2024 Charter trends: Key insights from the Monaco Yacht Show Market Report

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Welcome to Yacht Charter Market, the weekly newsletter dedicated to the world of yacht charter.

In today’s newsletter:

• Top Story: Charter market insights from the 2024 Monaco Yacht Show Market Report

• Charter updates: Worth Avenue Yachts, Northrop & Johnson, Hill Robinson, Ocean Independence, and Arcon Yachts

• Charter photo: Sunset sailing at the Newport Boat Show 🌅

• Destination spotlight: Enter a world of wellness in Indonesia ☀️

• Post of the week: IYC’s 2024 Monaco Yacht Show lineup 📸

TOP STORY

Charter trends: Key insights from the 2024  Monaco Yacht Show Market Report

SuperYacht Times and SuperYacht iQ have collaborated with the Monaco Yacht Show to produce the Monaco Yacht Show Market Report 2024. Released this week, it provides insights into the current superyacht charter market, including trends from this year’s fleet, and developments in new-build and second-hand markets. Although precise market numbers are not tracked, feedback from charter brokers and industry experts highlights significant shifts in the superyacht charter market as 2024 progresses.

A mixed picture for charter booking trends

A key observation since the launch of this dedicated weekly newsletter in February, noted in the 2024 report is the increase in "last-minute availability" emails, which began appearing more frequently from late 2022 and continued into 2023. This indicates a growing number of yachts available for short-notice charters. Industry estimates suggest that nearly one-third of yachts over 30 metres – approximately 2,000 vessels – are currently available for charter.

According to the report, charter bookings for 2024 present a mixed picture. Overall, bookings are slightly ahead of 2023, aligning more closely with 2022, which was one of the busiest years in recent history. However, this trend is not uniform across the industry, with some major players reporting a decrease in bookings compared to 2023. Additionally, bookings for May and June 2024 have been slower than in the same period last year.

Looking ahead, significant interest has been noted from potential clients for the remainder of 2024, particularly for the Christmas season, although many are hesitating to finalise bookings.

Larger yachts and increasing availability

The availability of large yachts, especially those over 70 metres, has increased by about 30 percent compared to 2022, translating to around a dozen additional vessels. Overall, the fleet of charter yachts over 30 metres has grown by approximately 17 percent since 2022. This growth reflects a broader expansion in the total fleet of operating yachts over 30 metres, which has increased by about 450 yachts, representing an 8 percent rise since mid-2022.

These trends suggest a dynamic and evolving market as 2024 unfolds, with increased availability offering more options for potential charter clients.

Yacht and ownership trends to watch

On one hand, a notable trend in the superyacht sales market is that first-time yacht owners who bought their yachts in 2021/2022 may be inclined to sell and return to chartering. On the other hand, there’s an increasing expectation that yacht owners will seek to reduce ownership costs by choosing yachts that can be easily adapted for charter purposes

This can be noted with yacht layout trends including flexible accommodations, larger VIP staterooms near the master suite, or reimagining interior layouts with dedicated rooms such as cinemas, rather than multiple saloons.

A trend of optimising exterior spaces and improving water access, reflects the ever-increasing popularity of wellness-related features and activities, as well as water toys. These trends are further compounded by the increasing importance of social media, with photogenic or ‘Instagrammable’ features and activities gaining popularity.

Lastly, explorer yachts and pocket explorers, such as those built by Cantiere delle Marche, are gaining traction in yacht sales. Designed for rugged environments and long-range travel, they offer exclusive adventures to less-accessible locations. While still a niche market, their rise reflects a growing demand for personalised, off-the-beaten-path experiences in luxury yachting.

LATEST CHARTER UPDATES

MYS 2024: Hill Robinson will be showcasing the 78.43m Amaryllis at the upcomming Monaco Yacht Show, on Quai des États Unis, E12. Delivered by by Abeking & Rasmussen in 2011, the yacht was refit in 2019. She is now available for charter in the Caribbean this winter.

• Rates starting at €770,000 per week plus expenses

• 12 guests in 6 staterooms

• Contact Romina Rastelli:

  • +33 (0) 6 10 61 80 01

  • [email protected]

Destination: 40.16m Mirage IV is avalible for charter in Croatia, Montenegro, Albania, Greece, Italy (on request) with Arcon Yachts. Delivered by Princess in 2017, the yacht was refit this year.

• 12 guests in 6 staterooms, with 7 crew

• Rates: €175,000 to €185,000 per week plus expenses

• Contact:

  • +377 97 98 32 10

  • [email protected]

Deals and Discounts: Hill Robinson is offering a special rate and broker incentives for charters onboard 31.62m Sounion II this month and next. Delivered by Benetti 1969 the yacht was refit in 2023, and can host 10 guests in 4 staterooms.

• Special rate: €49,500 per week plus expenses (instead of €55,000)

• Available for charter in Italian Riviera (Sept), French Riviera (Oct)

• Broker incentive for September and October bookings:

  • 10% discount

  • 5% extra commission

• Contact Camille Medina:

  • +33 632 48 36 03

  • [email protected]

Destination: 55m Revelry is available for charter in Central America and the Carribean with Northrop & Johnson. Delivered by Amels in 2012 the yacht was refit in 2022 and can host 12 guests in 8 staterooms, with 12 crew.

• Winter rates (Leeward Islands):

  • $280,000 to $325,000 per week plus expenses

• Summer rates (Central America):

  • $280,000 to $325,000 per week plus expenses

• Contact Nicole Terry:

  • +33 6 76 58 11 78

  • [email protected]

Deals and Discounts: Ocean Independence is offering a 25% discount for charters booked in October (Balearic Islands) aboard 33m Custom Line yacht Acqua.

• 11 guests in 5 staterooms, 6 crew

• Rates: €120,000 to €140,000 per week

• Availability:

  • Booked: 24 - 28 September (Palma to Palma)

  • Available: 30 September onwards (Balearics)

• Contact Helene Delstanche:

  • [email protected]

  • +44 7712 881481

Deals and Discounts: Northrop & Johnson is offering a discount on charters aboard 42.2m Moka, between 25 September and 2 October 2024.

• Location: Ibiza and the Balearic Islands

  • Embark in Port Adriano (Mallorca) or in Ibiza.

  • Disembarkation must be Port Adriano, Mallorca.

• Special rate: €149,000 per week plus expenses (regular rates range from €180,000 to €205,000 per week plus expenses)

• 10 guests, 5 cabins, 9 crew

• Contact: Natascha Weber:

  • [email protected]

 Destination: 61m Top Five II is available for charter in the Caribbean this Christmas with Worth Avenue Yachts. Delivered by Royal Hakvoort in 2021, the yacht can host 12 guests in 6 staterooms, with 19 crew.

• Bahamas/Caribbean rates: $550,000 to $600,000 per week plus expenses

• Contact Seldon Jones:

  • [email protected]

Deals and Discounts: Northrop & Johnson is offering 9 nights of charter aboard 26.78m Azimut yacht Marea La Nautica, for the price of 7 in the Bahamas this December (excluding holidays).

• Cruising regions: Bahamas (Out Islands, Abacos, Exumas, Nassau, Eleuthera)

• 10 guests, 5 cabins, 4 crew

• Winter rates: $80,000 to $90,000 per week plus expenses

• Contact: Holly Riemer

  • +1 954 662 3182

  • [email protected]

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PHOTO OF THE WEEK

 Sunset sailing at the Newport Boat Show 🌅

DESTINATION SPOTLIGHT

Indonesia: enter a world of wellness

Indonesia, the world’s largest archipelago, offers superyacht guests stunning natural beauty, rich culture, and unique experiences across over 17,000 islands. With pristine beaches and incredible underwater biodiversity, it's a premier Southeast Asian yachting destination.

From Bali’s popular marinas to the remote Raja Ampat islands, Indonesia offers diverse charter experiences blending adventure, luxury, and relaxation. The best yachting season is during the dry months (May-September), with pleasant conditions also in April and October. The wet season (November-March) brings heavier rains, particularly in the west.

Unparalleled biodiversity

Komodo National Park, a UNESCO World Heritage site, offers rugged volcanic landscapes, secluded beaches, and world-class diving in its marine park. Home to the Komodo dragon, it’s a must-visit for adventurers. For ultimate solitude, the remote Raja Ampat archipelago is a paradise. A day trip to Lombok offers a trek to Senaru’s waterfalls at the base of Mount Rinjani, Indonesia's second-highest volcano.

Indonesia is a nature lover's haven, with coral reefs hosting over 3,000 fish species and 600 coral species. Guests may encounter dolphins, sea turtles, manta rays, and even migrating whales.

Culture and crafts

Sasak villages offer a chance to experience local craftsmanship, including traditional weaving and pottery-making techniques passed down through generations. Ubud, in Bali, is a hub for artisans creating exquisite batik textiles, wood carvings, and silver jewellery. Many workshops offer hands-on experiences, allowing guests to create their own keepsakes.

Bali stands out culturally in Indonesia as a predominantly Hindu island, offering a distinct spiritual atmosphere with its temples and rituals, in contrast to the rest of the country, which is predominantly Muslim. This unique blend of Hindu traditions and vibrant ceremonies sets Bali apart as a fascinating cultural destination.

In Bali, charter guests can indulge in traditional Balinese dance performances at temple sites like Uluwatu or Ubud, offering a glimpse into the island’s spiritual and artistic traditions.

Indonesia’s cuisine reflects its diversity, with dishes like nasi goreng (fried rice), satay (grilled meat skewers), and rendang (slow-cooked beef curry). Tropical fruit juices and arak, a local spirit, are popular drinks. For fine dining, Mozaic in Ubud blends Indonesian ingredients with French techniques. For authentic seafood, Warung Mak Beng in Sanur is known for its fresh fish soup and spicy sambal.

A world of wellness

Indonesia, particularly Bali, is a wellness haven, offering guests a blend of ancient healing practices and modern luxury. Balinese massages, known for their use of gentle stretches, acupressure, and aromatherapy, are available at world-class spas like Fivelements and Como Shambhala in Ubud. Traditional treatments such as the Javanese lulur, an exfoliating body ritual, and jamu, a herbal tonic made from turmeric and ginger, offer rejuvenation and detoxification.

For those seeking active wellness, Bali and Lombok are renowned for yoga and meditation retreats, often set in tranquil beachside or jungle locations. Guests can also experience sound healing, an ancient practice using harmonic vibrations to reduce stress and balance energy. Indonesia’s holistic wellness offerings provide the perfect complement to a relaxing superyacht charter.

POST OF THE WEEK

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