Superyacht Soirée

Superyacht Australia, the peak body for the Australian superyacht industry, held its third annual Superyacht Soirée in Sydney on Saturday 26 February, 2022. While the weather wasn’t particularly kind, the rain didn’t dampen the spirits of those who attended the event. Perhaps it was the beautiful location, the food and drinks at hand or the chance to explore the amazing yachts on display. 

Trade-a-Boat caught up with David Good, CEO of Superyachts Australia, for his take on the waters they are navigating in the superyacht charter industry this year and looking into the future. 

“There’s two sides to the story. The not-so-good is that the international market dropped off significantly. 

“Looking domestically, many Australian superyacht owners that were typically based overseas and a handful of newly purchased boats, are now permanently based here. Combined with a handful of newly purchased yachts, this has resulted in our domestic fleet growing by sixty yachts here in Australia. For the local industry it means these yachts are based here year-round providing a healthy stimulus to our industry. The traditional season saw the boats here for three months, so the economic impact on charters, crew and suppliers is very positive.”

Is the infrastructure in place to cope with the demand?

“Infrastructure for luxury yachts here in Australia has been growing. The new berth at Southport Yacht Club in Queensland demonstrates where the industry is heading. Built by a local company, Superior Jetties, it's a testament to the engineering expertise and the technology available to the local industry, to be able to build something of that scale. 

“To give you an idea of the scale, we’re looking at a floating 163-metre-long pontoon which can take a vehicle, allowing for delivery straight to the vessel. So, there is growth in infrastructure to cope with the fact that boats are getting bigger.

“The largest Australian yacht is 74.5 metres and marinas are gearing themselves to be able to accommodate and service such vessels.”

How are the waters looking for 2022 and beyond?

“One of the fortunate aspects for the industry was a change to the charter rules which was passed by the government in December 2019. Initial estimates show it should grow the industry by 300%. The change was that foreign operated commercial vessels, (who were not able to operate commercially in Australia without importing the vessel and paying GST on the value of the vessel), are now allowed to operate under the Recreational Vessel Act. This allows them to come in, get a permit ($400) and operate commercially. The government makes GST from every charter they do. Considering there were no superyachts coming in previously, the GST revenue upswing is a positive. 

“The focus on Australia over the next 10 years in the lead up to the 2032 Olympic Games in Brisbane, means an increasing awareness of our industries’ capabilities and infrastructure to support its growth and demands. Simply, it's all blue sky and blue water ahead for the Superyacht Australia.”

Event Sponsor Links 

Benetti Yachts
The CEO Magazine 
Jones Bay Marina
Pantaenius
Fraser Yachts
Musson Jewellers
City Index 
Miele Professional
City of Gold Coast
Southport Yacht Club
Rivergate Marina & Shipyard
Belle Property Avalon
Ahoy Club
Fraser Yachts
d’Albora Marinas 
Azimut 
Ocean Alliance 
Tyrrell’s Wines 
Glenfiddich 
Manly Spirits Co 
Pacific Provisions
iAqua Watersports 
Maseratis 
Fliteboard
Standen Charter