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Thailand’s coastline spans between 2,600 and 3,200-kilometres across the Gulf of Thailand and the Andaman Sea, encompassing more than 1,400 islands and a varied cruising landscape. Over the past decade, the country has progressively refined its regulatory framework to facilitate charter activity by foreign-flagged, commercially registered yachts, broadening formal access to its waters.<img src="https://photo-assets.superyachttimes.com/photo/309922/image/large-b6012242ef9683839a2750175fa0b4b9.jpg" data-gid="gid://syiq/Photo/309922">The latest amendment reduces the minimum size threshold for foreign-flagged yachts eligible to apply for a Thai Charter Licence from 30-metres to 24-metres. Under the revised framework, foreign-flagged vessels measuring 24-metres and above, carrying no more than 12 passengers, may apply to conduct commercial charters in Thai waters, subject to the established licensing and compliance requirements.While the reduction to 24-metres broadens eligibility, the central issue is whether it will translate into a meaningful expansion of charter activity in Thailand, or whether the change alone is insufficient to deliver sustained growth.<img src="https://photo-assets.superyachttimes.com/photo/384549/image/large-a95d35cb2023ed9775f68b4698c4a8d5.jpeg" data-gid="gid://syiq/Photo/384549">The evolution of Thailand’s charter frameworkIndustry reporting indicates that a formal charter licence framework for foreign-flagged yachts was introduced in 2015 by Thailand’s Ministry of Transport and Marine Department, permitting vessels over 30-metres to conduct commercial charters in Thai waters under licence, subject to defined administrative and fiscal requirements.Yachts below that threshold, however, were generally required to operate under the Thai flag in order to charter commercially. This meant importing the vessel into Thailand and paying VAT, as well as establishing a Thai-registered company with majority local ownership. For many foreign owners, the combined implications of tax exposure, ownership restructuring and administrative complexity significantly reduced the commercial appeal of reflagging in Thailand.<img src="https://photo-assets.superyachttimes.com/photo/386722/image/large-bc113a2da0b86037e1156308ca1e29e0.jpeg" data-gid="gid://syiq/Photo/386722">How the 24-metre threshold may reshape Thailand’s charter marketThe reduction in the minimum size threshold is expected to increase the number of yachts available for charter in Thailand. According to Gordon Fernandes, Co-founder of <a data-gid="gid://syiq/Company/5448" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia Pacific Superyachts (Company)">Asia Pacific Superyachts</a> in Thailand, the amendment is likely to expand the pool of commercially registered foreign-flagged vessels active in the Thai charter market. Under the previous framework, he explains, “there were very few yachts chartering here because the legalities meant that you had to have a Thai flag.” For many international owners, that route was commercially unattractive. As he puts it, “it wasn’t really viable for most owners,” limiting broader participation from foreign-flagged vessels.Lies Sol, charter broker at <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a>, offers a similar assessment. She notes that some yachts already present in the region had been “waiting for this reduction because they’re just under 30-metres” and can now formally enter the charter market.<img src="https://photo-assets.superyachttimes.com/photo/301830/image/large-088afb15ef1b505a1ddf418bad41bb23.jpg" data-gid="gid://syiq/Photo/301830">Sol also considers the wider market implications of the reform, expecting the revised threshold to attract “new charter yachts to Thailand, particularly from markets such as Hong Kong and Singapore, where cruising grounds are more limited.” In her view, the expanded eligibility may encourage some of these vessels to base themselves in Thailand for a season.The likely result is increased competition, which she argues could accelerate improvements in overall fleet quality. “More competition means yacht owners have to invest in their yachts,” she says, highlighting the need to modernise interiors, expand toy inventories and remain aligned with evolving client expectations. In a more competitive environment, she adds, owners must remain responsive to market demand. “If you’re in the business of charter, you probably are doing well to look at what the market is demanding nowadays.”<img src="https://photo-assets.superyachttimes.com/photo/386719/image/large-a8d9b52101aeb49d67a6668153730ff4.png" data-gid="gid://syiq/Photo/386719">Beyond fleet participation and competitive dynamics, expanded charter activity could also reinforce Thailand’s charter infrastructure. Fernandes notes that the country’s extended seasonal window may support recurring annual basing, strengthening marina occupancy and associated services. Sol similarly emphasises that charter yachts generate consistent operational demand across fuel supply, provisioning and technical support. A yacht, she observes, “is not just coming here and sitting in the marina,” pointing to the broader service ecosystem that enables sustained charter operations.<img src="https://photo-assets.superyachttimes.com/photo/298289/image/large-00266ed0fb47d4a5c4616ea37ab2406f.jpg" data-gid="gid://syiq/Photo/298289">Outlook for Thailand’s charter marketWhile the reduction to 24-metres removes a significant regulatory barrier, both Fernandes and Sol suggest that its full impact will unfold progressively rather than immediately. Fernandes describes the amendment as “great for us,” arguing that it will “fuel yachts that want to come here for the season every year.” In his view, Thailand’s ability to combine established hospitality infrastructure in Phuket with more remote cruising grounds in the south gives the destination “the best of both worlds,” reinforcing its competitiveness within the winter charter circuit.<img src="https://photo-assets.superyachttimes.com/photo/298294/image/large-95068cd5c5dd989c1ca804348ff29656.jpg" data-gid="gid://syiq/Photo/298294">Sol, however, places the reform within a broader global context. Thailand’s season coincides directly with the Caribbean, where booking volumes and charter revenues remain considerably higher. Although she expects additional yachts to enter the market over time, she cautions that repositioning decisions are unlikely to shift in the short term. “I think it will take some time,” she says, noting that vessels traditionally based in the Caribbean may be slow to alter established cruising patterns.<img src="https://photo-assets.superyachttimes.com/photo/386718/image/large-42480eea607805779c7331853b50ab97.jpeg" data-gid="gid://syiq/Photo/386718">For Sol, the more decisive catalyst for sustained growth in Thailand’s charter market lies elsewhere. “I think that will really take off once crew visas are linked to the yacht’s stay permissions,” she says, referring to the current disconnect between yacht stay permissions and crew immigration rules. While foreign-flagged yachts can remain in Thai waters for extended periods, crew members are generally required to renew visas at shorter intervals, often every 30 days. In her view, linking crew visas either to the yacht’s extended stay or to the one-year charter licence would reduce administrative friction and make long-term basing more commercially viable. Without that alignment, she suggests, expansion may remain measured rather than transformative.The 24-metre amendment therefore marks a meaningful step in broadening Thailand’s charter framework. Whether it proves to be a decisive turning point for charter activity in Thailand will depend less on the revised size threshold and more on the alignment of immigration policy, licensing conditions and regional competitiveness.<img src="https://photo-assets.superyachttimes.com/photo/386528/image/large-ac18974277bb47126ecdd41da712a4c7.jpg" data-gid="gid://syiq/Photo/386528">Asia-Pacific Superyacht Summit 2026Following two successful editions in Hong Kong, the <a data-gid="gid://syiq/Event/325" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia-Pacific Superyacht Summit - 2026 - 3rd Edition">Asia-Pacific Superyacht Summit</a> will move to Japan in 2026. The <a data-gid="gid://syiq/Event/325" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia-Pacific Superyacht Summit - 2026 - 3rd Edition">event</a> will take place on Thursday 7 and Friday 8 May in Kobe, hosted at Hotel La Suite Kobe Oceans Garden.As Japan continues to open its market to international superyacht traffic and expand its marina and service infrastructure, the summit will examine how the country is positioning itself within the wider Asia-Pacific yachting landscape. Discussions will also address broader regulatory, operational and investment trends shaping the region.The <a data-gid="gid://syiq/Event/325" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia-Pacific Superyacht Summit - 2026 - 3rd Edition">Asia-Pacific Superyacht Summit</a> serves as a dedicated forum for analysing market developments and facilitating dialogue among leading stakeholders from across the superyacht industry.<img src="https://photo-assets.superyachttimes.com/photo/370701/image/large-fccdf0ce93277bda47184d5f87855515.jpg" data-gid="gid://syiq/Photo/370701">Read:&nbsp;<a data-gid="gid://syiq/Article/65287" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia-Pacific Superyacht Summit 2026 expands programme with new speakers (2026-02-20 12:15:00 +0100)">Asia-Pacific Superyacht Summit 2026 expands programme with new speakers</a>Early Bird tickets are available <a href="https://www.eventbrite.nl/e/asia-pacific-superyacht-summit-2026-tickets-1979724982716?aff=oddtdtcreator" target="_blank">here</a>.

How Thailand’s 24m charter reform could reshape its charter market

Thailand’s 24-metre charter reform expands eligibility for foreign-flagged yachts, but will it drive sustained growth in the country’s charter market?

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Construction of a new marina in Port City Colombo, Sri Lanka is underway, with completion of the facility slated for 2027. Spanning 33,776-square-metres of land, the Colombo City Marina will boast a 243 berthing capacity for mid-to-super-sized yachts. The marina will also offer full-service facilities, such as crew amenities, provisioning, maintenance and a yacht club, which will be accessible for yacht owners.<img src="https://photo-assets.superyachttimes.com/photo/345567/image/large-015f0e68d45d2117da09e255727e486b.jpg" data-gid="gid://syiq/Photo/345567">“With a total investment of $120 million, the Marina Development is slated for completion by 2027,” according to Kapila Jayawardena, Group Managing Director/CEO LOLC Holdings PLC.<img src="https://photo-assets.superyachttimes.com/photo/345564/image/large-2216705ad4065de840d317b3d61f6722.jpg" data-gid="gid://syiq/Photo/345564" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Port City Colombo recently celebrated the groundbreaking ceremony of the Marina Development at Port City Colombo on 10 January 2025. Chief Guest, Vijitha Herath, Minister of Foreign Affairs, Foreign Employment &amp; Tourism were in attendance at the ceremony. <img src="https://photo-assets.superyachttimes.com/photo/345566/image/large-067d9dfeb8e2de067b59c86e91f78f2d.jpg" data-gid="gid://syiq/Photo/345566">Due to become the only full-service marina position between Dubai and Phuket, this luxury marina development is expected to strengthen Sri Lanka’s role in South Asia’s yachting market.“The Colombo City Marina, is designed to become Sri Lanka’s new luxury maritime destination. Located at the crossroads of international maritime routes, the new marina ideally positions Sri Lanka to become a hub for luxury yachting”, stated Priyantha Perera of <a data-gid="gid://syiq/Company/5448" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia Pacific Superyachts (Company)">Asia Pacific Superyachts</a> Sri Lanka.Within Port City Colombo, the marina will house as many as 250 mid-sized vessels, alongside hotels, gourmet dining, retail outlets, entertainment centers, and recreational areas. <img src="https://photo-assets.superyachttimes.com/photo/345565/image/large-c67d95952c8373c9c03d3ad5666552a7.jpg" data-gid="gid://syiq/Photo/345565">“As the first developer in Colombo Port City, Browns Investments PLC takes immense pride in spearheading this groundbreaking initiative. This project aligns seamlessly with BI’s commitment to pioneering ventures that transform industries and contribute to the nation’s economic progress,” commented Ishara Nanayakkara, Chairman, Brown and Company PLC and Deputy Chairman, LOLC Holdings PLC.“This project positions Sri Lanka to become a leading destination for luxury yachting in South Asia, attracting high-net-worth individuals and making a substantial contribution to the nation’s economic growth. The Colombo Port City Economic Commission is proud to support this project and eagerly anticipates witnessing its transformative impact on Sri Lanka’s tourism and maritime sectors. We are confident that this development will significantly contribute to establishing Colombo Port City as a regional business hub,” concluded Harsha Amarasekera, Chairman of the Colombo Port City Economic Commission.<img src="https://photo-assets.superyachttimes.com/photo/314018/image/large-73b4576c75aa7037bea707f8d92dd7c2.jpg" data-gid="gid://syiq/Photo/314018">Asia-Pacific Superyacht Summit 2025As the region continues to grow, SuperYacht Times will be hosting the second edition of the <a href="https://sya.superyachttimes.com/events/asia-pacific-superyacht-summit" target="_blank">Asia-Pacific Superyacht Summit</a> in May 2025. The <a href="https://sya.superyachttimes.com/events/asia-pacific-superyacht-summit" target="_blank">Asia-Pacific Superyacht Summit</a> is a two-day annual summit that seeks to inform, assist and advise yachting clients and related interested parties, with the goal to develop the region as a superyacht market and cruising destination.<a href="https://sya.superyachttimes.com/photos/314018?containing_resource_id=62358&containing_resource_type=Article" target="_blank">Photo: Tim O'Rourke</a>The program focuses on panelists and keynote speakers to discuss some of the most prevalent issues of the yachting industry, showcasing some of the most innovative new technologies and working towards an increased presence for the entire Asia-Pacific region for the industry.The next edition in 2025 will again be held in Hong Kong on the 7th and 8th May.

Colombo City Marina in Sri Lanka due for completion in 2027

Construction of a Colombo City Marina in Sri Lanka is underway, with completion of the facility slated for 2027. 


PT Marina Development Indonesia (MDI) and Pelindo have signed a contract to develop Indonesia’s first international-standard full-service yacht marina. This newly upgraded marina is situated in the Bali Maritime Tourism Hub (BMTH) in Benoa, 15 minutes away from the airport.&nbsp;The marina is set to house 180 wet berths, with space for over 50 superyachts up to 90-metres in length. The project will boast a modern yacht service area fitted with a travel lift that can handle as much as 200 tons and a high-quality fuelling station.&nbsp;Construction of the marina is currently underway, and is slated to welcome the first yachts to its new dock in July 2025. By mid-2026, full yacht capacity is scheduled to be in place. Today, the marina contains a temporary buoy mooring system for accommodating 30 yachts under 17-metres. <img src="https://photo-assets.superyachttimes.com/photo/332517/image/large-bb5c602a7da769a80ffe5de4b09bffd8.jpg" data-gid="gid://syiq/Photo/332517">“Indonesia deserves a first-class marina that reflects its status as the new yachting paradise of the world,” Ulf Backlund, President Director of Marina Development Indonesia, commented. “Indonesia’s distinctive location, safely positioned outside hurricane and typhoon paths, combined with its 17,000 islands, spectacular diving locations, diverse languages, cultures, and favourable weather all year long, makes Indonesia the ideal location for such a development.”“This marina will attract global yachting enthusiasts and open up for exploring Indonesia’s natural beauty in the biggest archipelago in the world,” Backlund added.&nbsp;MDI is developing the marina with significant collaboration from a number of international companies, including the Swedish marina developer SF marina, which specialise in floating breakwaters and concrete pontoons.&nbsp;Additionally, MDI has partnered up with Plus Marine from Italy in order to install electricity and water pedestals complete with SmartCloud remote metering system.&nbsp;Discovery Luxury Indonesia are also offering their services for yacht owners and their crews, with a suite of luxury services, as well as on and off-boat experiences, and comprehensive logistical support.&nbsp;Yacht owners at the marina are also promised a yacht club, modern yacht service, fueling station, luxury hospitality, entertainment, and commercial sections with retail, offices, and dining.&nbsp;“The new marina in Bali embodies our vision to position Indonesia as a key player in the global maritime industry, combining luxury experience, services, safe and world-class infrastructure,” stated Arif Suhartono, President Director Pelindo.“The marina will not only attract international yacht owners but also provide an exceptional home base for domestic vessels, contributing to the growth of Indonesia’s tourism and economic sectors,” said Joko Noerhudha, President Director Pelindo Solusi Logistik.&nbsp;<a data-gid="gid://syiq/Company/5448" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia Pacific Superyachts (Company)">Asia Pacific Superyachts</a> Indonesia manager, Captain Thomas Taatjes, concludes: “Meeting with project leaders we were excited to learn it is official and we will have a large world-class marina in Bali.”

New marina to open in Bali, Indonesia in 2025 for vessels up to 90-metres

PT Marina Development Indonesia 	and Pelindo have signed a contract to develop Indonesia’s first international-standard full-service yacht marina. 

New 180-berth marina to open in Bali, Indonesia in 2025

Day one of the inaugural <a data-gid="gid://syiq/Event/213" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia-Pacific Superyacht Summit">Asia-Pacific Superyacht Summit 2024</a> drew to a close yesterday, with a variety of panels taking place throughout the day. Held at the Renaissance Harbour View Hotel in Hong Kong, the two-day event aims to develop the Asian superyacht market and attract more yachts to the region.Read: <a data-gid="gid://syiq/Article/60657" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Over 170 people attend day one of the Asia-Pacific Superyacht Summit 2024 (2024-06-06 08:30:00 +0200)">Over 170 people attend day one of the Asia-Pacific Superyacht Summit 2024</a><img src="https://photo-assets.superyachttimes.com/photo/314084/image/large-a93bd40caf8096374cf8085c4f580135.png" data-gid="gid://syiq/Photo/314084">We take a look at everything you might have missed from this year’s event:The event started with opening words from Merijn de Waard, followed by an in-depth presentation of the Asia-Pacific Superyacht Report by <a data-gid="gid://syiq/Company/4509" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SuperYacht Times (Company)">SuperYacht Times</a>' Head of Intelligence Ralph Dazert.<img src="https://photo-assets.superyachttimes.com/photo/314017/image/large-e83684fca3bf368823c5e93cc63833b2.jpg" data-gid="gid://syiq/Photo/314017">Presentation of the Asia-Pacific Superyacht Report by Ralph DazertRalph began by highlighting the presence of prominent yachts such as <a data-gid="gid://syiq/Yacht/282" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Limitless96.25m (315'9&quot;)Lürssen Yachts1997">Limitless</a>, the largest yacht under the US flag, along with <a data-gid="gid://syiq/Yacht/6018" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bold85.3m (279'10&quot;)Silver Yachts2019">Bold</a> and <a data-gid="gid://syiq/Yacht/4946" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Andromeda107.4m (352'4&quot;)Kleven Maritime AS2016">Andromeda</a>, currently cruising in the region.He provided key statistics on the increasing yachts in the region, emphasising that in 2022, there were 372 yachts over 30-metres cruising, while 2023 rose to 445 and 2024 is predicted to reach around 515.&nbsp;Over 400 yachts are owned within the Asia-Pacific region, with the presentation also revealing that 58 percent of the visitors to the Asia-Pacific region are from within the region itself, while 12 percent come from the Americas.<img src="https://photo-assets.superyachttimes.com/photo/314008/image/large-52319bd64fa607ff9a60915e92eeb0d2.jpg" data-gid="gid://syiq/Photo/314008">Welcome Words from Invest Hong KongDuring his presentation, <a data-gid="gid://syiq/Company/7628" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="InvestHK (Company)">Invest HK</a>’s Head of Consulate and Chamber Engagement, KC Lam, emphasised the pivotal role of Hong Kong in the superyacht industry and broader economic landscape.&nbsp;He highlighted the significant growth of family offices and the increasing wealth of Ultra-High-Net-Worth Individuals (UHNWIs) in Hong Kong, showcasing the city as a major hub for wealth management.He also underscored the importance of the Regional Comprehensive Economic Partnership (RCEP), a free trade agreement among Asian and Pacific countries, which strengthens economic ties and promotes trade within the region.<img src="https://photo-assets.superyachttimes.com/photo/314010/image/large-5c496bd8c51b42ca5a18bd0d2a358829.jpg" data-gid="gid://syiq/Photo/314010">Managing &amp; operating yachts in the Asia-Pacific<ul><li>Joe Yuen, Lodestone Yachts</li><li>Andy Shorten, <a data-gid="gid://syiq/Company/2986" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Lighthouse Consultancy (Company)">The Lighthouse Consultancy&nbsp;</a></li><li>Colin Dawson, Managing Director, <a data-gid="gid://syiq/Company/7583" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The George Group (Company)">The George Group</a> and Technical Representative on behalf of <a data-gid="gid://syiq/Company/7582" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Howden Insurance (Company)">Howden Insurance</a></li><li>Nigel Tang, Captain of 53.4-metre <a data-gid="gid://syiq/Yacht/62" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nonni II53.4m (175'2&quot;)Mariotti Yachts2008">Nonni II</a></li><li>Gordon Fernandes of&nbsp;<a data-gid="gid://syiq/Company/5448" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia Pacific Superyachts (Company)">Asia Pacific Superyachts </a></li></ul>This panel addressed the operational challenges faced by yachts cruising in the Asia-Pacific region. &nbsp;It covered maintenance, refit, infrastructure, insurance, and training, providing a comprehensive view from an operational perspective.Joe highlighted that yacht clubs in Asia-Pacific often offer more exclusive facilities to owners, differing from the public accessibility seen elsewhere. In regards to crew, Nigel pointed out that local owners often replace existing crew with cheaper alternatives, impacting the overall experience and quality of service. <img src="https://photo-assets.superyachttimes.com/photo/314012/image/large-2a468704a154b148e9f08de4b51dd966.jpg" data-gid="gid://syiq/Photo/314012">Nigel and Colin discussed the issues arising from cost-cutting measures, particularly when new yacht managers try to impress by reducing expenses. When talking about clients, Gordon noted a significant increase in Asian yacht ownership over the past two decades, he attributed this growth to improved infrastructure and services.Andy discussed the diversity of cruising grounds in the region, particularly from an Indonesian perspective, while Joe mentioned the expanding local charter market in China, with more European yachts being delivered, particularly from brands like <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>.This panel provided valuable insights into the operational dynamics and evolving landscape of yachting in the Asia-Pacific region, addressing both challenges and opportunities for improvement.<img src="https://photo-assets.superyachttimes.com/photo/314028/image/large-f730cff9d54ca869b3d97ff122d5b924.jpg" data-gid="gid://syiq/Photo/314028">Building a yacht charter fleet in Asia<ul><li>Omi Tanchanok- owner of Astondoa motor yacht <a data-gid="gid://syiq/Yacht/1494" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="For Your Eyes Only31.45m (103'2&quot;)Astondoa S.A. (Astilleros)2004">For Your Eyes Only</a></li></ul>Omi Tanchanok began by sharing her inspiration for starting her company. She identified a market gap in Thailand where yachting was limited, and aimed to develop the industry to make it accessible for both locals and tourists.Omi then moved on to describe her hands-on approach to building her fleet and how she had personally visited every island and location before offering itineraries to guests. She also emphasised the importance of training, explaining how she collaborated with <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> mechanics and international engineers to train her staff to the highest standards.<img src="https://photo-assets.superyachttimes.com/photo/314031/image/large-fc881050d0096509f2d930880b8ccfc4.jpg" data-gid="gid://syiq/Photo/314031">Omi noted significant development in the charter industry, with many new providers entering the market. SuperYacht Times's Editor-in-Chief, Francesca Webster, asked how Omi addressed the cultural change, considering yachting was not traditionally part of Thai culture, Omi then explained that she worked closely with the local government and the tourism authority, who were keen to develop the industry from the start.Omi also shared her experience as a yacht owner of the 31.45-metre Astondoa motor yacht <a data-gid="gid://syiq/Yacht/1494" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="For Your Eyes Only31.45m (103'2&quot;)Astondoa S.A. (Astilleros)2004">For Your Eyes Only</a>, which she purchased in 2020. Despite her busy schedule, she dedicates five days a month to ensure service standards are maintained.<img src="https://photo-assets.superyachttimes.com/photo/314020/image/large-a1282855143b9eb69faab454efdf9d46.jpg" data-gid="gid://syiq/Photo/314020">How to get more yachts in Asia-Pacific and develop a charter market?&nbsp;<ul><li>David Good, CEO of <a data-gid="gid://syiq/Company/7593" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Australian International Marine Export Group (AIMEX) (Company)">Australian International Marine Export Group (AIMEX)</a></li><li>Lies Sol of <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a></li><li>Eric Noyel of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a> Asia</li><li>Julien Solari, Asia Chief Commercial Officer of <a data-gid="gid://syiq/Company/6" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Camper & Nicholsons International (Company)">Camper &amp; Nicholsons</a></li></ul>This panel explored strategies to increase the number of yachts in the Asia-Pacific region and develop its charter market. This panel covered the potential for the region, and discussed the ways that we can encourage more owners to bring their yachts to Asia.Eric highlighted the enjoyment of yacht ownership, but emphasised the need for regulatory improvements in the region to facilitate chartering. Lies also spoke about the difficulties in obtaining a charter licence in Thailand and stressed the importance of cooperation among various stakeholders to address regulatory issues impacting cruising.<img src="https://photo-assets.superyachttimes.com/photo/314006/image/large-23d82077f1aa7821445edae1bea8ba15.jpg" data-gid="gid://syiq/Photo/314006">Julien noted that COVID-19 acted as a catalyst, increasing the number of superyachts in Singapore and their sizes, with a shift from 18-metres feet to 27-metres. Eric highlighted the growth in demand due to COVID-19 and the need to focus on the Asian customer base while localising offerings.Julien also mentioned the strong dealer network and the natural evolution of yacht owners seeking vessels with greater range. Lies then discussed her efforts to develop the Thai charter market for yachts between 30-40 metres and highlighted the importance of encouraging yacht owners to consider longer journeys, including destinations like Fiji, Tahiti, New Zealand, and Australia, which would increase the presence of superyachts in the region.This panel provided valuable insights into the current state and future potential of the yacht charter market in the Asia-Pacific region, emphasising the importance of regulatory improvements, cultural understanding, and strategic promotion to attract more yachts and clients.<img src="https://photo-assets.superyachttimes.com/photo/314034/image/large-abf68ecf5c69631f000381a2a627c3da.jpg" data-gid="gid://syiq/Photo/314034">How Dubai became a hub for UHWNI superyachts<ul><li>Issam Kazim, CEO of Dubai Economy &amp; Tourism</li></ul>Issam Kazim &nbsp;shed light on Dubai's journey to becoming a hub for Ultra High Net Worth Individuals (UHNWIs) and superyachts. He highlighted Dubai's strategic global position, connecting the East and West, and its efforts in tourism development over time.Issam noted a significant influx of individuals relocating to Dubai, particularly since the COVID-19 pandemic. This influx has brought with it numerous family offices and wealth. He emphasised the economic impact of superyachts visiting the region and how Dubai ensures that those relocating to the city have access to maritime experiences.Issam elaborated on the importance of continually improving infrastructure and offerings to attract and retain visitors. Additionally, he highlighted how Dubai's favourable weather contributes to its appeal as a yachting destination.Lastly, Issam mentioned the importance of collaboration with stakeholders to address any issues and ensure a seamless experience for visitors and residents alike. This collaborative approach helps Dubai maintain its position as a premier destination for UHNWIs and superyachts.<img src="https://photo-assets.superyachttimes.com/photo/314039/image/large-52170540b91c39ac3dfffbd1cb5fcf38.jpg" data-gid="gid://syiq/Photo/314039">Selling superyachts in Asia<ul><li>James Clayton, Sales Director, <a data-gid="gid://syiq/Company/7547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Superyachts (Company)">Simpson Superyachts</a></li><li>Mark Woodmansey, Head of Brokerage, Asia at <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a></li><li>Carmen Lau Stratton, Senior Advisor, <a data-gid="gid://syiq/Company/6" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Camper & Nicholsons International (Company)">Camper &amp; Nicholsons</a></li><li>Andrew Pitchford, Director of Sales &amp; Marketing, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> Asia Pacific</li></ul>During this discussion, the panellists discussed the current state of the superyacht market in Asia, highlighting key insights and trends shaping the industry. The panel consisted of a number of local brokerage experts, discussing the most important topics around the sale of superyachts in the Asian markets.James emphasised that Asia, particularly Singapore, is emerging as the largest hub of yachting in the region and expressed his optimism about the potential for further growth in Southeast Asia.&nbsp;The panel discussed the factors driving this growth, such as increasing wealth in the region, rising interest in luxury lifestyles, and the development of marina facilities and supporting services.<img src="https://photo-assets.superyachttimes.com/photo/314013/image/large-21ec980699272b3dd5086905a0a1b0e0.jpg" data-gid="gid://syiq/Photo/314013">The speakers expanded on regional trends in yacht sales, highlighting popular destinations for buyers and emerging markets within Asia. As well as this, they spoke about the importance of collaboration among industry stakeholders, including yacht brokers, manufacturers, and government authorities, to support the growth of the superyacht market in Asia.Day two will begin on 6 June, with topics such as how to build a successful marina in Asia, how European yacht builders try to attract more Asian clients, the future of yacht construction in Asia and navigating the new-build journey.Read:&nbsp;<a data-gid="gid://syiq/Article/59887" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia-Pacific Superyacht Summit 2024 programme announced (2024-04-04 17:00:00 +0200)">Asia-Pacific Superyacht Summit 2024 programme</a>The two-day event will then conclude with event partner <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a>’s Managing Director, Rose Damen providing a keynote interview on the value of the Asia-Pacific region, the yard's strategy over the coming years and the changing landscape of the superyacht construction sector.

Asia-Pacific Superyacht Summit 2024 Day 1 summary

We take a look at everything you might have missed from day one of the inaugural Asia-Pacific Superyacht Summit 2024.