Superyacht orders hit record as industry glides through the pandemic
Over 1,200 superyachts have been ordered, marking a jump of 25 per cent compared to last year as demand for luxury cruisers has surfed over the pandemic, according to reports.
The orders for superyachts hit a new record according to data in the latest edition of Boat International’s Global Order Book, and as reported in the Guardian.
Orders of smaller boats, measuring between 24m to 30m in length have driven the latest surge of orders, with over 400 commissions – a jump of 31 per cent compared to last year, with orders of superyachts closely following and up 28 per cent.
“The market’s never been busier,” one broker of the elite ships, told the newspaper. Will Christie said the pandemic had played a role in the growing demand. “Whereas in previous eras the people with enough money were too busy in the office to justify the purchase,” he explained, “these days they can work from anywhere.”
The rise in sales of superyachts has coincided with a growing number of billionaires able to splash out on the luxury cruisers.
Last month it was reported that there are now 2,755 billionaires according to Forbe’s 2021 list – representing a jump of 660 compared to 2020.
The news follows a dry period for the sector at the start of the pandemic, during which time one billionaire – US business magnate David Geffen – sparked outrage after making a social media post about being isolated on his 450-foot, five-storey yacht – reportedly the 10th largest in the world.
Noticeably fewer posts made by elite yacht owners surfaced during the pandemic. But with the recovery, it seems billionaires returned to the waters.
Chinese tech billionaire Jack Ma was spotted earlier this year venturing out to Mallorca on his new 88m cruise boat, reported to be worth around $200m.
According to industry publication the Superyacht Group, sales of boats measuring more than 30m, rose eight per cent in the first nine months of 2021, compared with the same period in 2019, before the pandemic.
As the UK returns to pandemic restrictions, prompted by the spread of the Covid-19 variant Omicron, the elite may find themselves spending more time in their luxury cruisers.