The Superyacht Singapore Association (SSA) has confirmed that the number of superyacht visiting Singapore has more than doubled in the past 12 months.
The Superyacht Singapore Association (SSA) were aiming for a total of 80 yachts to visit the area throughout 2010 however by June, they had proudly registered a total of 54 unique superyachts (including locally-based ones), comfortably surpassing the halfway mark by 14 units and more than doubling the 26 vessels that were registered in the same period in 2009.
Graph Showing New Arivals by month - Credit Superyacht Singapore Association (SSA)
From January 1st to June 30th, 39 new superyachts visited Singapore, equivalent to a 260% increase from last year’s achievement of 15. These visiting superyachts represented 4,642 of total footage, compared with 1,931 in 2009, equivalent to a rise of 295%.
Graph Showing total footage of Superyachts visiting Singapore - Credit Superyacht Singapore Association (SSA)
Even though the number of superyacht visits have grown by 260%, the average foot-run for visiting vessels in the first 6 months of 2010 has decreased to around 119ft compared with 129 feet for the same period last year.
An incredible 11 regional superyachts visited Singapore in the first half of 2010, as opposed to only 1 superyacht in the same period from January to June 2009.
This increased number of regional superyachts visiting the area is evidence that the regional economy recovering strongly and the superyacht industry in this region is growing. The superyachts based in Singapore also increased from 14 to 15 vessels with the addition of an 84 ft yacht early this year.
According to the Superyacht Singapore Association (SSA), the main reasons behind the overall increase in traffic include:
1) Strong recovery of the global and regional economy
2) Business optimism translating into more and higher quality charters, cruises undertaken by superyacht owners that travel further.
3) Trust in the security measures undertaken by government bodies of the cruising routes in the South-east Asia region.
4) An increase in public education of the vast richness and beauty of the cruising routes and destinations in this region.
There are currently 2 superyachts being built in Singapore that are aiming to be completed by the beginning of next year. It is surely evidence that increasingly more companies have embraced the vision and belief in Singapore’s potential to become a superyacht hub and destination.
Although the superyacht traffic growth was hit hard last year, it appears that this year, it is not only back on track but growing at a rate better than expected. The Superyacht Singapore Association (SSA) are hopeful for a greater jump in the third and fourth quarters of 2010, especially with the upcoming F1 Grand Prix in September.
