Cluster Yachting Monaco Open Day

Projections and nnovations for a growing industry

 

i

The Cluster Yachting Monaco convened a hundred yachting professionals and a fleet of yachts moored in the YCM Marina for its first Open Day 2024. The meeting was a chance to take stock of the sector as it stands and make forecasts for 2030. “The industry must set itself apart in the best possible way. Our Cluster is always cited as a reference and is one of the best in the world. We must keep up the momentum,” began Bernard d’Alessandri, Cluster Yachting Monaco President and General Secretary of the Yacht Club de Monaco.

 

 After a presentation on statistics for the sector in 2024 by Katia Damborsky from Boat International, there were two sessions in the form of panels dealing with yachting’s evolution in the immediate future with a 360° vision of the different players involved and their commitment to sustainability.

 

All delegates also had an opportunity to visit the 15 yachts moored in the YCM Marina, presented by Sanlorenzo, Oceanco, Novamarine, RIB, Riva, Pardo, Saialia Yachts, Baltic Yachts, Dominator Yacht, Costruzioni Navali Tigullio, Palmer Johnson, Overmarine, Feadship and Philip Zepter Yachts.

 

A market on the up

With a fleet where the average age is 23 years, the market currently comprises 10,729 motor yachts and 1,897 sailing yachts. There are 1,166 projects under construction or on order with Italy dominating this aspect on 51.4%, even though the country only represents 40.1% of global production in gross tonnage terms.

 

Superyacht production has doubled in the last decade with 132 in-build. Germany leads on average length of superyachts in construction with 94.4m, followed by the Netherlands on 62m. Yachts customised by their owners represent 63.3% of the global fleet.

 

 

Trends and innovations

International trends for 2024 show a marked preference for diesel engines, far outperforming hybrid and diesel/electric engines.  The event also discussed the increase in use of Hydrogenated Vegetable Oils (HVO). Feadship has taken another step towards its goal to produce carbon neutral superyachts by 2030, with the Obsidian, an 84.2m superyacht that can run on a HVO non-fossil diesel fuel. Not to be out done Sanlorenzo is also testing this new clean emission biofuel on the 44m Lammouche.

 

Sustainability and energy efficiency

Optimising hull designs for better fuel efficiency, cleaner more efficient engines, hybrid, diesel-electric, and electric engines, rigid sails, HVO/bio fuels, solar energy, hydrogen / green hydrogen, methanol / green methanol and sustainable innovations are all solutions available now to improve vessel sustainability.

 

What future for yachting

What will the sector look like by 2030? A range of panellists attempted to answer this question by making overall projections for the industry. “In my opinion the 360° approach is the most interesting,” observed Artur Poloczanski, Public Relations Director at Sunreef. “You have to know how to optimise a yacht to achieve the sustainability objective”.

 

Anticipation is also key, as Covership Insurance Associate Director Vincent Huens de Brouwer pointed out: “We prefer to be involved from the start to adapt and better understand the needs. No new solution is excluded”. An overview is essential including “how the boat will be used and the ports where it will be berthed,” said Camille Lopez, President of Hy-Plug. All agree that owners must be encouraged to take sustainability into account. “We need more sustainable offers. Customers want to go in this direction, but there is still a lack of affordable solutions,” admitted David Legrand, broker at Fraser. “For the 30-50m segment, 90% of customers are interested in a more ecological approach but find the solutions are still too expensive”.

 

What solutions to convince the market?

“We need to invite potential customers to test solutions at sea,” recommended Artur Poloczanski. It is also crucial to get regulations out there and keep their impact in mind. “Whether in ports, banks, insurance, etc. regulations affect all sectors,” explained David Legrand. Camille Lopez added: “Some regulations already exist, others are being developed. It is essential to comply with them”. An observation for medium-size yachts is that customers are still looking for comfort more than sustainability.

 

What next?

Sustainability in new projects is driving the industry but solutions must also be found for the existing ageing fleet. “We have more and more boats in the current fleet,” said Arthur Bohr Monaco Site Director from Monaco Marine. “We need to find a solution for their destruction”.

 

“If everyone in the industry got involved, we would be proud and ready to commit to a better future for yachting,” concluded Vincent Huens de Brouwer. Awareness-raising is critical knowing customers prefer simple solutions. It is important to identify existing solutions to reduce pollution and go with those approved by the shipyards, not forgetting the importance of comparative analyses.

 

A year of celebration

On 10th June 2024, Cluster Yachting Monaco members will meet again to celebrate ten years of the association. Founded in 2014 by Bernard d’Alessandri, the Cluster Yachting Monaco is one of the first in the world solely intended for yachting sector stakeholders. It is in line with actions taken by a government-led committee (Conseil Stratégique pour l’attractivité) with the aim being to provide a platform for dialogue with decision-making authorities. Defined as a centre of competitiveness uniting a hundred interdependent organisations and companies working in the same sector, the Cluster has proved to be a unifying force

 

Contacts: a.ribeiro@yacht-club-monaco.mc

Copyright-free photos and video footage available on demand