J226SUPER Donell
Sithole
Tawara Yacth
Brokers
We are a global leader in the superyacht industry
with an unrivalled reputation for service and
excellence. We specialise in the sale, charter,
management and new construction of some of the
largest yachts in the world. Our team of
dedicated staff all share a genuine passion for
being at sea and collectively possess a range of
experience and knowledge far beyond anyone
else in the industry. With a global network of
offices we have an international presence and are
able to meet the needs of clients across the world.
Market Report
Draft by:Donell
Sithole
Reports show that after a turbulent
few years the yachting industry is
finally on the road to recovery. A
total of 221 superyachts were sold in
the first half of this year which is 51
more than the same period last year,
and the highest figure for five years.
The chart below shows how the
market has improved over the past
three years.
Donell Sithole
J226SUPER Donell
Sithole
A superyacht is defined as a
commercially operated luxury yacht
(motor or sail powered), which is
professionally crewed and has a
loadline length of 24 metres and
above. A megayacht generally refers
to any yacht over 50 metres and a
gigayacht to vessels over 100 metres.
Luxury craft smaller than 12 metres
are commonly referred to as cabin
cruisers or a cruiser.
Global Analysis
For the first time since the global
recession the number of new build
projects is higher than that of the
previous year. This year sees 736
new yachts under construction or on
order which is a 6.2% increase on
previous years. The table below
shows the top 10 luxury yacht
building countries by the total length
of yachts on their order books:
Italy still leads the way in terms of
the number of projects and total
length. The UK market has grown
significantly in the last two years and
is set to overtake the US with eight
more new builds this year than the
US. Greece takes the tenth place
this year, pushing France out of the
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Sithole
list. This may be as a result of one
large French builder temporarily
stopping current and future
superyacht projects to focus its
strategy on commercial and naval
contracts.
Business Review
Our company had a strong first
quarter and spring has seen a
promising rush of activity in the
superyacht sales market. In six
weeks we sold five yachts with a total
asking price of over €40 million. The
yachts were purchased by buyers
from the US, UK and Germany; these
markets had proved quieter during
the downturn prior to 2013. There
was also a surge in charter bookings
for summer 2016 which is up by 15%
compared to last year. This is largely
due to the continued strength of
chartering in Europe and an
increasingly buoyant market in the
Americas where we have several
yachts to charter. Growing markets
for charter bookings include non-
traditional markets such as Mexico,
Brazil and South East Asia. There
are good signs that the economic
upturn is starting to take hold.
Donell Sithole
J226SUPER Donell
Sithole
This year we have had successful
representation at several boat shows
including the Miami Yacht &
Brokerage Show, the Dubai
International Boat Show, the Palm
Beach International Boat Show and
the Palma Superyacht Show.
Sales
Selling large luxury yachts demands
professional expertise and extensive
market knowledge. We are the world
leader in new and used yacht sales,
specialising in the sale and purchase
of luxury yachts over 24 metres. Our
team visits hundreds of yachts every
year and is in regular contact with
thousands of yacht owners. Our
advanced database allows us to bring
buyers and sellers together in today’s
global market. A summary of our
success so far this year follows.
The year started well when we
represented the buyer during the
sale of the spectacular 50 metre
motor yacht Bethany. In March we
sold the 30.5 metre motor yacht Luck
be a Lady which was built in 2001.
Holden Yachting represented the
buyer. This yacht had sleek exterior
styling and bright and spacious
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accommodation for up to 10 guests
in five staterooms. The interior had
benefited from a number of refits.
We followed this with the successful
sale of Jocelyn, a 33 metre sailing
yacht originally built by US
superyacht yard Palmer Johnson.
Jocelyn underwent a comprehensive
refit in 2010 which updated virtually
every system aboard, including
cosmetics, with new Awlgrip on all
surfaces, all new teak decks and an
exhaustive list of upgrades that cost
in excess of $2 million.
We also sold Daisy, a 60.55 metre
Feadship Royal Van Lent. She was
built in 1979 as Cooper II and later
renamed Sherman, before being
purchased by her current owners and
renamed Surrey Spree. When Surrey
Spree was launched in 1979 she was
the second largest Feadship ever
built. Over 30 years later, she still
remains an impressively large yacht
with plenty of space and timeless
design.
We more recently sold the 50 metre
Jacob of London, which received an
extensive €4 million refit this year.
With accommodation for 14 guests in
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a full beam owner’s stateroom and 6
further guest cabins, Jacob of London
has a proven track record as a highly
successful charter yacht.
Charters
A Tawara Yacht charter is the
ultimate holiday experience and the
perfect way to explore some of the
most beautiful and remote parts of
the world. It is hardly surprising that
our chartering business goes from
strength to strength. A fleet of over
90 yachts are managed by our expert
brokers. In the past year there has
been increased charter business
across the range but the bigger new
build yachts have outperformed the
smaller under 40 metre yachts,
which are still struggling for
meaningful charter business. There
is so much competition in this section
of the market that flexibility,
competitive pricing and excellent
crew are absolutely essential. The
market for chartering larger yachts
continues to grow as fewer people
are investing in ownership and, as a
result, more are wanting to charter.
Ownership’s loss is charter’s gain.
Conclusion
Donell Sithole
J226SUPER Donell
Sithole
It has been a strong start to the year
and we are seeing signals across the
market that the charter business will
continue to increase this year.
Customers want a wide choice of
yachts to choose from and we
provide some of the finest available
on the market today. With a number
of yacht sales, we are also seeing
positive signs within the brokerage
market. We have represented both
the buyer and seller in many of these
transactions, showing our strength in
finding buyers and representing the
interests of sellers. We look forward
to continued growth in the second
half of the year.
Donell Sithole
