A group of shipyards has committed to reinvesting in the regeneration and conservation of the oceans and is urging others to join them.
Abeking & Rasmussen, Ameryachts, Baglietto, Feadship, Gulf Craft, Heesen Yachts, Horizon Yachts, Lürssen Yachts, Oceanco, Royal Huisman, Sanlorenzo, Silveryachts, Southern Wind, Tankoa, Turquoise Yachts and Vitters are the first builders so far to agree to reinvest based on the gross tonnage (GT) of yachts they deliver.
“An innovative approach towards ecological transition is about acknowledging the ocean-climate nexus and the central role of marine ecosystem conservation for a healthy planet,” said Dr Vienna Eleuteri, Water Revolution Foundation’s initiator and sustainability scientist. “I am very pleased with this group of builders taking the lead in setting up structural reinvestment by the yachting sector to regenerate our Continue reading “Superyacht builders invest in ocean conservation”
Lloyd’s Register, the world’s largest yacht classification society, is calling on the industry to step up enforcement of safety at sea rules.
Rolls-Royce has announced it is set to launch a range of sustainable solutions for yachts, starting with IMO III propulsion for production yachts from spring 2022. Along with the company announcing the first mtu-IMO-III systems for series yachts for 2022, Rolls-Royce says its mtu hybrid solutions will be on the market as of 2023, and mtu yacht engines certified for sustainable fuels as of 2023.
Since January 2021, the IMO III nitrogen oxides (NOx) legislation that already applies to commercial vessels has been extended to marine leisure vessels above 24m load line length, which navigate in US waters as well as the North and Baltic Seas. Providing another step towards increased sustainability in the industry, the 2021 legislation is aimed at reducing emissions. To comply, affected yachts now need to be fitted with a Selective Catalytic Reduction (SCR) after-treatment system. This has led Volvo Penta to work on an optimized solution for its yacht customers both for IPS and traditional inboard shaft installations.
The lockdowns of the past 18 months or so have given us all time to think and readjust our priorities. Like never before yacht owners and potential purchasers have been giving thought to their work-life balance, the risks of travelling and where in the world can a vacation actually take place? All of this has had a knock-on effect on the market, making yacht insurers’ lives busier than expected.
The global superyacht industry started 2020 very well, with a high level of sales. However the Covid-19 pandemic hit the industry severely in the second quarter of the year. Afterwards, superyacht sales recovered rapidly, with the used yacht market in particular posting very impressive results in the third and fourth quarters of 2020. The positive momentum in the superyacht market has carried on into 2021 and we are expecting a very busy year in 2021 for superyacht sales, both new and used.
