17 ⭢ 18 November
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Packed agenda at The Superyacht Forum examines key sector issues

The content programme for the first day of The Superyacht Forum has concluded with delegates participating in three keynotes and a wide-ranging set of panel discussions covering vital sector topics. 
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Nearly 900 attendees are now enjoying a two-hours of networking drinks while taking in all that was learned and discussed during an intensive, rewarding agenda at the RAI Amsterdam Auditorium.

Interactive involvement

The Superyacht Forum’s panel sessions this year are adapted to take advantage of the wisdom of crowds, with 45 minutes set for each session, followed by 30 minutes interaction with the audience using carefully curated questions as prompts and live voting. Feedback from these sessions will be used in future work within the topics concerned, adding extra value for speakers and delegates. 
Many of the subjects tackled in today’s agenda covered areas of vital interest, such as how to get HVO fuel into play now to drive an estimated well-to-wake saving up to 90% of CO2 across the global superyacht fleet. Antifouling also featured with a look at latest more sustainable technologies and consideration of how to control the migration of invasive species when superyachts relocate across regions.

Another way to improve sustainability is to seek common ground in construction and operational regulation and protocols. Delegates at the Towards a Unified Yacht Code panel learned about a gap analysis undertaken between the large yacht codes from REG Group, Malta and the Republic of Marshall Islands. It demonstrated three codes were substantially different only for a few technical requirements; often two of the codes have similarities whilst the third one is different. Otherwise the three codes are technically equivalent, giving cause for belief that harmonisation should be possible and most likely preferable.

Next gen ownership

Timothy Hamilton of Lurssen Yachts Americas moderated a panel featuring Victoria Blackburn of JTC private Office, Moira Boyle of Altrata and owners’ rep Damian Martin looking at how the industry will need to adapt to the changing demographics and needs of its owners. 

Moile set the scene by outlining research forecasting growth in the ultra-high net wealth population from 510,000 to 676,000 individuals by 2030. Average age will drop with baby boomers shrinking from 44% to 47% and GenX growing from 25% to 38%, bringing corresponding changes to market demand in the charter, refit and new build markets.

The panellists identified several trends flowing from these changes. There is more informality and a desire to be more hands on by younger generations. This might mean them dealing personally with their own enquiries and requests rather than through assistants. On board that is also leading to wishing for casual dining and easier personal access to the galley. There’s less patience for protracted negotiations with unrealistic numbers. Poor engagement is commonplace with long form communication like complex emails and PDFs. Niche marketing approaches that engage often work best. Long-winded charter application processes are recognised as a high barrier to access. 

Younger customers are more focused on the activities that the boat can enable them to enjoy. Popular superyachting destinations are less important; out of the way places delivering solace are more important. Vessel design is changing accordingly but more engagement is needed with the client in the build phase. Sustainability is not currently the highest charitable interest of superyacht owners; education of their children is still the biggest priority. Although it is recognised that owners and charterers appreciate the ability to understand and communicate messages regarding the positive impacts of superyachting on the economy and community.

As for future potential for finding next generation customers outside of the prime markets of the US and Europe, the delegates in the room identified the Middle East as being most promising by quite a margin, with Asia the next most interesting region. The audience believed time to delivery was the highest concern of those buying and indicated more could be done to meet the needs of next gen customers with the design of yachts built today.  

Collaboration is key

The Unlocking Innovation panel explored how collaborative approaches across the sector were going to be essential to make the best progress in yacht development. The session featured a case study on the Zero JIP engine room of the future project, overseen by Dutch research body MARIN. This harnessed the financial and intellectual resources of 21 major companies to create solutions that meet future operational, legislative and sustainability objectives. The panel went on to explore the pros and cons of different collaborative structures and emphasised the need for the superyacht sector’s culture to adapt for an appropriately open approach over the years ahead.

Collaboration with yacht owners is another critical requirement in the pathway to reducing environmental impact. In the panel looking at Justifying Sustainable Refits and return on investment, delegates were able to consider likely savings in energy requirements ranging from 5-10% reduction for a refit and 25-35% for a major refit to 40-50% for a complete rebuild. The discussion also ranged across the different up-front and operational cost impacts of upgrading various components of the yacht, from glass and decking to propulsion and energy systems.

Nuclear or wind?

One of the most boundary stretching panels of the day explored whether nuclear-powered superyachts are a realistic concept for emission free, autonomous operation. Moderator Karlijn van de Kamp of Maritime and Offshore NL led a team with expertise spanning engineering, regulation and classification services who explored challenges for use on superyachts including legislation, reactor shielding, weight and space management, crew training and protocols and – ultimately – reactor replacement or decommissioning. The starting point was a track record of nearly seven decades of use for pressurised water reactors in submarines and surface ships, with 700 reactors having been deployed in the maritime environment. The panel outlined a timeline to place nuclear power into service with a superyacht by 2030 and a target of achieving an international regulatory framework two years later.  

Looking at a less controversial source of energy, the Driven by Wind session explored some of the technologies making sailing more accessible and appealing to superyachts. Topics examined included the growing development of wing sails for commercial ships, more easily handled sail forms for yachts and the potential for using kites on motor yachts, both to provide propulsion and generation of electricity.

Hardware versus heartware

The closing keynote drew attention back to human factors and the huge importance of quality service onboard as an intrinsic part of the luxury experience. Dagmar Symes is a hospitality executive who currently serves as CEO of Al Hamra Oasis Village in Riyadh, Saudi Arabia. She made an impassioned plea for training and care for the welfare of superyacht crews to be placed at the very top of the industry’s agenda. 

Symes observed that hardware innovation often outpaces human infrastructure, creating a critical gap: “Training is often technical and not emotional – we teach what to do, not how to make someone feel. People development should go beyond product knowledge and embrace emotional intelligence, soft skills and cultural sensitivities. Training isn’t a cost it’s an essential part of the luxury itself. Luxury retail brands excel because they don’t ask, they remember. Luxury experiences know to read the room and adjust.”

Symes commented that the latest generations of owners are less worried about status and care more about substance and purpose. This is an opportunity to elevate the industry’s care for superyacht crew with corresponding benefits for them and for the customer experience. Symes asserted: “Mental health is not a weakness of the industry – it is the wellness of it. The crew that doesn’t feel valued will never deliver value. Perfection without purpose becomes pressure. If we fail to care for the very people who bring yachts to life, we risk eroding the essence of luxury itself.
“The future of luxury is high tech and high touch. In the end yachts are remembered for how they make people feel, not what they look like. Let us measure success not in metres but in meaning.”

Supporting partners

The Superyacht Forum would not happen without support from key partners who operate across the sector, including:
Founding partner – The Superyacht Group
Platinum partner – AkzoNobel, Lürssen and MTU (a Rolls Royce solution)
Gold partner – Bond Support Services, Cayman Registry, Volvo Penta, YachtEye
Bronze partner – Lateral Naval Architects, RINA Maxima, Wright Maritime Group
Media partner – Boat International, Superyacht Times, The Superyacht Group
You can read more about our partners here – thesuperyachtforum.com/partners

Contributing organisations

The Superyacht Forum content is guided by the Superyacht Content Board, a collective of experts drawn from leading industry organisations:
  • IAMI (International Association of Maritime Institutions)
  • ICOMIA (International Council of Marine Industry Associations)
  • IYBA (International Yacht Brokers Association)
  • MYBA (The Worldwide Yachting Association)
  • PYA (Professional Yachting Association)
  • Superyacht Alliance
  • SYBAss (Superyacht Builders Association)

To stay up to date with The Superyacht Forum, please visit thesuperyachtforum.com or e-mail superyachtforum@rai.nl
 

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