Northrop & Johnson has always had a strong presence in Asia, and was one of the largest brokers at last week’s Singapore Yacht Show. I sat down on the last day of the show with yacht broker Bart Kimman, to review the show, as well as the status of the Asian market.
“We had a very good show and good traffic, we have had two superyachts in the superyacht dock, we had 5 yachts in the F dock in the middle of the show, as well as a large stand. In all of these three areas we have had good traffic” Bart tells SYT.
When I ask Bart about the type of clients N&J has seen during the show, he replies “I think this show attracts very much international traffic. I have seen clients from Europe, Russia, mainland China, Honk Kong, as well as Indonesia. The show has been a great international hub, much to Arthur Tay’s credit, who created a great Marina and environment for such an event. He has been extremely pro-active in creating the fuzz, and that why we are here as well”.
"Looking at the local Asian Market, Bart comments “Indonesia has great potential, but it takes a long time for it to fully develop. We see more and more activity in that country, but for now it’s mainly foreign clients taking their boat there, and there are some good charter vessels there. But for Indonesians to buy yachts for their own use, within Indonesia, that I don’t see happening just yet. The region needs to develop a bit more, which is a pity, because the area is stunning”.
Looking at the charter market in Asia, Bart says: “I think the charter market for large yachts will be predominantly Americans, Russians and Europeans. I think from the local Asian point of view, the market will grow in the Dive charter market, but for Asians to good on a holiday on a superyacht within Asia for a week’s charter, is not within the culture yet. The area is huge, the potential is there, but in reality the market so far has been small, and fragmented”.