superyacht market 2023

• Transportation & Logistics
• Luxury Yacht Market

"Market Intelligence for High-Geared Performance"

Luxury Yacht Market Size, Share & Industry Analysis, By Type (Motor Yachts and Sailing Yachts), By Size (Upto 50 Meters, 50 to 100 Meters, and More than 100 Meters), By Application (Personal use and Commercial use), and Regional Forecast, 2024-2032

Last Updated: September 02, 2024 | Format: PDF | Report ID: FBI105396

• Segmentation
• Methodology
• Infographics
• Request Sample PDF

KEY MARKET INSIGHTS

The global luxury yacht market size was valued at USD 7.67 billion in 2023. The market is projected to grow from USD 8.75 billion in 2024 to USD 17.33 billion by 2032, exhibiting a CAGR of 8.9% during the forecast period.

A luxury yacht is a high-end recreational vehicle offering exclusive and luxurious amenities along with accommodation. These vessels are loaded with the most advanced features for their users. Luxurious yachts include spacious cabins, staterooms, a pantry facility, multiple decks with entertainment facilities, water sports equipment, such as jet skis, and water toys. They are also equipped with advanced navigation and safety systems. These vessels can be privately or commercially owned. Their demand has increased steadily in recent years. This can be attributed to lifestyle changes, such as increasing wealth, recreation & leisure trends, and growing yacht tourism.

The luxury yacht market faced significant challenges during the COVID-19 pandemic, with travel restrictions and border closures leading to declining sales and demand. Many potential buyers postponed or canceled purchases due to uncertainty. However, as vaccination rates increased and travel restrictions eased, the demand for luxury yachts surged. Affluent individuals sought seclusion and social distancing, driving private yachting demand. There was a shift in travel preferences toward remote destinations, leading buyers to customize yachts with personalized amenities and eco-friendly features. Despite initial setbacks, the luxury yacht market demonstrated resilience and adaptability. Manufacturers and brokers adjusted policies to meet changing customer demands, leading to a positive outlook for the market's recovery.

Luxury Yacht Market Trends

Electrification of Yachts a Growing Market Trend

Yacht manufacturers are expected to increase the production of electric yachts as they switch to batteries to produce zero-emission products. The prevalence of clean propulsion technology will drive the growth of electric yachts in the future. Electric yachts have few moving parts and do not require engine oil or gas. Additionally, these yachts are quiet and require little maintenance.

Electric luxury yachts produce more torque and efficiently convert stored kinetic energy into electricity. These yachts are environmentally friendly and emit no carbon dioxide, thereby reducing greenhouse gas emissions. A tough regulatory environment for traditional yachts and rising fuel prices will pave the way for the solid growth of electric yachts in the future. Huge investments from various manufacturers and government support measures will accelerate the demand for electric yachts. Moreover, companies are investing in R&D to develop new concepts for electrification.

• For instance, in June 2023, Porsche and Frauscher Shipyard announced the development of the Frauscher x Porsche 850 Fantom Air, an innovative electric yacht.

This venture marks Porsche's ambition to extend its electric prowess beyond the road and racing cars to promote maritime sustainability. This model combines aesthetics and innovation; the yacht utilizes the Premium Platform Electric (PPE) technology. It is integrated with a high-capacity 100 kWh lithium-ion battery , the latest-generation permanently excited synchronous electric motor (PSM), and state-of-the-art power electronics.

Request a Free sample to learn more about this report.

Luxury Yacht Market Growth Factors

Increasing Number of UHNWIs to Surge Product Demand

The luxury yacht market is experiencing a significant surge in demand, primarily driven by the increasing number of global Ultra-high Net Worth Individuals (UHNWIs). Recent statistics reveal a notable rise in the proportion of UHNWIs, with the superyacht industry benefiting immensely from this trend. Leading yacht brokerage firms report record sales at top shipyards, with backlogs growing steadily. Additionally, there has been a remarkable increase in first-time charters, accounting for approximately 40% of the luxury charter market in 2021, according to insights from industry experts.

The growing wealth accumulation among billionaires and the super-rich fuels the demand for luxury yachts as affluent individuals seek extravagant investments that align with their lavish lifestyles. This trend is evident across various regions globally, with a particular emphasis on catering to the preferences and desires of ultra-rich clientele.

Furthermore, the steady rise in UHNWIs globally is expected to sustain the momentum in the luxury yacht market. Notably, regions, such as Asia Pacific, are anticipated to emerge as significant growth drivers for the luxury yacht market, owing to the rising affluence and luxury consumption trends in these regions. Overall, the increasing number of UHNWIs is a key factor propelling the growth of the luxury yacht market, shaping the industry landscape, and driving innovation in yacht design and customization to meet the evolving demands of ultra-rich clientele.

The growing desire among ultra-rich individuals to make extravagant investments that align with their affluent lifestyle further propels the demand for luxury yachts globally. This trend is underscored by the steady increase in wealthy individuals globally, particularly in regions, such as Asia Pacific, Europe, and other Middle Eastern countries. Thus driving the luxury yacht market growth.

RESTRAINING FACTORS

Environmental Concerns Related to Yachting Activities to Restrain Market Growths

Yachts have a significant impact on marine ecosystems. In busy waterways, the presence of luxury yachts can lead to algae and sedimentation, blocking solar radiation, degrading the water quality, and hampering marine life. In addition, sediments on yachts can change the water chemistry, making it either alkaline or acidic. The chemicals used to wash, operate, and protect yachts often mix with the water and seriously impact the environment, killing and debilitating wildlife. Since freshwater is commonly used for drinking water and fishing, such toxins in freshwater can affect humans as well.

New motor yachts, jet skis, sailing yachts, and other leisure boats have strict limits for nitrogen oxides (NOx), particulate matter, and hydrocarbons (HCs). In September 2021, representatives from the California Air Resources Board (CARB) proposed emission regulations for commercial yachts. Through these regulations, CARB aims to minimize harmful gas emissions. As recreational sailing is popular, protecting marine ecosystems and the environment has become an uphill battle. Regulatory measures and educational programs help raise awareness and reduce yacht-related pollution. But, protecting aquatic life and human health requires a concerted effort by yacht manufacturers, consumers, and regulators.

According to the International Maritime Organization, marine tourism resources are subject to various global threats to the oceans and marine systems, mainly due to anthropogenic factors. These include climate change, overfishing, bottom trawling (fishing nets along the seafloor), migration of invasive species, changes in inputs of waste, nutrients, and sediments to coastal and marine ecosystems, coastal urbanization, and loss of resources and natural capital in coastal areas, especially coastal wetlands.

Luxury Yacht Market Segmentation Analysis

By type analysis.

Higher Comfort Offered by Motor Yachts to Boost Their Demand

The market, based on type, is fragmented into motor yachts and sailing yachts. Motor yachts are the dominant and fastest growing segment. Motorized yachts provide larger space since they do not rely on winds and can cruise at high speeds, making them suitable for long-distance travels.

Sailing yachts have also showcased a significant growth rate in the market. This growth is due to their eco-friendliness and affordability. Sailing yachts have lesser budgets than motor yachts and are safer and more reliable.

By Size Analysis

Up to 50 Meters to Hold Largest Market Share Due to Affordability and Diverse Use

By size, the market is classified into up to 50 meters, 50 to 100 meters, and more than 100 meters. The up to 50-meter segment accounts for the largest global luxury market share. These yachts can be utilized for both personal activities and commercial use. Many manufacturers are developing new designs in this category.

• For instance, In January 2024, Tyde, the German luxury yacht manufacturer, collaborated with BMW to launch its second model, The Open. It is a 15-metre-long, fully-electric luxury day yacht.

The demand for superyachts and megayachts is rising in most developed countries, and there has been a notable surge in tourism in these nations. Therefore, the 50-100 meters segment is expected to record the highest CAGR, while the more-than 100 meters segment may exhibit a significant growth rate during the forecast period.

To know how our report can help streamline your business, Speak to Analyst

By Application Analysis

Rising Disposal Income to Boost Product Use for Personal Activities

By application, the market is divided into personal use and commercial use.

In 2022, the personal use segment held the largest market share. Rapid urbanization, rising living standards, rising personal disposable incomes, and a growing population of high net worth individuals have increased spending on luxury goods and leisure activities. These factors are anticipated to fuel the growth of the personal use segment. Therefore, luxury yacht services have also seen a significant increase in demand in recent years.

Rising commercial get-togethers, such as corporate events, parties, sailing competitions, and fishing activities, have boosted the growth of the commercial use segment.

REGIONAL INSIGHTS

Regionally, the market is analyzed across North America, Europe, Asia Pacific, and Rest of the World.

Europe Luxury Yacht Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample

Europe is expected to hold the largest market share. This region has the potential to dominate the market due to the strong growth of maritime tourism and wide range of tourist destinations. Countries, such as Croatia, Greece, France, Spain, and Italy are the region's top tourist destinations and highest income earners. The rise in the popularity of fishing activities and water sports and growing upper-class population are expected to drive the market development in the region during the forecast period. Rising booking of European air tickets, strong online demand for yacht charter service providers, and increased insurance of vessel permits are expected to drive market growth in the region. The region's wealthy population is also likely to drive the market growth.

North America holds the second-largest position in the market as the region's diverse coasts have become great cruise destinations. The U.S. dominates this regional market due to the presence of major charter hubs within the country.

Asia Pacific is expected to be the fastest growing region in the next few years. This growth has been credited to rapid urbanization, rising living standards, and rising disposable incomes. Leisure activities, such as fishing and water sports are becoming more popular in Thailand, Malaysia, Singapore, China, Japan, and Australia. Maritime tourism is also rising, presenting significant opportunities for yacht manufacturing companies. In addition, aggressive government initiatives for marine tourism development, especially in countries, such as India and China, are expected to boost the regional market growth.

List of Key Companies in Luxury Yacht Market

Significant Product Offerings by Azimut Benetti Will Strengthen its Growth Prospects

Azimut Benetti is the first among all key players leading a global private group in the yachting sector, established in 1969 and headquartered in Viareggio, Italy. It has more than 50 years of experience in the sector. The company has achieved 60% growth in the last four years and has a 526,000 sq.m. production facility and 138 showrooms in 80 countries globally. It is known for continuous innovation and experimentation; it has been the world’s leading manufacturer of mega yachts and shipyards with the widest range of models for 23 years. The company has 168 projects under construction, totaling 5,991 meters in length, making it rank first, for the 23rd time in a row, in the annual ranking of the largest yacht builders. The company has major brands, such as Azimut, Benetti, Yachtique, and Lusben.

LIST OF KEY COMPANIES PROFILED:

• Azimut Benetti S.p.A. (Italy)
• Sanlorenzo S.p.A (Italy)          
• Ferretti Group (Italy)
• Feadship (Netherlands)
• Princess Yachts (U.K.)
• Sunseeker Yachts (U.K.)
• Fr. Lurssen Werft GmbH & Co. KG (Germany)
• ISA Yachts (Italy)
• Ocean Alexander (Taiwan)
• Kingship Marine Limited (China)

KEY INDUSTRY DEVELOPMENTS:

• January 2024: Mayla Hamburg, a Germany-based manufacturer, is a new entrant into the luxury yacht market. It has announced the unveiling of a magnificent new water vessel. The 'GT' is a luxury yacht that can be powered by diesel and gas, as well as hybrid and electric. This particular yacht boasts a hull that is made entirely out of carbon prepreg materials weighing as low as 3.8 tons. This combination of top-notch powertrain options and low weight makes its speed between 50 and 100 knots. The yacht's luxury amenities include a sundeck, BBQ, high-end audio system, sofa lounge and more.
• November 2023: Gulf Craft announced the exploration of hydrogen technology for its superyacht fleet. Gulf Craft partnered with H2-Enterprises to explore & develop a zero-emissions Majesty yacht, which could be powered by an innovative LOHC (Liquid Organic, Hydrogen Carrier) energy system. H2-Enterprises has been working on this technology for the last 13 years and has now reached the stage of development to power a superyacht.
• June 2023: Sanlorenzo launched a 47-meter explorer yacht called Para Bellum. The company’s tenth yacht is in its high-selling 460-500 EXP series. It is powered by twin Caterpillar engines that reach a cruising speed of 13 knots.
• May 2023: The Kadey-Krogen Group (Florida) acquired American Tugs in LaConner, Washington. American Tugs was founded in 1999 and is a leading builder of high-quality, U.S.-built coastal cruisers with a vast customer base in North America and Europe. The company has delivered over 250 cruising yachts and five commercial vessels from its 2,600 sq.m. facility.
• April 2023: Ferretti Group launched the Pershing 140. It is the company’s first flagship model entirely built from aluminum in the Ancona facility. The Pershing 140 yacht is equipped with four MTU 16V 2000 M96L engines, each rated at 2,600 hp, providing a cruising speed of 35 knots and a top speed of 38 knots.

REPORT COVERAGE

The market report provides a detailed analysis and focuses on key aspects, such as leading companies, product types, end-users, design, and technology. Besides this, it offers in-depth insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth in recent years.

An Infographic Representation of Luxury Yacht Market

To get information on various segments, share your queries with us

Report Scope & Segmentation

Frequently Asked Questions

Fortune Business Insights says that the global market was valued at USD 7.67 billion in 2023. The global market is projected to grow to USD 17.33 billion by 2032.

The market is expected to register a CAGR of 8.9% during the forecast period of 2024-2032.

Increasing number of UHNWIs across the globe is expected to surge the market growth.

Europe led the global market in 2023.

• STUDY PERIOD: 2019-2032
• BASE YEAR: 2023
• HISTORICAL DATA: 2019-2022
• NO OF PAGES: 200

Related Reports

• Yacht Charter Market
• Leisure Boat Market

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

“Thanks a million. The report looks great!”

“Thanks for the excellent report and the insights regarding the lactose market.”

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

“I just finished my first pass-through of the report. Great work! Thank you!”

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

+1 424 253 0390 (US)

+44 2071 939123 (UK)

+91 744 740 1245 (APAC)

[email protected]

• Request Sample

The global luxury yacht market size is projected to grow from $8.75 billion in 2024 to $17.33 billion by 2032, at a CAGR of 8.9% during the forecast period

Read More at:-

Yacht Sourcing > Superyacht Market Surge Driven by North American and European Demand

Superyacht Market Surge Driven by North American and European Demand

• July 16, 2024

The global superyacht market witnessed a significant boom in 2022, reaching a staggering €33 billion according to a new study by the Italian Marine Industry Association and Deloitte. This marks a remarkable 11% increase from the previous year and reflects a consistent growth trajectory with a 10% Compound Annual Growth Rate (CAGR) since 2014.

Key Drivers of the Superyacht Market Surge

The report attributes this positive growth to a combination of factors:

• Rising Prices: The superyacht market has seen a continuous rise in prices, contributing to the overall market value increase.
• Increased Consumer Demand: Demand for superyachts surged. North America and Europe emerging as the dominant consumer groups, accounting for roughly 70% of the global market share.

Motor Yachts Reign Supreme

As expected, motor yachts continue to dominate the new build market, comprising an overwhelming majority of projects. Sailing yachts represent a smaller segment, estimated at only 10% of the total figure.

Superyacht Segment Leads the Charge

The superyacht segment itself, defined as yachts measuring 24 meters and above, experienced a particularly strong uptick. This category saw a 21% increase compared to 2021, reaching a total value of €25.3 billion. Notably, 60% of this segment is driven by new build yachts exceeding 60 meters in length. However, the report highlights continued high demand for steel and composite yachts within the 30-40 meter range.

Untapped Potential for Growth

Despite the positive market performance, the number of Ultra-High-Net-Worth Individuals (UHNWIs) – classified as billionaires in the report – witnessed a slight decline of 4% in 2022 compared to 2021. This suggests a potential contraction in the pool of immediate buyers. However, the report emphasizes a crucial point. The yachting industry currently only caters to an estimated 3% of the existing UHNWI population. This signifies significant untapped potential for attracting new buyers into the market.

Market Consolidation on the Rise

The study also identifies a growing trend of market consolidation, with over 400 mergers and acquisitions (M&A) deals happening between 2021 and 2023. Interestingly, 57% of these deals involved the “downstream segments of the value chain,” with a majority of activity concentrated among North American companies.

Italy Takes the Lead in Yacht Production

Italy remains the top builder nation, generating a staggering €4.4 billion in yacht production value for 2022, reflecting a 20% increase from the previous year.

Looking Ahead: Continued Growth Expected

The report offers an optimistic outlook for the future of the superyacht market. Deloitte Italia’s private leader, Ernesto Lanzillo, expects the sector to maintain its growth trajectory, with the superyacht segment continuing to be the primary driver of international expansion in the coming years.

Growth Projections:

• The Italian shipbuilding segment is expected to witness growth between 5% and 15% in 2023, which is fueled by deliveries of orders secured during the pandemic.
• Global retail yacht market growth (new build) is anticipated to surpass 8%, with a normalization period over the following three years. A CAGR of 6% is predicted between 2024 and 2026.
• Large yachts are expected to be the primary contributor to market growth, with the sailing yacht segment projected to experience a 3-5% increase within the same timeframe.

Solid Performance Throughout 2023

The report aligns with observations from Stefano Pagani Isnardi, head of the Italian Marine Industry Association’s Market Intelligence and Research Department. He suggests that the yachting sector has maintained its robust performance throughout 2023. He expects turnover within the industrial segments (boatbuilding and production of marine equipment and engines) to potentially exceed the record value of €8 billion.

The superyacht market is booming, with untapped potential for growth. At Yacht Sourcing, we leverage our market expertise to connect you with the ideal superyacht and guide you through the entire buying process. Contact us today and unlock the world of luxury yachting!

Interested about this topic? Check out other articles from Yacht Sourcing below:

• The Best Time to Visit Bali for an Unforgettable Experience
• Cruising in Elegance: Discovering the Allure of Pink Beach Indonesia with Yacht Sourcing

More Stories

Ultimate Yacht Party with Nala: A Phinisi with Modern Touch

A Small Yacht with Big Features: Explore the Al Dhaen 365 Center Console

Cannes Yachting Festival 2024: Majesty Yachts to Announce New Model

Embrace the Nomad Life on a Motor Yacht

Discover the Best Beaches in Nusa Lembongan with Forever Cruise

Yacht Brands: Exploring Yacht Sourcing’s Exclusive Portfolio

HEADQUARTER

Destinations

Yacht management

BUY A YACHT

CHARTER A YACHT

MANAGE YACHTS

• @[email protected]
• +62 812 3600 1024

Get an exclusive offer for yacht charter and sales, also get the latest yachts update right in your inbox!

Your Local Broker, Internationally

Berthon UK (Lymington, Hampshire - UK) Sue Grant [email protected] 0044 (0)1590 679 222

Berthon France (Mandelieu La Napoule, France) Bruno Kairet [email protected] 0033 (0)4 93 63 66 80

Berthon Scandinavia (Henån, Sweden) Magnus Kullberg [email protected] 0046 304 694 000

Berthon Spain (Palma de Mallorca, Spain) Simon Turner [email protected] 0034 639 701 234

Berthon USA (Rhode Island, USA) Jennifer Stewart [email protected] 001 401 846 8404

• Meet the Teams
• 12 Reasons to Use Us
• How to Sell
• Yacht Finance
• The Berthon Book

Yacht Market Report

• The Berthon Collection
• Job Vacancies
• Privacy & Cookies Policy

Berthon publishes an annual Market Report, reviewing yacht sales over the previous year and looking at what we believe will be the important trends and changes in the year ahead. Berthon are bluewater specialists and manage luxury yacht sales through a network of international offices.

Download Market Report 2024 (6.33MB)

• The Market Report 2024 by Sue Grant
• Sailing Yacht Review by Alan McIlroy & Harry Lightfoot
• Motor Yacht Review by Hugh Rayner & Harry Hamson
• Performance Yacht Review by Ben Cooper
• New Motor Yacht Sales by Robert Steadman
• Marketing Team Report by Lawrence Carter, Sophie Kemp , Harry Shutler & Isabel Moss
• Berthon USA Review by Jennifer Stewart , Alan Baines , Bill Rudkin , Peter Houghton & Jeanie Houghton
• Berthon Spain Review  Yacht Sales by Simon Turner & Nathalie Miquel-Elcano
• Berthon Spain Review Service and Refit  by Rowan Fairbrass
• Berthon Scandinavia Review by Magnus Kullberg
• Solaris Yachts Review by Richard Baldwin & Alan McIlroy
• VAT / Customs – It’s a New Dawn, It’s a New Day… by Simon Anslow of PKF Francis Clark
• Bluewater Cruisers – The Future Is Now by Marko Paš of Marine Designs (founder & director of Pegasus Yachts)
• World ARC – Sailing Your Dream by Rachel Hibberd, World Cruising Club
• Checkmate (Our New Look Cool Board)
• Mending the Marine Industry Skills Gap by Keith Longman
• Yacht Ownership – the March Towards an Easier Life by Sue Grant
• Yacht Brokerage Bumps in the Road for 2024
• Berthon Forecast 2024 by Sue Grant

The Adjoining Berthon Collection

Last Year’s Market Report 2023

• The Market Report 2023 by Sue Grant
• Sailing Yacht Review by Alan McIlroy; Footnote by Harry Lightfoot
• Motor Yacht Review by Hugh Rayner; Footnote by Harry Hamson, on Windy Brokerage
• A word from Michael White , affectionately known by the team as Chalky
• Berthon USA Review by Jennifer Stewart, Alan Baines, Bill Rudkin, Mark von Drashek and Peter Houghton
• Berthon France Review by Isabelle Skaf
• Berthon Spain Review Service & Refit by Rowan Fairbrass
• Berthon Spain Review Yacht Sales by Simon Turner, Ben Toogood and Nathalie Miquel-Elcano
• Solaris Review by Richard Baldwin and Alan McIlroy
• VAT / Customs – A Brave New World by Simon Anslow
• Keep Calm and Carry on Yachting by Sue Grant
• Yacht Transport by Mike Herrebrugh, Sevenstar Yacht Transport
• COOL to the point of freezing
• Harry Camera @ Berthon by Sue Grant
• Yacht Finance in 2023 – Close Brothers, Aviation and Marine by James Crew, Marine Sales Director
• Information Overload by Sue Grant
• Yacht Sales in the 21st Century by Sue Grant
• 2023 Berthon Forecast by Sue Grant

Last Year’s Market Report 2022

• The Market Report 2022 by Sue Grant
• Sailing Yacht Review by Alan McIlroy; Footnotes from Sophie Kemp & Harry Lightfoot
• Motor Yacht Review by Robert Steadman; A footnote from Harry Hamson
• New Motor Yacht Sales by Hugh Rayner
• Berthon USA Review by Jennifer Stewart, Alan Baines, Bill Rudkin and Mark von Drashek
• Berthon France Review by Bruno Kairet
• Berthon Spain Review Service & Refit by Andrew Fairbrass
• Berthon Spain Review Yacht Sales by Simon Turner and Ben Toogood
• Canine Stick Report by the Canine Division
• VAT Life After Brexit – One Year On By Simon Anslow
• The Practicalities & Possibilities of Delivery by Sea by Peter Kloezeman
• The Wallflowers of a Buoyant Market by Sue Grant
• Yacht Insurance by Richard Power
• COVID-19 and the Yacht Market by Sue Grant
• Yachting & the Supply Chain by Sue Grant
• 2022 Berthon Forecast by Sue Grant

Market Report 2021

• The Market Report 2021 by Sue Grant
• Sailing Yacht Review by Alan McIlroy; A footnote from Sophie Kemp
• Berthon Spain Review Yacht Sales by Simon Turner
• The Other Side of Brexit – VAT & Customs by Simon Anslow
• Brexit & Yacht Registration by Duncan Swanson – The UK Ship Register & Yachts in a post Brexit environment by Duncan Swanson of Ocean Skies.
• The Recreational Craft Directive by Alasdair Reay
• International Boat Shows by Sue Grant
• COVID-19 and The Yacht Market by Sue Grant
• The Business End of the Yachting Business and Meeting the Yachtsman’s Expectation by David Tydeman
• 2021 Berthon Forecast by Sue Grant

Market Report 2020

• The Market Report 2020 by Sue Grant
• Sailing Yacht Review by Alan McIlroy; footnote by Sophie Kemp
• Motor Yacht Review by Hugh Rayner
• The Windy UK and Pearl Yachts Review by Ben Toogood
• The Iguana Yachts Review by Robert Steadman
• Berthon USA Review by Jennifer Stewart and Alan Baines
• Berthon Spain Review by Andrew Fairbrass
• Solaris Review by Alan McIlroy and Richard Baldwin
• VAT vs. Brexit by Simon Anslow
• Brexit and getting on with life…
• Saving the Planet and Yachting
• Our Old Friend Currency
• Buying a New Yacht – some of the pitfalls, along with the fun
• The 2020 Berthon Forecast by Sue Grant

Editor’s Note: Much of the 2020 Berthon Market Report was written before the Covid-19 crisis gathered momentum. We decided to continue with this publication, just updated slightly. Of course we cannot know the impact of this crisis on all aspects of life going forward not just yachting, so we will not guess. We ask you all to stay safe, keep well and we hope that you will enjoy these jottings.

Market Report 2019

• Market Report 2019 Opening Remarks By Sue Grant
• Sailing Yacht Review By Alan McIlroy; footnote by Sophie Kemp
• Motor Yacht Review By Hugh Rayner; footnote by Robert Steadman
• Performance Yacht Review By Ben Cooper
• The Windy UK, Pearl and Iguana Review By Ben Toogood
• Berthon USA Review By Jennifer Stewart, Alan Baines, Bill Rudkin and Mark von Drashek
• Berthon France Review By Bruno Kairet
• Berthon Spain Review By Andrew Fairbrass
• Solaris Review By Richard Baldwin and Alan McIlroy
• THE CONFIDENCE & CURRENCY GAME
• INTERIOR DESIGN FOR YACHTS and why it matters…
• INFORMATION DELIVERY and the WORLDWIDE WEB in 2019
• HIGH LATITUDE CRUISING Steve & Linda Dashew look at the design and the risks
• IPV – BERTHON BRINGS YOU ANOTHER NEW ACRONYM TO CONJURE WITH…
• TECHNOLOGY and the YACHT MARKET
• 2019 Berthon Forecast By Sue Grant

Market Report 2018

• Market Report 2018 (Opening Remarks) By Sue Grant
• Sailing Yacht Review By Alan McIlroy and Sophie Kemp
• Motor Yacht Review By Hugh Rayner
• Performance Yacht and Advanced Yachts Review By Ben Cooper
• Solaris Review By Richard Baldwin
• The Windy UK Review By Ben Toogood
• Berthon USA Review By Jennifer Stewart, Alan Baines and Bill Rudkin
• A word about GDPR
• The Pacific and Southern Hemisphere as a cruising destination
• Technology in Design moving through the build process
• Residual Yacht value and the cost of having fun
• Talking points – cool to the point of freezing
• VAT and Brexit- What it might, might not and certainly won’t mean
• The Magic of Film
• General overview of the international stock markets and economies
• 2018 Berthon Forecast

Download Past Issues of the Berthon Market Report

• Berthon Market Report 2023 (PDF 9.16MB)
• Berthon Market Report 2022 (PDF 9.75MB)
• Berthon Market Report 2021 (PDF 3.20MB)
• Berthon Market Report 2020 (PDF 2.19MB)
• Berthon Market Report 2019 (PDF 1.96MB)
• Berthon Market Report 2018 (PDF 2.1MB)
• Berthon Market Report 2017 (PDF 2.5MB)
• Berthon Market Report 2016 (PDF 2MB)
• Berthon Market Report 2015 (PDF 7MB)
• Berthon Market Report 2014 (PDF 2MB)
• Berthon Market Report 2013 (PDF 2MB)
• Berthon Market Report 2012 (PDF 2MB)
• Berthon Market Report 2011 (PDF 2MB)
• Berthon Market Report 2010 (PDF 1MB)
• Berthon Market Report 2009 (PDF 3MB)
• Berthon Market Report 2008 (PDF 8MB)

Search BerthonInternational.com

Find anything, super fast.

• Destinations
• Documentaries

The Largest Top 100 Superyacht Launches of 2023

By Frances Flannagan

This year has seen an exceptional array of superyachts launched, from complex refits to technically advanced new builds. We take a look at six of the largest launches of the year, according to Superyachts.com’s Top 100 list of the largest yachts in the world.

Ranging from 90 to 145 metres in length, the five largest yachts launched in 2023 have certainly set the bar high for future launches. Three of the five largest yachts launched this year are Lürssen builds, as the German yard once again prevails as an esteemed industry leader. Freire Shipyard and Oceanco have also launched two exceptional vessels in 2023. 

145m - LUMINANCE

Builder: Lürssen

LUMINANCE was launched in February 2023: a highly anticipated project marking Lürssen’s eighth largest build. Her exterior design has been penned by Espen Oeino, marking the thirtieth collaboration between the designer and the shipyard. 

Her details have been kept tightly under wraps throughout her build process and following her launch, however she is said to have an internal volume of 9,000 GT and a beam of 20m, whilst bearing a steel hull and aluminium superstructure. 

According to Superyachts.com’s Top 100 list, LUMINANCE ranks as the 12th largest yacht in the world, marginally behind the Egyptian presidential yacht EL MAHROUSA which has an LOA of 145.7m. 

140m+ - Project ALI BABA

Despite an unintentional launch earlier this month due to a technical fault at her dock, Lürssen once again stunned the industry with the unveiling of the 140m+ Project ALI BABA. 

Whilst details of her build, design and specifications remain tightly under wraps, Project ALI BABA showcases a sleek, low grey profile, an elongated stretching bow, and two helipads. The industry had long awaited more news of ALI BABA’s build, as she was last seen in May 2022 during transport to begin her assembly. Following this unexpected launch and disruption, she is still on track to be delivered to her owner in 2024, recently moved to Lürssen’s Hamburg facilities for completion. 

With her official length still yet to be confirmed, Project ALI BABA will likely sit 16th in the Superyachts.com Top 100 largest yachts in the world, just behind Lloyd Werft's SOLARIS. 

In August, Lürssen launched its highly anticipated 122m JAG. She features an exterior design by Nuvolari Leanard: a sleek and sophisticated profile, with monochromatic black and white tones accented with splashes of red. Reymond Langton penned her interiors, and whilst they have not been revealed, we can only assume that they are just as eye-catching as her exterior design.

She can accommodate up to 20 guests across 11 staterooms with a crew of 40. She boasts exceptional space onboard, with a beam of 17.8m, making her a highly comfortable vessel. 

JAG ranks as the 32nd largest yacht in the world according to the Superyachts.com Top 100 list. 

114m - Project COSMOS

Project Cosmos was technically launched in March, known otherwise as Project 13759. Her first sighting was a highly exciting moment for the industry as, like LUMINANCE, little information has been revealed about the vessel. 

She has an interior volume of around 6300 GT, a beam of 18m, and a steel hull and aluminium superstructure. Notably, she is the first Lürssen superyacht to feature new fuel cell technology that significantly reduces emissions by avoiding greenhouse gases, contributing to a more sustainable superyacht future. 

Her technical launch revealed that Project Cosmos features a large aft deck and swimming pool, alongside a cut-out that we can presume will house a tender. 

According to Superyachts.com’s Top 100 listings, Project Cosmos ranks as the 45th largest yacht in the world. 

112m - RENAISSANCE

Builder: Freire Shipyard

RENAISSANCE was launched this year as Freire Shipyard’s new flagship motor yacht and the largest yacht ever to be built in Spain. Bannenberg & Rowell oversaw her exterior and interior design, of which her interiors boast neutral colours, tactile furnishings and highly usable spaces. 

She has six decks and can accommodate 36 passengers in 19 luxurious cabins. RENAISSANCE features a double-height dining saloon, a beach club and al fresco dining opportunities on four of the decks. She promises the ultimate relaxation retreat, with stunning views and a range of treatment rooms and salons, as well as an expansive beach club showcasing the latest water toys. 

Currently, she is the most expensive yacht on the charter market, with a starting price of three million euros a week in low season with Burgess. RENAISSANCE sits just behind Project Cosmos on the Top 100 list, ranking as the 47th largest yacht in the world.

105m - 1050H 

Builder: Oceanco

Superyacht standards were set very early on in 2023 with the launch of Oceanco’s 1050H on the 10th of January. She was one of the industry’s most closely-guarded secrets: neither a newbuild, refit, or conversion, representing a fundamental rebuild of unprecedented scale. 

1050H is a heritage superyacht that has been completely transformed: the first vessel that has been recreated to such an extent that no single element remains the same. She has a modern exterior aesthetic, with an entirely new superstructure, and with interiors penned by Reymond Langton Design. 

The Dutch yard commented: ‘At a time when yachting is increasingly mindful of the impact on the planet, bringing an existing superyacht up to date with contemporary standards can have as much, if not more, of a positive effect as a sustainable new build.’ This highlights the importance placed on sustainability, showing 1050H to be an exceptional vessel beyond aesthetics and performance. 

1050H ranks at 63rd on the Superyachts.com Top 100 list. 

2023 has been a remarkable year for superyacht launches, in particular with the emphasis placed on sustainability and future-proof design. These five vessels set the benchmark not only for 2024 launches, but for future yachts in general, as they all exude not only exceptional aesthetics and amenities but highly complex and innovative technical features. 

"At a time when yachting is increasingly mindful of impact on the planet, bringing an existing superyacht up to date with contemporary standards can have as much, if not more, of a positive effect as a sustainable new build." Oceanco Shipyard

"At a time when yachting is increasingly mindful of impact on the planet, bringing an existing superyacht up to date with contemporary standards can have as much, if not more, of a positive effect as a sustainable new build."

More news About…

Companies linked to this story, yachts in this story, more news from ..., sy exclusives.

672 Wine Club

• Motorcycles
• Car of the Month
• Destinations
• Men’s Fashion
• Watch Collector
• Art & Collectibles
• Vacation Homes
• Celebrity Homes
• New Construction
• Home Design
• Electronics
• Fine Dining
• Benchmark Wines
• Brian Fox Art
• Disneyland Resort
• Ka La’I Wakiki Beach
• Kalamazoo Grill
• Raffles Hotels & Resorts
• Sports & Leisure
• Health & Wellness
• Best of the Best
• The Ultimate Gift Guide

From Epic Sailing Vessels to Rugged Explorers: The 10 Best Superyachts That Will Launch This Year

Beyond size, this year's launches are unusually diverse, including motoryachts, sailing vessels, explorers and even a giant sportsfisherman., julia zaltzman, julia zaltzman's most recent stories.

• These Charter Yachts Let You Tag Hammerhead Sharks and Count Spirit Bears for Research
• These Luxe Villas Are the Place to Stay in This Retro-Chic Enclave on the Tuscan Coast
• The 7 Most Exciting New Superyacht Marinas in the World
• Share This Article

With a combined length of 2,929 feet, the world’s top 10 superyachts scheduled for delivery this year are moving away from the idea that yachting is about whose boat is bigger. The trend is now more about mission than size. This year’s launches will be wide ranging, from motoryachts to sailing vessels, explorers and even a giant sportfish.

The list includes offerings from German shipyard Lürssen , which has two 400-foot-plus yachts ready to splash this year, with noteworthy deliveries from other shipyards in Germany, Italy, and the Netherlands showcasing different definitions of design, power and performance.

Here are the yachts we can’t wait to see.

‘Koru’ (564 feet) Oceanco

Jeff Bezos’ first yacht, Koru , was spotted last week on sea trials. The Amazon founder chose to make a bold design statement by commissioning the world’s largest sailing yacht, not to mention the longest pleasure vessel, motor or sail, ever from The Netherlands. Built by Oceanco, the titanic sailing machine is an incredible 3300 GT, powered by kinetic energy generated by the sails. Besides its massive length, its classic canoe stern, a double-deck wooden coach house and navy hull with a red stripe differentiate Koru from any other vessel on the water. The project remains hush-hush. Even the designers remain a secret.

‘Liva’ (387 feet, 1 inch) Abeking & Rasmussen

Launched late last year and scheduled to be delivered in early 2023, Liva is the largest yacht built by Abeking to date, overtaking the German shipyard’s previous flagship Aviva by 65 feet. The French studio Joseph Dirand Architecture was commissioned to pen both the exterior and interior, which is reported to include a semi-submerged underwater observation room on the lower deck, a supersized pool, helipad, spa with sauna and beauty salon, and a lower-deck beach club.

‘Alchemy’ (216 feet, 5 inches) Rossinavi

Commissioned by a private American client, the 216-foot multi-deck motoryacht Alchemy is one of three yachts to be launched by Italian shipyard Rossinavi in 2023. Exterior design is by Philippe Briand, with interior styling by Enrico Gobbi’s Team for Design. Little information has yet to be revealed, though it’s visible from images that the custom yacht features an axe bow, drop-down side terraces at the stern and large floor-to-ceiling windows that afford views from all levels.

Project Jag (400 feet) Lürssen

The 400-foot displacement motoryacht known only as “Project Jag” is reported to be the owner’s third Lürssen. His most recent is Kismet . It is set for delivery in late 2023. Capable of sleeping 20 guests and 40 crew, the gigayacht is equipped with a helipad, spa, swimming pool, two cinemas, gym and storage for a sub. Italian design firm Nuvolari Lenard designed the steel yacht’s exterior, while UK studio Reymond Langton has crafted what is rumored to be a “bespoke homage to the owner’s lifestyle”—whatever that means.

Project Luminance (426 feet, 5 inches) Lürssen

Project Luminance is a 426.5-foot motor yacht that Lürssen claims will be one of the largest and most technologically advanced boats in the world. It’s also the largest yacht due to deliver in 2023. Construction began in 2018, yet few details have been revealed. What we do know is that the seventh-largest project to ever come out of the German shipyard to date features state-of-the-art propulsion systems, advanced navigation and communication systems, as well as next-generation entertainment.

‘T52’ (170 feet) Baglietto

The first model in Baglietto’s T52 line, which splashed in February 2023, features sleek lines and aerodynamic grills penned by Francesco Paszkowski Design. Power comes from a diesel-electric-hybrid propulsion system. The yacht celebrates outdoor space, including a large multi-level beach club at the stern with a fold-down transom, oversized sunbeds and a swimming pool with a floor that rises flush with the deck. Sliding windows on the upper deck convert space into an open-air sky lounge and a 78-foot sundeck with a glass-encased hot tub.

Project 406 (170 feet, 6 inches) Royal Huisman

The Dutch shipyard Royal Huisman made its name building some of the world’s largest sailing yachts, including 296-foot Athena , but now it’s hitting the record books again with the impending launch of Project 406 , the world’s largest sportsfisherman. Naval architecture, exterior and interior are by Dutch studio Vripack. The firm gave the six-decked aluminum yacht a towering profile promising spectacular front-row views of the big game fishing action. The team balanced its height by a long bow, high bulwarks and uncluttered fishing cockpit.

‘Black Shark’ (252 feet, 6 inches) Nobiskrug

Black Shark first began construction in 2019, but all work ceased when Nobiskrug later filed for insolvency. In March 2022, following the German shipyard’s acquisition by entrepreneur Lars Windhorst, work on Black Shark recommenced, with delivery set for 2023. The 252-foot boat, designed by Winch Design, gets its name from its predatory profile and mast shaped like a dorsal fin. A reverse bow, black matte hull and metallic silver superstructure will also help to enhance the marine connection.

‘Ultra G’ (196 feet, 8 inches) Heesen

Heesen is renowned for building fast boats, so it’s no surprise that Ultra G , equipped with a propulsion package totaling 22,000 horsepower, with four water jets and a top speed of 37 knots. The Dutch yard hailed this as its most powerful project to date. The motoryacht was commissioned by an avid sportfisherman, with a fighting chair and storage for 40 rods. Entertainment was also a big mandate for the design, stretching from Samsung’s “The Wall” screen, an infinity pool, and a dedicated self-cleaning “dog park” for furry guests.

‘Maverick’ (145 feet, 3 inches) Cantiere delle Marche

Maverick is the first Flexplorer 142 to soon be delivered by Cantiere delle Marche (CdM), bought by a young German who is a keen sailor and serial owner of both sailing boats and motoryachts. The owner’s itinerary will see him cruising the Mediterranean, before heading to the Northern latitudes to cross the Northwest Passage and put Hydro Tec’s bold exterior design and running surface to the test. Key features include a custom-built A-frame crane that sits flush on the deck when not in use, collapsible bulwarks that fold-down to reveal a 1,450-square-foot beach club, and an infinity pool at the transom.

Read More On:

• Abeking & Rasmussen

More Marine

The Shipyard That Built the ‘Titanic’ Has Filed for Bankruptcy

This New Catamaran Concept Was Designed to Carry Your Bugatti Across the High Seas

Meet Spitfire, a New 164-Foot Superyacht Based on a High-Performance Patrol Boat

What It’s Like to Watch an America’s Cup Race Right on the Water

Meet the Wine Club That Thinks Differently.

Receive editor-curated reds from boutique California producers four times a year.

Give the Gift of Luxury

Latest Galleries in Marine

Spitfire Superyacht in Photos

The AX/E 22 and AX/E 25 in Photos

More from our brands, the 14 best baggy jeans and how to wear them now , fox powers past ‘smackdown’ in ‘college football friday’ debut, documentary community contends with distribution challenges: ‘incredible, urgent films’ are ‘not getting those kind of platforms’, a new edition of john elderfield’s ‘frankenthaler’ shows an artist with real new york chutzpah, the best yoga mats for any practice, according to instructors.

A slow start to 2023 for the global superyachts market

By Katharine Swindells

Superyacht sales in January 2023 were down more than 50 per cent year on year.

The global superyacht broker market may be off to a faltering start to 2023, after two record breaking years.

Analysis by BOAT International recorded 32 superyacht sales in January 2023, for a total sale value of $153.3 million. This is less than half the total sale value this time last year, when 42 yachts were sold for $336 million,  and 20 per cent below the sales in January 2021.

The dip of last month follows a roaring end to 2022 for the industry: in December, 50 superyachts were sold for a total $592 million.

Murdoch succession showdown prompts shareholder to challenge family control

Who are the Agnelli family?

HSBC to grow UK team as it looks to double wealth division

Read More: The best yacht advisers for high-net-worth individuals

But yacht brokers say demand is still strong compared to pre-pandemic levels. Mark Duncan, Business Development & Marketing at yacht brokerage FRASER, says the industry isn't experiencing a decline in demand, but rather a slowing from the fervent pace of sales seen throughout the pandemic.

November and December, in particular, tend to see a high level of activity as people hurry to settle deals for the new year.

Content from our partners

What makes a great boarding school experience?

How Flygreen is ascending into the future of private aviation

Stoneweg, Icona, and CBH Strengthen Partnership with Cromwell Acquisition, Adding €4 Billion AUM to Stoneweg

‘Like most purchases of passion, yachting is susceptible to a number of worldwide geopolitical, economic and geographical influences, but as it stands right now, all the indicators are that the demand for purchasing will continue to outpace the pre- Covid years by some margin, albeit slowing slightly on the boom years of 2021 and 2022,’ he tells Spear’s .

Although the firm’s January number of sales is below 2022 and 2021, Duncan says, it was still almost double the average January in the preceding 11 years.

The biggest superyacht sales of January 2023

Three of the January sales were new builds, including a Majesty 140 from Gulf Craft, a Codecasa Vintage Series model and a 28-metre Pershing 9X, the asking prices of which have been withheld.

The most expensive brokerage sale in January was the 37-metre motor yacht Jules from Custom Line, which sold for €16.5 million (around $17.6 million).

The second most expensive brokerage sale of the month was secured by Edmiston for the 49.8-metre sailing yacht Perini Navi Silencio, with an asking price of €13.5 million ($14.4 million).

Meanwhile, January 2023 saw 63 new superyachts listed for sale, more than double the number of a year ago. These new listings are of remarkably high value, with an average price of $20 million. In comparison, in January 2022 the average newly listed yacht was $9 million. Brokers say despite the dip in sales, there is still a high level of enquiries, particularly for large, pedigree stock.

The recent listings include Oceanco's 85-metre motor yacht Cloud 9, which is listed with Burgess for an asking price of €155 million ($165 million). Two other yachts were placed on the market with asking prices at or above the €100 million threshold including Lürssen's 90-metre Ice and Feadship's 76-metre Ebony Shine.

The total value of new listings in January 2023 was $1.2 billion, more than four times the new listing value in January 2022.

It’s clear people are keen to sell, with 70 yachts seeing price drops in January, for a total price reduction of $54.2 million. The largest drop was Codecasa's 61.9-metre Moneikos, which was reduced by a quarter to €29.25 million ($31 million).

Alex Koersvelt, Commercial Director of Edmiston, says the yacht brokerage market is entering its new normal. Although it may not be the same pace of demand seen throughout the last three years, the yachting client base has grown hugely through the pandemic, and their demands are changing too.

‘We are noticing a trend of existing clients stepping up in size as they are tending to spend more time onboard their boats following Covid-19 changing the way we all live and work,’ Koersvelt says.

‘We are also seeing an influx of first-time buyers investing in yachting as a way of enhancing their lifestyle and spending more time with family and friends.’

Yachting appetite 'will only grow'

Duncan believes the new clients of the pandemic, which for FRASER made up 40 per cent of their client base in 2021 and 2022, are here to stay - and their appetite for yachting will only grow.

‘They and their families will have been bitten by the bug and are loving every minute of the freedom, exploration and “time-out” that yachts and yachting opens up for them,’ Duncan says.

‘And they will be sharing their experiences with friends and extended family who in turn will then also be excited to try it all out for themselves – whether as upcoming owners or as charterers.’

With a swathe of new yachts entering the market and brokers jostling to get them sold, it’s clear the market is not lacking activity. Whether sales numbers will continue to fall, or will settle at a level above the pre-pandemic norms, remains to be seen. 

Header image: The DOJO is a classic Feadship, currently listed by FRASER Yachts for $9.5 million. Image courtesy of FRASER.

More from Spear’s

Peter Lürssen on building a luxury superyacht brand

How superyachts can boost the global luxury property market

Onboard Lady Moura: The world’s first superyacht

Katharine Swindells

Spear’s weekly.

• Business owner/co-owner
• Chairperson
• Non-Exec Director
• Other C-Suite
• Managing Director
• President/Partner
• Senior Executive/SVP or Corporate VP or equivalent
• Director or equivalent
• Group or Senior Manager
• Head of Department/Function
• Non-manager

Thanks for subscribing.

Below Deck Sailing Yacht Exes Daisy Kelliher and Gary King Have Explosive Reunion in Season 5 Trailer

Below deck sailing yacht 's daisy kelliher confronts "pr--k" gary king following their failed boatmance in e news' exclusive first look at season five. plus, meet the new yachties..

Below Deck Sailing Yacht 's new season will be anything but smooth sailing.

That's because returning costars Daisy Kelliher and Gary King are anything but friendly after their failed boatmance in E! News' exclusive first look at the Bravo series' fifth season.

Following Daisy, Gary and BDSY alum Colin MacRae 's messy love triangle , Daisy is still reeling from the complicated and dramatic fallout from last season.

"Going into this season, I got rid of some dead weight," the newly single Chief Stew says in the trailer. "The breakup did a number on me last year. I felt very broken. But now, I'm coming back in more focused, full of energy and I'm f--king good at my job. And I'm taking back the reigns."

Despite her initial confidence about returning to the Parsifal III , Daisy adds, "It's gonna be a s--t show."

Cut to the Ireland native yelling at Gary, "Guess what? We have a f--king job to do and I'm not f--king carrying this season on my own, you f--king pr--k!"

But luckily for Daisy, the preview teases her quickly moving on with new Deckhand Keith Allen , who tells Gary, "Daisy would make a very good wife. No?"

As for Gary's response, he bursts out laughing at the crewmember's declaration.

However, Daisy feels the same about Keith and tells him, "You're the kind of person I've never met before."

And when it comes to this season's charter guests, the yachties have too much of a good time with one group on shore.

After a night out, Captain Glenn Shephard warns the team, "You guys went out with some guests, I set some ground rules. Two drinks maximum. You knew the rules, you broke the f--king rules, and now you're here getting upset."

Check out the trailer above for a preview of all the drama to come. And keep reading to meet new yachties Chef Cloyce Martin , Chief Engineer Davide Morosi , Stews Diana Cruz and Danni Warren and Deckhand Emma Crouch .  

Below Deck Sailing Yacht premieres Monday, Oct. 7, at 9 p.m.   on Bravo. Episodes will be available to stream next day on Peacock. 

Captain Glenn Shephard

Capt. Glenn and his expert crew set sail on Parsifal III to the luxury party capital of the world, Ibiza. While Ibiza is known for its sunny day parties and crystal-clear coast, it’s stormy waters ahead for the crew as they navigate blossoming boatmances, competitive co-workers and tense personal dynamics, all while trying to raise the bar every charter.   

Chief Stew Daisy Kelliher

After a distracting love triangle last season that took her focus away from work, Daisy is ready to take the reins back in the interior department with a new sense of energy and determination. However, plans for a stress-free charter season are threatened when her stews question her leadership. 

First Mate Gary King

On deck, Gary attempts to keep his team motivated as one crew member struggles to learn the ropes. 

Chef Cloyce Martin

In the galley, Chef Cloyce charms the crew and guests but at only 22, he may be too inexperienced to meet the demands of the high-maintenance charter guests.

Deckhand Keith Allen

Stew Diana Cruz

Deckhand Emma Crouch

Stew Danni Warren

Chief Engineer Davide Morosi

(E!, Bravo ad Peacock are all part of the NBCUniversal family)

• Show more sharing options
• Copy Link URL Copied!

Global 2023 marine premiums hit $38.9bn and London increases hull share: Iumi

There has been an exodus of hull premium from the london market to nordic carriers since 2014..

Global marine insurance premiums grew by 5.9% to $38.9bn in 2023, driven by a combination of increased insurable volumes and improving rate, according to the International Union of Marine Insurance (Iumi).

Login to continue

Please enter your email address below.

Opening your single sign-on provider...

Questions about your access? Refer to our FAQs for answers or appropriate contacts

Fuel a smarter strategy with our actionable market intelligence

• Gain a competitive edge and accelerate decision-making
• Be empowered by insights that transform confusion to clarity
• Uncover growth opportunities and prepare for potential threats

As a premium subscriber, you can gift this article for free

You have reached the limit for gifting for this month

There was an error processing the request. Please try again later.

International Union of Marine Insurance

Press releases.

Positive development across all marine insurance lines of business continued in 2023, reports IUMI

16th September 2024 | Print version

Today, the International Union of Marine Insurance (IUMI) presented its analysis of the latest marine insurance market trends at its 150th annual conference in Berlin, Germany.

The global marine insurance premium base for 2023 was reported as USD 38.9 billion representing an uplift of 5.9% from the previous year. Development was seen across all lines of business with the Offshore Energy sector enjoying a 4.6% increase, Cargo insurance 6.2% increase and Ocean Hull 7.6% increase.

Distribution of premiums had not changed significantly from 2022 with Cargo commanding the largest share at 56.9% followed by Ocean Hull (23.6%), Offshore Energy (11.9%) and Marine Liability (7.7%). By region, Europe continued its dominance with a 48.5% share of global premiums followed by Asia/Pacific (28.1%), Latin America (10.9%), North America (7.0%) and the rest of world at 5.5%. Interestingly, after a period of decline, European premiums had enjoyed an upward trend since 2019 and the Asian market had also continued its rally since its downward trend ended in 2016. Latin and North America were also showing a modest upswing in their premium base. 

Providing some context, Astrid Seltmann, Vice-Chair of IUMI’s Facts & Figures Committee, said:

“Global premiums reflect a combination of insurable volumes and prices per unit. The drivers for the increase in premiums are typically a continued rise in global trade volumes & values (cargo), coupled with increases in vessel values (hull), or the increase in oil price inducing more activity in the offshore energy segment. More widely, geopolitical conditions will have impacted premiums in a number of regions, as have general market conditions, specifically capacity. Overall, 2023 appears to have been a positive year for marine underwriters. The other part of the equation is the impact of claims which has been comparably benign over the past few years, despite individual severe claims giving rise to concern such as fires; and some visible inflation impact on the average cost of attritional losses. However, ever larger vessels, increasing value accumulations, changes in technology and fuels as well as changes to trading routes all mean a change of risk, which needs to be taken monitored and taken into account going forward.”  

Offshore Energy

Global premiums in the Offshore Energy market were reported as USD 4.6 billion in 2023, a 4.6% uplift on 2022. The UK continued to dominate with the Lloyd’s and IUA  markets accounting for a 28.2% and 36.8% share respectively.

The fortunes of this market tend to follow the oil price which appeared to have stabilised at a comparatively healthy level. This had driven renewed activity which, in turn, had led to positive market development. Premiums had rallied after reaching a low in 2019 and have continued upwards since then. The future trend will depend on the stability of the oil price and OPEC+ production decisions as well as insurance market capacity.

In recent years, claims were relatively low even though many offshore assets were being reactivated. However, 2023 saw two major losses and loss ratios (Europe) were starting out at a higher level than in previous years. Loss ratios in this sector take time to develop with no obvious pattern and so it is not certain how 2023 will play out. However, it is likely that 2023 will underperform when compared with the years 2020-2022. 

Although day rates for offshore assets remained high, future performance of this sector will depend on oil price/production, weather events and market capacity. Similar to last year, a fragile balance between premiums and claims remains.

Cargo insurance returned a global premium base for 2023 of USD 22.1 billion – a 6.2% improvement on 2022. All regions experienced growth with Europe and Asia enjoying marked positive development. Overall, Europe claimed a 39.8% share followed by Asia/Pacific (32.2%), Latin America (11.9%), North America (7.5%), Middle East (6.0%) and Africa (2.7%). In general, premium growth in this sector follows global trade which had now normalised following COVID. The International Monetary Fund was predicting continued growth in world trade values, and this bodes well for cargo underwriters going forward, although such projections are subject to a considerable amount of uncertainty given the geopolitical situation. It should be noted that exchange rate fluctuations tend to impact most heavily on this sector, such that growth trends may deviate in local currencies and also make direct comparisons with earlier years more difficult.

Cargo underwriters suffered challenging loss ratios prior to 2019 but since then ratios have improved year-on-year. Although fires and floods have had an impact on claims, loss ratios for Europe in 2023 appeared to be more positive than in recent years. Loss ratios in other regions were also enjoying an improvement since 2019. The overall claims impact remained stable.

In general, Cargo insurance was enjoying improved results and a long-awaited period of positive stability. That said, a number of perennial issues will continue to impact including large vessel fires, mis-declared cargoes, accumulation of risk, severe weather events and geopolitical instability.

The Ocean Hull sector reported global premiums of USD 9.2 billion representing a 7.6% increase from the previous year. Europe commanded the largest share at 51.8% followed by Asia/Pacific (35.5%), Latin America (7.6%), North America (4.3%), Africa (0.6%) and Middle East (0.3%). The UK, China and Latin American markets had all experienced an increase in share during 2023 whilst the recent (and dramatic) rise in the Nordic market now appeared to have stabilised.

A return to normal shipping activity following COVID had a positive impact on vessel values in most classes and a higher demand for vessels had driven up the global premium base. This was particularly true for offshore support vessels whose values had risen significantly following a stable oil price and a reactivation of offshore activities.

Previously, there was concern over the large gap between total gross tonnage/number of vessels and global premiums which had opened markedly between 2011-2018. This gap began to close slightly from 2020 and, in 2023, had continued to reduce.  

Following post-COVID reactivation, the frequency of hull claims showed some increase but had not yet exceeded pre-pandemic levels. Total loss frequency also showed a slight recent increase but remained at a very low level. The claim cost per vessel increased somewhat and in 2023, for the first time, exceeded the pre-COVID level. This was mainly due to increased major loss impact, particularly from costly vessel fires, which remains an ongoing issue.

Loss ratios (Europe) started at a higher point than the previous three years which might be attributed to a combination of an increase in claims coupled with the inflationary impact of repair costs. It is likely that 2023 loss ratios across most regions will be less positive than the previous two or three years, but better than the years prior to 2020.    

Summing up, Jun Lin, Chair of IUMI’s Facts & Figures Committee said:

 “Overall, 2023 was a positive year for marine underwriters with market development seen across all lines of marine insurance business. World trade continued to grow which impacted positively on the global premium base, particularly for cargo insurance. The oil price appears to have stabilised which is good for the offshore sector. Inflationary pressure has eased and many central banks are beginning to cut their interest rates. The claims environment was also relatively moderate in 2023 with no major weather events or vessel casualties making a significant impact on the overall costs, despite a few costly fires.  Large vessel fires, particularly on containerships and car carriers, are still a major concern for hull and cargo insurers.”

“Increasing geopolitical tensions are creating headwinds for our industry and there seems no end to their impact in 2024 or beyond. The continuing Houthi attacks in the Red Sea area and the Russia/Ukraine war are disrupting traditional shipping routes and causing some carriers to change the way they operate. And we must not forget the tragic loss of life suffered by seafarers in those regions. Re-routing vessels around Africa brings additional risks but, so far, we have not seen any significant issue. On the flip side, these longer routes, particularly for containerships, have absorbed the influx of newbuilds into the market ensuring freight rates remain stable.”

“Other headwinds for 2024 and beyond will include the impact of the impending US election, climate change and associated extreme weather events, zero-carbon fuel technology and cyber-risks. But despite this, the marine insurance market has fared well in 2023 and I’m confident that marine underwriters will embrace future change with the same alacrity they’ve shown previously.”

IUMI’s total world-wide premium includes data from all relevant marine insurance markets. Care should be taken when making comparisons with earlier figures as data coverage varies in different years and a number of figures will be updated retrospectively. Similarly, the presented loss ratios for Hull, Energy and Cargo do not encompass all countries per region, and underwriting year results do develop over a couple of years due to a time lag in claims reporting and payments. When interpreting statistics, caution should always be applied regarding what the data actually relates to.

IUMI stresses that all figures released by IUMI’s Facts and Figures Committee are global market sums or averages. While these reflect the average performance of the marine insurance market, individual companies’ or countries’ results may differ substantially. As with all averages, individual underwriting units may over or underperform compared with the average. IUMI does not make any statements about what actual applied premium rates were or should be. The aim of IUMI is solely to provide data as available and raise awareness for the importance of a critical evaluation

of the risks covered.

The full presentation is available to download from www.iumi.com

For further information contact:

Mike Elsom 

Phone         +44 7968 196077

Email          [email protected]

About IUMI The International Union of Marine Insurance e.V. (IUMI) is a non-profit association established for the purpose of protecting, safeguarding and advancing insurers‘ interests in marine and all types of transport insurance. It also provides an essential forum to discuss and exchange ideas, information and statistics of common interest for marine underwriters and in exchange with other marine professionals.

IUMI currently represents 42 national and marine market insurance and reinsurance associations.

Grosse Elbstrasse 36, 22767 Hamburg, Germany

Phone              +49 (0) 40 2000 747-0

Email               [email protected]

You are using an outdated browser. Please upgrade your browser .

The mission of the San Diego Yacht Club is to encourage and foster interest in all aspects of yachting

Tucked away in beautiful Point Loma, the San Diego Yacht Club is consistently ranked among the top 5 yacht clubs in the Nation and is recognized by the  Club Leadership Forum  as one of the finest facilities of its kind in the world.

Throughout its existence, the San Diego Yacht Club has evolved from a small gathering of boating enthusiasts joining together in 1886 to a world-renowned yachting community recognized for its success in bay sailing, ocean racing, predicted log racing, cruising, angling, and its support of youth programs at all levels. Competitions have ranged from Major National and World Championships to the Lipton Cup, from Junior Regattas to the Olympics, and from Classic yachts to the America’s Cup. Training and racing programs are available for adults as well as juniors.

Enter your username and password to sign in.

• My communications preferences
• Delegated Authority
• Underwriting Academy
• Contact the Underwriting Team
• Lloyd's Claims Lead Arrangements
• LMA Claims Committees
• Major Loss Coordination
• Useful Information
• Hybrid Claims Workforce of the Future
• Online Bitesize sessions
• Claims Academy
• Contact the Claims Team
• Claims Sector Updates
• All Committees and Groups
• LMA Operations Committee
• LMA Delegated Authority Committee
• Operations Activity Tracker
• Structured Data Capture (SDC)
• Future at Lloyd's
• The Xchanging Relationship
• Live operations - market online systems
• Operational Resilience
• Market Operations online Bitesize
• Technology & Security
• Business Continuity Planning
• Business Operations Academy
• Contact the Market Operations Team
• Regulatory Committee
• Legal Committee
• Lawyers' Forum
• Legal Trainee Wordings Scheme
• Consultation Responses
• Useful documents
• Legal & Regulatory Activity Tracker
• Contact the Legal & Regulatory Team
• Finance Committee
• Committee of Actuaries in the Lloyd’s Market (CALM)
• Chief Risk Officers Committee
• Exposure Management Working Group
• Finance & Risk Activity Trackers
• Finance, Risk & Actuarial Academy
• Contact the Finance & Risk Team
• About the HR & Academy Team
• LMA Academy
• Work at the LMA
• Contact the HR & Academy Team
• About the Communications Team
• Stay Informed
• Contact the Communications Team
• Risk Code Triangulations
• LMA Leadership Team
• Technical expertise

PRESS RELEASE 16 September 2024

Market-wide consultation launched around computable contracts

Feedback sought from across the market on new digital-ready model wordings for binding authority agreements 

London, 16 September 2024:  The Lloyd's Market Association (LMA) has launched a market-wide consultation on the new Computable Binding Authority Agreement (CBAA) model wording that is being developed with the support of Lloyd’s, LIIBA, MGAA and the IUA. The draft CBAA model wording is the product of many months of effort from experts drawn from the London delegated authority (DA) community and the Associations to come up with an updated, robust and accurate binding authority agreement. The proposed wording has been structured into a set of 15 modules and designed as a ‘digital object’ for use in ‘data-first’ contract builder software. The project is also set to deliver a new digital wordings library to store every component of the new wording – the words as well as the numbers – in a modular, digital format for the first time. The result will be the introduction of truly computable contracts of delegation for the DA market.   The consultation is intended to allow engagement with all DA stakeholders, including managing agents, coverholders and brokers, to pave the way for smooth adoption and implementation of the new model wordings and associated systems once they are launched. The consultation will take place in phases, with different modules being released at each phase, and will run to the end of the year with this current phase due to close on 30 September. The consultation is available on the LMA’s DA Reimagined (DARe) microsite: https://www.lmadare.co/2024-consultation .  Nigel Roberts, AEGIS London and Chair of the LMA’s Delegated Authority Committee, said: “A digital marketplace must include DA business. Over the last two years, we have been working towards creating a new computable contract that the DA market can adopt with ease and benefit from in terms of efficiency. I very much hope the whole market will take time to participate in the consultation, so that we can step seamlessly into a new era of modular wordings stored online for the first time – a long overdue step for underwriting efficiency.” Carla Wise, Delegated Authority Manager at the LMA, commented: “We are moving closer towards a more digitally connected marketplace. This consultation is an important milestone in the modernisation of London market DA business. We invite feedback from all those involved to ensure that the proposed wording is right for the market and can be easily adopted by all brokers, underwriting teams and coverholders. We thank those who have been and continue to be involved.”

Notes to Editors

Media relations contacts LMA: Carole Porter, Head of Communications | +44 20 3307 3947 | Email: [email protected] Omnia Partners : Victoria Sisson, Director | +44 794 129 4872 | Email: [email protected]

About the Lloyd’s Market Association (LMA) The Lloyd's Market Association (LMA) exists at the very heart of Lloyd's, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. All 55 Lloyd's managing agencies, with a total market stamp capacity of approximately £52.6bn in 2024, and all Lloyd's members' agents, are members of the LMA.    We represent our members' interests to organisations including governments, regulators, and the market's central supporting body, the Corporation of Lloyd's. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd's and the other market associations to influence initiatives and outcomes. We operate the market's most comprehensive technical education service, the LMA Academy. For more information visit:  www.lmalloyds.com .

The global authority in superyachting

• NEWSLETTERS
• Yachts Home
• The Superyacht Directory
• Yacht Reports
• Brokerage News
• The largest yachts in the world
• The Register
• Yacht Advice
• Yacht Design
• 12m to 24m yachts
• Monaco Yacht Show
• Builder Directory
• Designer Directory
• Interior Design Directory
• Naval Architect Directory
• Yachts for sale home
• Motor yachts
• Sailing yachts
• Explorer yachts
• Classic yachts
• Sale Broker Directory
• Charter Home
• Yachts for Charter
• Charter Destinations
• Charter Broker Directory
• Destinations Home
• Mediterranean
• South Pacific
• Rest of the World
• Boat Life Home
• Owners' Experiences
• Conservation and Philanthropy
• Interiors Suppliers
• Owners' Club
• Captains' Club
• BOAT Showcase
• Boat Presents
• Events Home
• World Superyacht Awards
• Superyacht Design Festival
• Design and Innovation Awards
• Young Designer of the Year Award
• Artistry and Craft Awards
• Explorer Yachts Summit
• Ocean Talks
• The Ocean Awards
• BOAT Connect
• Between the bays
• Golf Invitational
• BOATPro Home
• Superyacht Insight
• Global Order Book
• Premium Content
• Product Features
• Testimonials
• Pricing Plan
• Tenders & Equipment

Fair winds or stormy seas? What is the current state of the sailing yacht market?

Comprising just over 15 per cent of the total superyacht fleet, the sailing yacht industry stands at an impressive 1,880 yachts greater than 24 metres in length. But with the tide turning increasingly towards more sustainable forms of yachting, many speculate that a sailing yacht’s built-in eco advantage will cause a discernible rise in the number of sloops, schooners and even multihulls occupying the world’s oceans. Armed with the latest data, BOATPro investigates the current state of the sailing yacht market.

To continue reading this article...

Sign up to BOATPro Premium

Get access to BOATPro Premium content, the Global Order Book, exclusive superyacht industry data and insight, interviews with sector leaders as well as breaking news.

More about this yacht

From our partners.

No arrests yet after credit card skimmer found at Needler's Fresh Market in Richmond

RICHMOND, Ind. — On Aug. 28, a credit card skimmer was found at Needler's Fresh Market, the second known time this year one has been found at local businesses.

Seth Bumbalough, who shared an image of the scanner on Facebook, described the incident.

"I was going through the second to last register over at Needler's and about three or four people were in front of me," he said. "Then when it was my turn, I went to go scan some fruits and vegetables for our WIC (Women, Infants and Children) and noticed my card kept catching on it."

Because of his five and a half years of retail experience as a customer service manager at Walmart, Bumbalough said he could immediately tell that it was a skimming device.

"I just pulled it up directly from the button section, where you normally have your fingers hidden so people can't see your pin number. I pulled that straight up and underneath was, basically, interconnected electronics with a SIM card attached," he said.

After he notified and gave the skimmer to Needler's management team, Bumbalough said it was brought up to the store's security team, though he wasn't aware whether a police report had been filed.

Richmond Police Department Assistant Chief Adam Blanton said two suspects are being investigated, but as of publication, no arrests have been made.

"They're trying to recover video data in order to follow that back," Blanton said. "I know they're working with Needler's to get that done, but as of right now, the best that we have is it looks like two people involved."

Blanton added that the type of skimmer that was used is known as an "overlay skimmer," where it "attempts to try and make it to where you can't use a chip card," forcing customers to swipe, allowing the card to be read.

"The customer was rather astute and noticed that the employees looked at and immediately realized that something was not right with the skimmer scanner, notified us, and we came and collected the device," he said. "At this time, there is no knowledge that anyone's information has been stolen."

Bumbalough said the most common method of skimmers being placed in his experience is when one person distracts the cashier and another person puts it on, with the same method being used to retrieve it without anyone noticing.

According to him, skimmers are most commonly used at gas stations and fuel pumps, because besides video cameras, they are the least secured.

In February, as reported by Western Wayne News, a skimmer was also found on a diesel pump at a local gas station.

"I've seen it multiple times working at Walmart over in Bloomington," he said. "There was actually quite a few there that we would catch. This is the first one I've personally found, at least in Richmond."

Bumbalough's advice for shoppers is to "just keep a wary eye whenever going through checkouts, either self-check or regular registers. It doesn't take much for somebody to steal your information."

A request for comment from Needler's was forwarded to parent company Fresh Encounters Inc., which has not responded.

Tips for determining credit card skimmers

Blanton provided a list of tips for the community to keep in mind when identifying whether the card reader they are using has a skimmer:

1. Inspect the card reader

• Look for loose or unusual parts: Skimming devices are often attached to legitimate card readers. Wiggle the card reader or PIN pad slightly; if it feels loose, bulky, or appears misaligned, it could be a skimmer. 
• Check for extra components: Devices like false keypads or overlay covers can be added to steal your data. Compare the card reader to others in the same location to spot any differences.

2. Examine the surrounding area

• Look for hidden cameras: Fraudsters sometimes place small cameras above the PIN pad to capture your PIN. Before entering your code, inspect the area around the card reader, especially at ATMs and gas stations. 
• Be cautious of nearby attachments: Look for devices attached to the sides of the card reader or in close proximity that don’t belong. These could be wireless data transmitters. 

 3. Use contactless payment when possible  

• Opt for tap-to-pay: Many skimming devices can’t intercept contactless payments like NFC (near field communication) or mobile wallets. Use these options when available for added security.

 4. Monitor your accounts regularly

• Check bank statements frequently: Even if you’re careful, fraud can happen. Regularly check your account for unauthorized transactions, especially after using public or unfamiliar point-of-sale terminals. 
• Enable alerts: Set up instant notifications from your bank for transactions over a certain amount or for any international charges. 

 5. Report suspicious activity immediately 

• Notify the merchant and law enforcement: If you suspect a skimming device, inform the store management and contact your local police department. Quick reporting helps protect others from potential fraud.