Monday, December 31st, 2012
Hein Velema CEO of Fraser Yachts Gives His Year End Review of the Market
“The world of super yachts moves fast and you need to have your finger on the pulse in order to spot the opportunities before they pass you by,” says Hein Velema CEO of Fraser Yachts in his year end review of the market.
“Sales of second hand tonnage has continued to fall in the latter months of 2012, particularly in the larger yacht segment, which means that the new construction market is actually performing better than the brokerage market for this sector.”
“But while sales are down, the growing American market is posed ready to take advantage of Europe. We have seen an interesting shift in the brokerage market this year.
“Whilst the early start of the year saw sales continue at a similar steady level to the previous year, since April we have seen a dip in the volume of sales, especially in the larger segment.
“Both the Monaco Yacht Show and the Fort Lauderdale Boat Show were encouraging, however they did little to change the trend.”
“We are now seeing a growing demand in the United States and the expectation is that US buyers will take advantage of the weaker European market.”
“With new yachts being more popular than used and shipyards having spare capacity prices have gone down in the new construction segment, but not as much as in the brokerage market.
“Nevertheless, in the over 40 metre sector more new yachts were sold in 2012 than second hand yachts.”
“It is clear that clients value new yachts more highly than used yachts. Since full capacity has not been reached in many yards there are still opportunities to order a new yacht with a good delivery time for a competitive price.”