2015 Market Intelligence. A comprehensive assessment of 2015

Transcription

1 2015 Market Intelligence review A comprehensive assessment of 2015 BY NORTHROP & JOHNSON

2 2015 Market Intelligence review A comprehensive assessment of 2015 BY NORTHROP & JOHNSON

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4 NORTHROP & JOHNSON 2015 Market Intelligence review It was a robust 2015! The brokerage, new construction and charter markets all were up Says Northrop & Johnson CEO Kevin Merrigan. And if the theme of 2014 was the end of the Great Recession in the yachting industry, then the mantra of 2015 was record-breaking strength and growth. CEO Kevin Merrigan THE AUTHORITY ON YACHTING SINCE 1949

5 0 4 SUPERYACHTS IN M 17.9KM $4.6 YACHTS LARGEST YACHT TOTAL LENGth BILLION TOTAL VALUE jan 2015 FEB 2015 MAR 2015 APR 2015 MAY 2015 jun 2015 jul 2015 AUG 2015 SEP 2015 OCT 2015 NOV 2015 DEC

6 SUPERYACHTS SALES VS. PREVIOUS two YEARS jan FEB MAR APR MAY jun jul AUG SEP OCT NOV DEC YACHTS

7 0 6 Market Intelligence review SALES BY LENGth 1.4% 70m+ Two-thousand-and-fifteen saw 510 yachts (of 78 feet or larger) sold on the global market between January and December; this is 28 more yachts than in 2014 and 92 more than in But more impressive than the number of yachts sold were the ticket prices of these yachts. In 2015, the total value sold was a record-breaking $4.6 billion dollars (this is based on the last asking price). This is $800 million more than in 2014 and $1.4 billion more than in Of the 510 yachts sold in 2015, May had the most with 62. The other months averaged between 35 and 48. Not only were more yachts sold at higher prices in 2015, but also the yachts sold were larger than any year before. Of the 510 yachts sold, 1.4 percent were in the 70-plus-meter range, 7.6 percent were in the 50-to-70-meter range, 14.4 percent were in the 40-to-50-meter range, 36.5 percent were in the 30-to-40-meter range and 40.1 percent were in the 24-to-30-meter range. The largest yacht sold in 2015 was the 139-meter Lurssen PROJECT REDWOOD, which is 24 meters larger than 2014 s 115-meter Lloyd Werft LUNA. In total, the combined length sold in 2015 was 17.9 kilometers. 14.4% 40-50m 7.6% 50-70m 40.1% 24-30m 36.5% 30-40m 24-30m 30-40m 40-50m 50-70m 70m+

8 0 7 THE 52 LARGEST YACHTS IN 2015 Proj ect R edwood 456 (139m) :: Lurssen :: 2019 Serene 439 (133.9m) :: Fincantieri :: 2011 Turama 382 (116.4m) :: Rauma Shipyard :: 1990/2004 Reborn 249 (76m) :: Amels :: 1999/2010 A mels (74m) :: Amels :: 2017 Stella Maris 237 (72.1m) :: Viareggio SuperYachts :: 2012 Amadeus 230 (70m) :: Amadeus Yachts :: 2007/2014 Aqua r ius 220 (67.1m) :: Amels :: 2007/2012 Feadship (61.5m) :: Feadship :: 2016 Lady Lau 213 (64.9m) :: Codecasa :: 2010/2015 Lionheart 208 (63.5m) :: Benetti :: 2006 Bistango 203 (62m) :: Benetti :: 2010

9 0 8 Marina 202 (62.54m) :: Mjellem and Karisen :: 1962/2006 Golden Age 200 (61m) :: Hakvoort :: 2015 Auror a 200 (60.9m) :: Lurssen :: 2004/2010 Event 199 (60.6m) :: Amels :: 2013 Areti 198 (60.4m) :: Trinity Yachts :: 2012 St. David 197 (60m) :: Benetti :: 2008/2012 Cloud (60m) :: CMN Yachts :: 2009/2013 Arkley 197 (60m) :: Lurssen :: 2009 Calixe 193 (58.8m) :: Feadship :: 1987/2007 M agna Gr eci a 192 (58.5m) :: Elsflether Werft :: 1986/2006 Lady Linda 187 (57m) :: Trinity Yachts :: 2012 Benetti FB (57m) :: Benetti :: 2018

10 0 9 A n n a e va 184 (56m) :: Benetti :: 2007 Emihar Chios 181 (55.2m) :: Sterling Yachts :: 1986/2012 Ocean Paradise 180 (55m) :: Benetti :: 2013 Amels (55m) :: Amels :: 2017 Obsession 180 (55m) :: Oceanfast :: 1991/2008 Step One 180 (55m) :: Amels :: 2012 Amels (55m) :: Amels :: 2017 Engelberg 180 (55m) :: Amels :: 2013 Mondomarine 54m 177 (54m) :: Mondo Marine :: 2017 O Rama 176 (53.5m) :: Golden Yachts :: 2009 A d -Va n tage 175 (53.2m) :: Damen :: 2012/2015 Matahari 173 (52.6m) :: CRN :: 1981/2011

11 1 0 R ed Dr agon 170 (51.7m) :: Alloy Yachts :: 2007/2010 RS Eden 167 (51m) :: Defoe Shipbuilding Co. :: 1930/2016 Project Starburst 165 (50.2m) :: Overmarine :: 2016 Project Alba 164 (50m) :: Heesen :: 2018 My Dream 164 (50m) :: Ortona Navi :: 2008/2014 T.J. Esperanza 164 (50m) :: Amels :: 1999/2015 Arianna 164 (50m) :: Delta Marine :: 2012 E v v i va 164 (50m) :: Westport :: 2007 Aquila 164 (50m) :: Benetti :: 2000/2012 Imagine 164 (50m) :: Trinity Yachts :: 2010 Mangusta 165/ (50m) :: Overmarine :: 2017 Endurance (50m) :: Rossi Navi :: 2017

12 1 1 Market Intelligence review SALES BY TYPE 0.02% Motor/Sailer Ninety-two-point-one percent of the yachts sold in 2015 were motor yachts; 7.7 percent were sailing yachts and.02 percent of yachts were in the motor/sailer category. 7.7% Sail As in 2014, Sunseeker continued to dominate as builder with most yachts sold in 2015 with 27. Benetti came in a close second with 26 yachts sold in 2015 and Azimut was third with 21. Westport, Hatteras, Leopard, Sanlorenzo, Overmarine, Amels, Broward, Horizon, Moonen, Custom Line, Ocean Alexander, Lazzara, Heesen, Burger, Ferretti, Feadship and Trinity Yachts rounded out the rest of the top 20 most sales by builders category. 92.1% Motor Sunseeker Benetti Azimut Westport Hatteras Leopard Amels Sanlorenzo Overmarine Broward Custom Line Horizon Moonen Ocean Alexander Lazzara Heesen Burger Ferretti Feadship Trinity Yachts Motor Sail Motor/Sailer

13 LARGEST YACHTS scheduled for delivery in 2016 With regard to new construction in 2015, it was sub-standard with the U.S. shipyards, says Sales Broker and New Construction Expert Joe Foggia. Christensen, Palmer Johnson and Trinity all had serious challenges and currently are working through them. However, new construction sales were up for Westport, Delta and Burger, leading to a relatively good year. The Italian shipyards seemed to maintain a good foothold in the new construction market these yards include Mondomarine and Benetti with several 70- to 100-meter projects, Foggia weighs in. The Dutch and German shipyards saw tremendous growth with regard to new construction projects in Some of these shipyards had as many as fifteen projects larger than 70 meters; many were larger than 100 meters. Turkish shipyards showed promising results in 2015 with many new projects due to their willingness to refine their image through quality improvements and innovations while creating good value. In the charter sector of the yachting industry, The 2015 summer season in the Med brought a level of charter activity that we hadn t seen since 2008, says Northrop & Johnson Charter Director Fiona Maureso. By mid-july, there was very little availability remaining, particularly for yachts larger than 130-feet (40m). Many clients who had become used to booking at the last minute were disappointed. At the same time, whilst charter rates remained static, we saw a significant move away from the discount mindset as the shift from buyer s market to seller s market took hold. And just what is to come for 2016? In the new construction sector, Foggia predicts 2016 will be better for the American shipyards. All of them should see more activity with Americans who buy American, he comments. Of course with the Euro being so low, we will continue to see Americans buying European-built yachts and I expect Turkish yards will gain more ground, provided their geo-political situations improve and general security concerns are kept to a minimum. Overall European shipyards likely will have a strong 2016 as they have weathered the past economic storms and minimized worker loss, maintaining their respective reputations of quality through long-time earned pedigree. Dilbar 515 (167m) :: Lurssen :: 2016 Sailing Yacht A 482 (147m) :: Nobiskrug :: 2016 Saffron 492 (150m) :: Mariotti Yachts :: 2016 Kleven/MT 5006 MKII ESV 381 (116m) :: Kleven :: 2016 Jubilee 361 (110m) :: Oceanco :: 2016 Mistral 348 (106.1m) :: Lurssen :: 2016

14 1 3 Solar 344 (105m) :: Oceanoco :: 2016 Rio 299 (91m) :: Lurssen :: 2016 And for charter season, Maureso predicts, These trends seem to be here to stay for Summer In the third quarter of 2015, we were already seeing a high level of charter enquiries for the Med season unprecedented in recent years in addition to a significant number of advance bookings. Charter rates also are starting to rise for the first time in many years. My advice to clients looking to book a charter in the Med this summer is to plan now if you re looking at a trip in July or August, and to consider the months of June or September if you want the best deals. I believe families are, and will continue, to look for customized, safe and fun opportunities to be together, says Northrop & Johnson CEO Kevin Merrigan. The advantage of yacht chartering and ownership is that everything is exactly how you like it and usually better than expected! I believe 2016 will continue to see more people take advantage of realistic prices for charters and purchase. The top shipyards are busy with projects, which also an excellent sign of a confident industry. Lionheart 295 (90m) :: Benetti :: 2016 Illusion 291 (88.8m) :: Pride Mega Yachts :: 2016 Oceanco Y (88.5m) :: Oceanco :: 2016 Amels 83 # (83m) :: Amels :: 2016

15 DATA ANALYSIS BY SUPERYACHT NETWORK. LEGAL Every effort has been made to ensure that the information contained within this proposal is as up-to-date and accurate as possible at the time of preparation; however, this cannot be guaranteed. All rights reserved. No part of this publication may be reproduced or used in any form without prior written permission from Northrop & Johnson. Northrop & Johnson 2015/2016.