Notes From The Editor

Week Ending 26th March 2011

Today sees the official opening ceremony of the 2011 Abu Dhabi Yacht Show, and I can't think of a better way to report on all the latest superyacht news than sitting right on the marina itself.

With blue skies and sun offering a beautiful backdrop to Yas Marina, alongside the sight of high-performance race cars tearing around the adjoining F1 track, the 2011 Abu Dhabi Yacht Show has officially opened.

In preparation for the show, I spent this morning beside some of the best and brightest members of the superyacht industry at the 2011 Abu Dhabi Superyacht Briefing; an eye-opening seminar which discussed vital topics concerning the growth of luxury yachting in the Middle East.

With the Abu Dhabi Yacht Show bringing such an intense focus to the luxury yachting potential of the Gulf region, key industry speakers lead a seminar to offer an insight into the state of the Middle East and the factors driving its growth and development.

Briefing Chairman for the Informa Yacht Group, Simon Turner, opened the event by introducing Gulf Craft C.O. Erwin Bamps, who offered a vital industry perspective from one of the Gulf’s leading superyacht builders.

Erwin Bamps offered an in-depth assessment of the highly positive growth of superyacht business in the Middle East, stating that new-build orders were looking healthy and in some ways comparable to the order books of 2007.

Bamps also stated that this year has seen a 34% growth in orders over 150 feet, leaving yacht orders up to 100 feet down by 25% - introducing the notion that high net worth individuals, who can gain the financing, are buying bigger.

Next up to the podium was President & CEO of Art Marine, Constantinos K. Constantinou, who delivered a speech on understanding Middle Eastern clients and the current market for superyachts.

Constantinou noted that there was an upward trend in overall average monthly unit sales as high-net-worth individuals begin to change their attitude toward spending - alongside the steady normalisation of prices across the board.

Alan Linnet then gave a talk on the regulations governing owners and their superyachts in the Middle East and how the region is now beginning to deal with in-depth regulation and procedure.

Richard Skinner, Director of the Orchid Office, followed with a fascinating explanation of the complexities and issues surrounding piracy and the safety, protection and management of superyachts travelling to the Gulf region from the West or East.

Finally, Matthew Bate, Director of Operations for Mourjan Marinas IGY, rounded off the day’s talks with an impressive insight into the future of superyacht marinas in the Middle East.

After a panel discussion and a brief Q&A, the 2011 Abu Dhabi Superyacht Briefing drew to a close, just in time for the opening of the 2011 Abu Dhabi Yacht Show.
I will be at the show in order to gain further insight into the growth of the Middle Eastern market, as well as send you all of the latest news, photos and updates.