and at least two dogs, so usually have around 15 people on each trip.

Jantana Selby with family and friends (© Wasan Puengprasert)

The Gulf of Thailand has many beautiful islands and anchorage spots to explore like Koh Chang, Koh Mak and Koh Kut (Kood) to the east, near the border with Cambodia. We especially like Koh Samet (in Rayong), where there are many cool hotels and restaurants, and perfect beaches for shelters overnights. We love to go there around New Year’s. There are many trendy bars and cool clubs, and off course big fireworks!

Earlier this year, we did an amazing trip – with eight of us onboard – from Pattaya to a private island that belongs to a friend off Sihanoukville in Cambodia. It was a memorable, fun trip in a pristine environment that we plan to repeat again soon. What we are mostly missing is more stopovers like lively lifestyle marinas in Koh Chang and Koh Samui, in the west of the Gulf.

The saloon on Jantana was customised

Our aim is to use the yacht at least once a month, which is not too difficult during this Covid-19 period when people are looking for a perfect hideaway and a safe experience at sea.

Occasionally, I take part in relief operations, such as in Monkey Island off Pattaya, and conservation projects. Going forward, I would like to get more involved in maritime projects including school and training for young Thais to become skilled captains, which is lacking today with new technologies and computerised navigation systems.

Jantana Selby is making the most of Jantana during Covid-19 (© Wasan Puengprasert)

What advice would you give to any potential owners considering buying an MCY yacht?
I am a very happy and proud owner, so I would be more than happy to share my personal experience and useful tips to anyone contemplating buying an MCY yacht.
www.montecarloyachts.it

Rolex supports Perpetual Excellence

Leaders / yachtstyle2020

Rolex supports Perpetual Excellence

October 3, 2020
2:45 pm

Linking the past to the present to the future, Rolex and its Testimonees are dedicated to nurturing the next generation of sailors and passing on the sport’s timeless values.

SailGP echoes Rolex’s quest for Perpetual Excellence, while the SailGP Inspire programme mirrors Rolex’s commitment to the transfer of knowledge between generations

The continuing viability of any sport depends on its ability to nurture future generations. Integral to the company’s core philosophy laid down by founder Hans Wilsdorf, Rolex has always recognised this critical role and supported its partners in the transmission of knowledge, no more so than in sailing.

Through their inspiration and instruction, yachting legends such as Rolex Testimonee Sir Ben Ainslie ensure sailors following in their footsteps are well-equipped to maintain the highest standards of excellence.

SPORT FOR LIFE
Ainslie, who began sailing at the age of eight, knows from first-hand experience the need for young talent to be encouraged and supported by senior athletes in their chosen field. The Briton is one of the most accomplished yachtsmen in the sport’s history and the most successful Olympic sailor of all time with medals from five successive Olympic Games – four of them gold.

Rolex Testimonee Sir Ben Ainslie is the most successful Olympic Sailor of all time with medals from five Olympic Games® four of them gold® and a four-time Rolex World Sailor of the Year

Ainslie currently leads Ineos Team UK, which is challenging for two of the greatest prizes in professional yachting, the America’s Cup and SailGP.

Yet he was once a novice, a young sailor seeking knowledge and guidance as he took his first tentative steps in the sport. Help was close at hand in the form of his father, Roddy, who skippered Second Life in the first crewed round-the-world race in 1973.

Another of his early heroes was the late Paul Elvstrøm, a Rolex Testimonee whose Olympic record Ainslie surpassed at the 2012 Olympic Games.

“Paul was someone who had really transformed the sport of sailing in his era,” Ainslie explains. “His challenge was very different to the one I had faced and after London I wrote to him to say that he had been a huge inspiration through his achievements.”

Sir Ben Ainslie currently leads Ineos Team UK, which is challenging for the America’s Cup and SailGP

Aside from his father and Elvstrøm, Ainslie looks to another Rolex Testimonee as someone who had recognised the need to mentor young and upcoming sailors such as himself.

“Paul Cayard helped me greatly when I started to transition my career into the America’s Cup,” remarked Ainslie. “I know that Paul, in turn, was helped himself by the likes of Durward Knowles (a sailing gold medallist in 1964) and Raul Gardini (head of the Il Moro di Venezia Cup syndicate).”

Ainslie continues: “As part of my current campaigns, we have a team of young sailors that we are helping bring up into the senior team. This is part of the tradition of our sport. Knowledge gets passed on. This is a sport for life. One is not in it for a short period, and there are always opportunities to help the younger generations come through.”

THE VALUE OF SPORT
Cayard established himself as one of the world’s finest yachtsmen, excelling in a range of disciplines and leading events. A seven-time world champion and a seven-time America’s Cup campaigner, in 1998 he became the first American sailor to win the Whitbread Round the World Race.

Rolex Testimonee Paul Cayard starred in the America’s Cup, the Olympics and round-the-world racing, and is now nurturing the next generation

A two-time Olympian and competitor in several Rolex-partnered events including the Maxi Yacht Rolex Cup, the Rolex Fastnet Race and the Rolex Middle Sea Race, he acknowledges the support he received on his journey to the elite ranks.

“I am a great believer in our sport and what it offers. I have been privileged in my career. Sailing offers so much in life, so it is only natural to give back,” says Cayard, who is now actively engaging with youth to encourage participation in the sport.

“I raced with my teenage children to Hawaii from California to help expand their horizons. I’m also involved in helping build a pipeline of talent in the United States to improve our results in international competition. It takes long-term vision and an investment in thinking, time and energy. It’s so important because what sport teaches is so valuable in life.”

OVER 60 YEARS OF PARTNERSHIP
Both Ainslie and Cayard are members of the Rolex family of Testimonees that includes several other yachting legends including roundthe- world yachtsmen Sir Francis Chichester, Sir Robin Knox Johnston and Bernard Moitessier whose achievements have inspired future generations.

Rolex Works Hand in Hand with Sailing Legends
It is a relationship born of a natural affinity with a sport that exhibits time-honoured values and a dynamic spirit. Six decades into its partnership with yachting, Rolex is the committed supporter of the some of the world's most prestigious yacht clubs, races and regattas.

These towering figures in the sport are an essential part of Rolex’s partnership with yachting that dates back more than six decades, to 1958 and a partnership with the New York Yacht Club. It heralded the launch of Rolex’s deep involvement in yachting that now spans the globe and encompasses a broad range of disciplines and aspects of the sport.

With a rich history underpinning the relationship, upholding traditions – particularly those that help safeguard the future – is a key element.

Rolex’s association with sailing began with the founding of its partnership with the New York Yacht Club in 1958

SHARED COMMITMENT TO INNOVATION
SailGP, the global championship that is redefining sailing, is one of the latest additions to the Rolex yachting portfolio. As the Official Timepiece, Rolex is proud to be associated with a series that demands precision, dedication and performance from the athletes and their boats.

Combining advanced technology with the most talented individuals, SailGP echoes Rolex’s quest for Perpetual Excellence, while the developing art of foiling – lifting a boat’s hull out of the water to reduce drag and increase speed – further illustrates the sport’s alignment with the brand in its shared desire to constantly evolve and innovate.

Away from the high-profile, high-energy racing, there is another reason why the Rolex and SailGP partnership is such a natural fit. The SailGP Inspire programme endeavours to create pathways to success for young sailors. The aim is to ensure the sustainability of the sport by delivering life changing opportunities to aspiring sailors, regardless of their background.

SailGP is one of the latest additions to the Rolex yachting portfolio.

These opportunities range from hands-on lessons, mentorship and team building, to connecting the most talented with the pinnacle of the sport, where they meet the sailing world’s best athletes and race on the same course as their heroes.

TRANSFERRING EXPERTISE DOWN THE GENERATIONS
Beyond SailGP and its family of Testimonees, Rolex supports prestigious yachting competitions from ocean classics to leading inshore regattas where expertise is transferred within the sailing community – between peer groups and different generations, and from professionals to Corinthians.

This transmission of knowledge has particularly helped broaden the appeal of offshore racing, with the Rolex Fastnet Race and the Rolex Middle Sea Race enjoying record fleets in recent years. Participation at these demanding races depends on yachts meeting stringent qualification requirements, which include the experience of their crews.

Veteran participants regularly ensure young, inexperienced sailors are included in their team. Passing on their expertise, passion and the camaraderie inherent in the sport are essential for improving performance and promoting a sense of solidarity with the wider fleet.

The Rolex Sydney Hobart Yacht Race is the southern hemisphere’s leading offshore race

Matt Allen, winner of the 75th Rolex Sydney Hobart Yacht Race in 2019, is proof of how this unwritten process works so well. He completed his first race in 1980, aged 17, and was then a winner in 1983, a crew member on Challenge II under the tutelage of Lou Abrahams, a doyen of Australian sailing.

Abrahams took part in 44 Rolex Sydney Hobarts, winning twice, and also sailed in seven Rolex Fastnets before retiring from offshore sailing at the age of 80 in 2007. Abrahams was highly regarded for his enthusiasm in encouraging youngsters to participate in sailing, from dinghies to ocean racing.

The 2019 race marked Allen’s 30th trip south from Sydney. At the final prizegiving in Hobart, he reflected on his win, but more significantly, on his sense of a sport that recognises the importance of bridging age groups.

“Winning the race really brought a lot of history together,” Allen said. “Over the years, I’ve seen amazing boats participate, but it’s the people that make this race: the sailors, the friendships, the competition. They are what makes this race and ocean racing what it is.”

The 40th Rolex Middle Sea Race was won by Elusive 2, co-skippered by local Maltese sailors Maya, Aaron and Christoph Podesta, who dedicated the victory to their late father

Last year’s 40th the Rolex Middle Sea Race was won by Elusive 2, co-skippered by local Maltese sailors Maya, Aaron and Christoph Podesta. Their victory was built on an intrinsic knowledge and respect for sailing and the race instilled in them by their late father, Arthur Podesta, a veteran of 35 Middle Sea Races.

“We used to think it was all about the race,” said Christoph, “but now we know that our father’s purpose was to bring the family together to share adventures and experience. It continues to be special.”

While always respectful of heritage, Rolex is forever forward-looking. During the Swiss watchmaker’s earliest days, its founder recognised the growing appreciation of an active lifestyle when envisaging a
pioneering watch that would be as robust, precise and reliable as a marine chronometer.

The belief in building on the past to shape the future remains as strong today as then.
www.rolex.com

The international side of brokerage

Leaders / yachtstyle2020

The international side of brokerage

October 2, 2020
12:50 pm

Buying and selling pre-owned yachts is often considered a local business, but in a Column for Yacht Style, Adam Blackmore of Fraser Hong Kong explains that online information, photos, videos and 3D tours, combined with experienced yacht-shipping operators, are making brokerage increasingly international.

During the sale of Odyssey, a 44m Royal Denship, I spent a lot of time with the yacht’s new crew, who had come over from Italy, and the previous crew who cared for her during her time in Hong Kong.

When the shipping date came, we were all present to load her onto the vessel and I remember thinking, ‘What a dichotomy, the old and the new’, which also embodies Hong Kong.

In a city where modern skyscrapers mix with old temples, here I was with the old crew, the new crew, a glistening modern yacht and a very old fishing boat that belonged to the diver who was assisting us with the load. And behind us, the sun was setting on the South China Sea. It was a memorable, unique moment and led me to consider how brokerage is becoming increasingly international.

Fraser is very experienced in shipping yachts of all sizes around the world, but our Hong Kong office is mainly involved with transport between Europe and Hong Kong or other Asian yachting hubs.

The likes of Odyssey are moved around the world using heavy-lift ships that carry a variety of cargo and are equipped with lifting gear and cranes. Once loaded on board, the yacht is then strapped to the deck of the boat in custom-made cradles. Loading a boat onto a ship is a very delicate and precise process, and we only consider moving yachts that are fully insured.

It’s also important to work with a trusted partner. I like to work with Charles Massey and the team at Sevenstar Yacht Transport because they have loadmasters who are trained to load yachts properly.

It requires a specific set of skills and the loadmaster must fully understand the weight distribution of a yacht as well as his gut feeling based on many years of experience.

Potential buyers are sometimes surprised to hear that it isn’t prohibitively expensive to ship a yacht, even between continents, with many assuming it will take too long and cost too much.

Every buyer has unique needs and wants when choosing a yacht, so it becomes particularly important to find the right one, even if it’s located overseas. You don’t buy a yacht because you need it but because you want it, so when a buyer finds ‘their’ yacht, they’re often happy to spend the extra money to ship it.

It’s a win-win situation, because sellers in Hong Kong, for example, are pleased to hear that the pool of potential buyers for their yacht is much larger than just this city or even Asia.

Despite the challenges this year, we’ve witnessed the yachting industry continue to grow throughout Asia. Given travel restrictions, the pandemic has created strong demand for yachts in Hong Kong, which can mean searching other markets to find one that meets a buyer’s criteria.

As there are now more first-time buyers, there’s an increase in brokerage sales between Hong Kong and other Asian markets and beyond. Considering Fraser’s large network of potential buyers around the world, I believe in taking the time to be creative when marketing a yacht.

As an example, the former owner of Odyssey allowed us to use the boat for two days to do photography, filming and take 3-D scans, so we were able to give any potential buyer around the world a really strong feeling for what it would be like to be on board.

And because buying a yacht is an emotional experience, I use film and photographs to highlight the unique features of each boat. This helps potential buyers feel immersed in the experience of what it would be like to walk the decks, enter the saloon, sit up on the sundeck and enjoy the views, whether it’s the sea, towering skyscrapers or a small fishing boat.

ADAM BLACKMORE

Blackmore is Commercial Director at Asiamarine, having joined in 2017, and a Sales Broker for Fraser, which is represented by Asiamarine in selected markets. Working in the yachting industry since 2007 and moving from England to Asia in 2013, he has helped hundreds of clients buy and sell pre-owned yachts, also guiding many through the new-yacht construction process.

adam.blackmore@fraseryachts.com

www.asiamarine.com / www.fraseryachts.com

Millennial Jet Set: By Arnaud Tellier, BNP Paribas Wealth Management

Leaders / yachtstyle2020

Millennial Jet Set: By Arnaud Tellier, BNP Paribas Wealth Management

September 17, 2020
2:43 pm

Superyachts and business jets are passion investments for the super-rich, and both appeal to Asia’s new generation of high-flyers.

Amadea is a 106m superyacht built by Lurssen and exclusively listed for sale with Imperial; © Imperial (Photo: Guillaume Plisson)

At BNP Paribas Wealth Management*, we see a younger generation of UHNW individuals transforming the broader luxury landscape in Asia. This change is marked by a move from accumulating tangible assets to pursuing rare, tailored experiences.

EVOLVING SUPERYACHT INDUSTRY
Today, owning a superyacht is not about making a statement but maximising the way an owner utilises their resources and time, both of which are scarce. And of course, the memories created on board will last long after returning to shore.

A superyacht is a floating piece of real estate. It enables people to work, have fun and gather with family, friends and business partners in a private environment, all while enjoying a five-star, world-class service comparable to the best resorts and Michelin-starred restaurants.

The Asian superyacht market is dominated by models from 30 to 35m. Superyachts of 40m and above are rare in Asia. Having said that, we see more and more Asia Pacific tycoons buying yachts of 50m and above, and docking them in the Mediterranean, the Seychelles and the Caribbean.

Hong Kong is the largest hub for yachts in Asia Pacific, supported by mooring facilities including the Aberdeen Marina Club, Hong Kong Gold Coast and the new Lantau Yacht Club. It has been observed that more Europe-based yachts are visiting Thailand (Phuket in particular) and Indonesia.

Australia and New Zealand could hold increasing appeal around the America’s Cup early next year, while the Summer Olympics in Japan could draw international yachts as well.

There are still obstacles for the development of yachting in Asia such as the stringent regulations for cruising from one country to another, complexities around chartering, and the lack of marinas and infrastructure for mooring and refit.

At an industry level, more lobbying is necessary to convince governmental bodies to ease restrictions and further invest in infrastructure. The impact of the Covid-19 pandemic may bring some positive changes.

In a recent move, the Thai government is exploring the potential of high-end foreign superyacht tourism. Such luxurious tourism may generate substantial revenues from the use of local suppliers to high-spending UHNWIs patronising local stores and resorts.

GROWTH IN ASIA’S BUSINESS JET MARKET
Southeast Asia is still seeing growth in total numbers of business jets, while the market has stabilised somewhat in Greater China, where it is being driven mostly by replacements of existing jets.

Dassault is introducing the ultra-widebody business jet with its new 6X

According to a 2019 fleet report published by Asian Sky Group, the total number of regional aircraft (including those in India) was 1,213 at the end of 2019, of which 518 were based in Greater China. Superyacht owners in Asia are very discreet and rarely publicise their ownership. Confidentiality is part of the experience and the value proposition.

This is also true for jets. Asian clients are notably keen on buying long-range and ultra-long-range models. In many other markets, customers would initially start buying a small jet or even a turboprop to begin with and then gradually step up to bigger models. In Asia, we have seen many first-time business-jet owners buying at the top end of the market.

New models such as the Bombardier Global 7500 and Gulfstream G700 are changing the game. With larger cabins allowing for four or even five separate ‘living spaces’, they also have a longer range than previous models. Dassault is also introducing the ‘ultra-widebody’ business jet with its new 6X. Demand for these aircraft has increased in the last five years, even as the trade war changes the market.

Seletar Airport in Singapore and Hong Kong International Airport are popular for business jets, and the new airport in Beijing is also expected to become a hub. Jet activity is increasing in Southeast Asian countries such as Thailand, Vietnam and Indonesia.

Interestingly, we have recently seen consolidation of, and investment in, business jet maintenance and repair operations (MROs) in the region. Jet Aviation expanded its presence by acquiring Hawker Pacific’s MRO two years ago, Dassault Aviation took over ExecuJet’s APAC MRO early last year, and Bombardier has been investing massively in a new service centre in Seletar.

MILLENNIALS ARE THE FUTURE
BNP Paribas Wealth Management finances the upper end of the business jet and superyacht markets, catering for superyachts of 40m and above, and medium to ultra-long-range business jets.

Arnaud Tellier: “We are actively playing our part by offering carbon-offset programmes, impact investment solutions, and promoting and supporting NGOs active in these fields through a ‘tick and donate’ initiative.”

Our clients generally have a net worth of US$500 million or more. We are very selective in the clients and the assets we finance, and we operate in a niche market, completing a handful of transactions each year.

We have worked with several next generation UHNWI, who like their parents, are investing in business jets and flying privately.

The situation for yachts is a little different. Most of these clients received a Western education and have since introduced the yachting lifestyle to their parents and enjoy family time on-board.

Millennials are truly concerned about global warming, CO2 emissions and ocean preservation. From an industry perspective, the business-jet manufacturers and superyacht builders are working hard on their value proposition to attract millennials. These manufacturers and shipyards want to be part of the solution, not the problem, and they are constantly innovating to produce more environmentally friendly products.

As a leading global private bank, BNP Paribas Wealth Management is committed to green finance. We are actively playing our part by offering carbon-offset programmes, impact investment solutions, and promoting and supporting NGOs active in these fields through a ‘tick and donate’ initiative.”

We are actively playing our part by offering carbon-offset programmes, impact investment solutions, and promoting and supporting NGOs active in these fields through a ‘tick and donate’ initiative.

When it comes to financing environmentally friendly yachts, fuel efficient diesel-electric yachts, or explorer vessels having a scientific and educational purpose, BNP Paribas Wealth Management is willing to go the extra mile.

BNP Paribas Wealth Management has accumulated vast experience in yachting over the last 15 years, and we are willing to share this knowledge of the industry with our clients and introduce them to the leading shipyards, brokers and yacht-management companies in Asia and Europe.

BNP Paribas Wealth Management understands that a superyacht or business jet is more than just an asset – it is a personal expression of taste, style and success. By working closely with our valued clients, we have gained the trust and respect of UHNWIs across the world.

Reach out to the Jet and Yacht Financing team (jyf@bnpparibas.com) and find out how BNP Paribas Wealth Management can help you.

* BNP Paribas Wealth Management is the business line name for the wealth management business conducted by BNP Paribas.

ARNAUD TELLIER

Arnaud Tellier is CEO, Asia Pacific at BNP Paribas Wealth Management and leads a regional team of over 1,100 private banking professionals across key markets in Asia. Tellier defines the strategic direction of the business while overseeing its day-to-day management. He brings a multi-disciplinary approach to serving BNP Paribas’ private banking clients, with a background in capital markets and corporate and investment banking. His efforts in transforming the bank’s offering for Asian clients saw him awarded ‘Private Banker of the Year’ at The Digital Banker’s 2019 and 2020 Global Private Banking Innovation Awards.
www.wealthmanagement.bnpparibas/asi

Asia Yachting expands with new brands, markets and offices

Leaders / yachtstyle2020

Asia Yachting expands with new brands, markets and offices

September 9, 2020
8:04 pm

Having opened a Thailand office to widen its regional reach, Asia Yachting is preparing to showcase Prestige models and the MCY 70 Skylounge’s Asia premiere in Hong Kong.

Founded in 2007, Asia Yachting celebrates the opening of its expanded Hong Kong headquarters in Aberdeen last year

Asia Yachting started this year with a splash, launching its new representation of Monte Carlo Yachts, Prestige and Beneteau Grand Trawler in five key Southeast Asian markets with a big display at the Thailand Yacht Show.

The highlight was the regional debut of the Prestige 420 just four months after the world premiere at the Cannes Yachting Festival of what has become the brand’s fastest-selling model. Over the summer, the hull shown in Phuket was transferred to Hong Kong, Asia Yachting’s home city and setting of the dealership’s next Asia debut: the MCY 70 Skylounge.

Olivier Besson (third left) and Franklin Heng (third right) with Asia Yachting colleagues on a Prestige 590

Eight months after the global debut of Monte Carlo Yachts’ first-ever Skylounge model in Miami in February, Asia Yachting will stage the model’s regional premiere in October, ahead of the Hong Kong Yacht Show in November.

Olivier Besson, CEO and founder of Asia Yachting, says: “I believe the Skylounge model is very, very appealing in the Asia market, where people are usually keen to have protection from the sun so will appreciate a temperature-controlled, indoor environment on the flybridge to offset the humidity.

“The foredeck on MCY models is such a fantastic space to enjoy the outdoors, so Monte Carlo Yachts has taken advantage of the flybridge to create this extra indoor living space, where you can still enjoy a 360-degree view, and if the weather’s nice, you can open the roof or windows. The other major advantage is that there’s also only one helm station, which creates more space on the main deck.”

The foredeck of the MCY 70 Skylounge

Now 13 years old, Asia Yachting has recently been enjoying a significant growth spurt typical of a young teen. Even last summer, the Hong Kong-founded company headed by Besson and Chairman Franklin Heng already had to expand its head office in Aberdeen to accommodate its increasing head count.

At the start of this year, its representation of Monte Carlo Yachts and Prestige was expanded from Hong Kong and Macau to also include Indonesia, Malaysia, Thailand, Singapore and the Philippines.

The company also acquired a new line, Beneteau’s Grand Trawler, for the same seven markets to expand a portfolio that also includes Nautique in Hong Kong and the Philippines, and Fountaine Pajot in the Philippines.

Asia Yachting’s new Thailand office in Phuket Boat Lagoon

Asia Yachting is now serving its Southeast Asian territories from its stylishly outfitted Thailand office in Phuket Boat Lagoon, which complements its Hong Kong headquarters and Philippine hub in Manila, and increases the company’s total staff to just under 50. The company also works with local partners in selected markets such as in Malaysia with Pen Marine, headed by industry veteran Oh Kean Shen.

TAILORED DESIGNS, BOUTIQUE SERVICE
For over a decade, Asia Yachting has built its reputation as one of Monte Carlo Yachts’ leading global dealers, representing the Groupe Beneteau brand since 2013. Sales highlights include the first hulls of the MCY 65, 70, 80, 86 and 105 models, helping make Asia a key market for the Italian luxury yacht builder, whose flybridge motor yachts are exclusively designed by Carlo Nuvolari and Dan Lenard of Venice-based Nuvolari Lenard.

“The positioning of Monte Carlo yachts is very high-end and boutique. It’s probably the most customer-oriented brand and the one that offers the highest level of customisation,” Besson says of the yard whose yachts range from the new MCY 66 (successor of the 65) to the flagship 105.

Asia Yachting is organising the Asia debut of the MCY 70 Skylounge

“This customer-oriented, service-focused approach matches Asia Yachting’s philosophy, spirit and DNA, as we’re also very close to our clients. We don’t consider the client as just a buyer but someone that deserves a full, tailored service.”

Besson says most Asia-based owners of MCY yachts have taken the opportunity of visiting the builder’s shipyard in Monfalcone and the Nuvolari Lenard design studio in Venice, about a 1½-hour drive away, where they can choose from the range of luxury materials and furnishings the design studio offers to buyers of their custom-built superyachts and megayachts.

Many owners from Asia also attend the yard’s summer ‘Reveal’ events in Italy, in which a new yacht is typically unveiled at a lavish private event ahead of the model’s public premiere.

The flybridge interior on the MCY 70 Skylounge, the first model in a new Skylounge series

“We have many recurring MCY owners. Monte Carlo Yachts really creates a family feel among owners, one reason they’re so keen to upgrade within the brand. It’s worth noting that most first-time MCY owners are not first-time yacht owners, because it takes the experience of having had other boats before to really appreciate what is so special and different about this brand.”

ALL-IN MANAGEMENT
Asia Yachting’s recent achievements also include being named Prestige’s Dealer of the Year for 2020. One of Groupe Beneteau’s France-based builders, Prestige offers motor yachts from the popular 420 to the new X70 and Besson believes they’re the ideal introduction to the world of luxury yachts.

“Prestige builds fantastic boats,” says Besson, who says multiple models including the 420, 460, 520, 590 and 630 will be on display at November’s Hong Kong Yacht Show. “I think Prestige builds the best entry-level luxury yachts. The models are very reasonably priced and offer huge volume and all the features of the leading yachts.”

The Prestige 590 is among yachts Asia Yachting has earmarked for the Hong Kong Yacht Show

If MCY yachts are fitting for the top echelon of Asia Yachting’s pyramid of clients, Prestige is on the next rung, more affordable but often still requiring crew or at least full-time management. As such, Asia Yachting offers an all-in package to ease the burdens and complications for owners.

“We’re trying to make Prestige yachts as accessible as possible to our clients by offering a full-package service where we cover all maintenance and management for the year, including providing the berth and mooring. We have our own people look after the boat year-round, while clients can drive the boat by themselves or hire a captain when they take the boat out,” Besson says.

Asia Yachting promoted its Southeast Asia representation of Monte Carlo Yachts, Prestige and Beneteau Grand Trawler at this year’s Thailand Yacht Show

“We don’t aim to generate profit from yacht management. It’s purely to support clients and bring them the best experience of owning a yacht. We’re basically trying to make the experience of owning a boat enjoyable, affordable and hassle-free.”

WIDENING PORTFOLIO
In addition to full service, Asia Yachting now offers a range of brands that cover various sizes and styles of motor yachts up to superyachts, from Monte Carlo Yachts (66-105) and Prestige (420-X70) to Beneteau Grand Trawler (62ft) and Nautique (20-25ft).

The Grand Trawler dealership is a rare partnership as it’s one of Beneteau’s six motorboat ranges. Besson believes the line is complementary to Asia Yachting’s other brands, not just because of its size but the fact it offers an economical introduction to long-range cruising.

The Grand Trawler 62 will be the first model in a new Beneteau line

“Beneteau is expanding the size of its motorboats with the new Grand Trawler range, which we believe is a very complementary and very appealing range for the clients we are targeting. The focus is on volume and range, so I think this will also be a very interesting product for the Asian market.”

At the same time, American builder Nautique offers high-speed fun on its top-of-the-line tow boats designed for waterskiing, wakeboarding and wakesurfing, the latter a favourite of Besson’s as the boarder surfs on the wake of the boat, only using a tow rope to get up.

Last year, Asia Yachting sponsored Super Air Nautique G23 and G25 models for its fifth annual Nautique Wakefest in Hong Kong, which featured a record 170 athletes at Tai Po Waterfront Park including riders from China, Japan, Singapore and Taipei.

The Grand Trawler line features larger models than the existing Swift Trawler range

“Nautique is a very important product for us. We have many owners who also own a Nautique as a ski boat or for towing other water toys,” Besson says. “Nautique is so appealing because it builds the best boats for wakesurfing, which is a great sport because you’re literally just surfing on the boat’s wake, so when you fall, you can’t hurt yourself. It’s safe and fun.”

HEALTHY HK, BROKERAGE MARKETS
New sales dominate Asia Yachting’s business, but brokerage also plays both an important business and strategic role, with the company offering trade-in solutions.

“Brokerage is a very strategic business for us because a lot of owners are keen to upgrade if we can help them to sell their existing boat. Brokerage is also a regional business and increasingly global, as sometimes a boat that has been in Hong Kong for many years may not be so exciting for that market but is for somewhere else in Asia or the world,” Besson says.

Asia Yachting staged a special event in Hong Kong last year for Monte Carlo Yachts, the high-end Italian builder that the dealer has represented since 2013

“Earlier this year, a lot of people initially listed their yacht [for sale] and then withdrew it because they realised they’d actually use it more in the current Covid-19 situation.”

For Besson, the coronavirus has reinforced the value of boating in Hong Kong, where restrictions have never extended to the great outdoors, leading to a huge uptake in boating activity and owners using their yachts not only more often but more frequently for overnight stays.

“People realise they will travel less and that being in Hong Kong and that boating is the best way to escape the city and have some fun,” says Besson, who admits boating activity in Thailand has suffered as the industry is more dependent on tourists and yacht owners based elsewhere.

The Asia Yachting team at last year’s Monte Carlo Yachts event

“Overall, during Covid-19, the effect has actually been positive on the Hong Kong market and not as bad as we imagined it could be elsewhere.”

Hong Kong will remain the heart of Asia Yachting’s business, but the company is working hard to live up to its new responsibility as a regional dealership. Although the coronavirus may have scuppered the initial momentum in Southeast Asia at the start of the year, there’s more to come.

“We have an office open in Thailand now, a partner in Malaysia and we’re looking at whether to establish our own office in Indonesia or team up with potential partners,” he says. “We’re also looking at other places like Singapore, although we’ll look more closely at this when the situation stabilises.”
www.asiayachting.net

Asia's leading yachting lifestyle media

Leaders

Interview: Lester Lam, Chairman, Camper & Nicholsons Asia

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Lawrence Chow on Asia’s Brave New World

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Alexander Karolik Shlaen: Market Boost for Luxury

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Marine Italia leads Azimut in Asia

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Absolute Yachts’ Asia appeal

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

MCY 96 Owner Jantana Selby: From Venice to Jomtien

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Rolex supports Perpetual Excellence

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

The international side of brokerage

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Millennial Jet Set: By Arnaud Tellier, BNP Paribas Wealth Management

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Asia Yachting expands with new brands, markets and offices

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Subscribe To Our Newsletter