The fight for capacity (January 20, 2021)

With demand for second-hand vessels and charter high, will the market suffer from a lack of capacity in 2021?
With reports highlighting an incredibly active year for the brokerage community in 2020 – as well as various stakeholders suggesting a shortage of quality tonnage – a charter season that will be congested with postponed charters on the horizon and limited slots available at the market’s leading shipyards, will 2021’s performance be coloured by capacity issues?
“According to the data, 2020 was the best year for brokerage since 2009. There have been 490 yachts over 24m sold, 13 more than in 2018 that had previously been the record holder. There were 18 per cent more yachts sold in 2020 than in 2019,” starts Raphael Sauleau, CEO of Fraser. “As global UHNW wealth continues to increase, new wealth is coming in and the upshot of this is that it impacts the yachting industry. The growth of the yachting market is still slower than the global wealth increase, but this means that there is a large gap to fill and we can look positively at this challenge.”

This entry was posted in Press. Bookmark the permalink.