Monaco Yacht Show 2023
Pandora Mather-Lees
Director
IORMA Luxury and Creative Centre
Monaco Yacht Show 2023: Maritime Industry News Update
According to Fortune Business Insights, the global luxury yacht market size is projected to grow from $7.67 billion in 2023 to $13.67 billion by 2030.
Warsash Maritime Academy considers that the global superyacht industry has an annual turnover of over $26 billion. This figure includes not just sales, but a greater number of facilities from yacht-build to repair, services, berths, crewing and so on. Whilst the US leads in terms of sales, Warsash estimates that 54% of the wider services market is in Europe and figures specifically for the UK, represent nearly £700m employing over 4,500 people. The superyacht fleet, in the last 10 years, has nearly doubled, there are now nearly 5,000 yachts 24m+ in length currently operational. With the industry supporting so many jobs the industry has a significant economic impact. In fact, it employs between 148,000 to 163,000 people worldwide. Moreover, in a 2019 London Conference briefing, Superyacht News described the impact of the life of a 70m Feadship superyacht as providing 10,000 jobs from the stevedores on the dock through to the stewardess service in the interiors.
It is against this industry backdrop that The Monaco Yacht Show (MYS) returned with a grandeur befitting the iconic Port Hercule from September 27th to 30th, 2023. A beacon of innovation in luxury maritime, this year’s event not only showcased opulence but also embodied a commitment to progress, design, ecology, sustainability, and an enhanced visitor experience. Our journey through the 32nd MYS unveils the stunning vessels, exclusive exhibitions, and the evolving landscape of consumer commerce within the yachting industry.
A Vision for Sustainable Yachting
At the heart of this year’s Monaco Yacht Show was the “Seducation” program, a three-year initiative aimed at transforming the event into a true yachting “ecosystem.” This vision emphasizes not only the importance of yachting in the luxury sector but also a responsible and sustainable approach to the superyacht industry. Structured around themed areas such as the Yacht Design & Innovation Hub and Sustainability Hub, the exhibition showcased cutting-edge technology and eco-friendly solutions that echoed the industry’s commitment to environmental responsibility.
The Monaco Yacht Show Fleet
The picturesque Port Hercule played host to a remarkable fleet of 120 superyachts and megayachts, including highly anticipated 2023 launches. This year’s fleet reflected the industry’s rapid growth, with 61 yachts less than two years old, showcasing the general advancements in yacht construction. Among these amazing vessels were the Italian Sea Group sector nestled at the rear of the port. Namely MY Kensho, MY Silver (from specialist Yacht Brokerage Cecil Wright), and the renowned “Art Explorer,” the world’s largest sailing catamaran. Presented by Perini Navi, part of The Italian Sea Group, this 47m sailing catamaran is not only a luxurious charter but also serves as a floating museum. With a fully automated sail plan and environmental features like solar panels and catalytic filters, the “Art Explorer” symbolized the marriage of innovation and sustainability. Also notable was Benetti’s “Seagull” and “Phoenix 2” replete with art deco interior and furnishings by Winch Design, creating a dramatic thematic throughout its 90m length. Phoenix2 was presented by Burgess for sale along with “Invictus”, “Seanna” and “Force Blue”, all state of the art vessels.
The 43-meter power catamaran, “This Is It,” by Tecnomar Designs and R&D Designs, captivated attendees with its unusual and technically advanced build. Every aspect of the world’s largest catamaran exuded exclusivity and futuristic elegance the inside was lavishly decorated with a calming colour scheme that featured metallic highlights desirable art and sculptures – the interior decor expertly combined comfort and cutting edge style exhibiting custom furniture that enhances the yachts appeal for anyone who stepped aboard. The lighting has been a critical element of its design and has expertly highlighted the internal and external layout of the yacht to accentuate its opulence for its owner and guests. A key aspect is providing natural ambience for the artwork on display. To visit “This is It” is to journey into a world where elegance innovation coexist together.
The Brokerage Market
“This is It” was Presented by Cecil Wright, a boutique superyacht brokerage house founded by Chris Cecil-Wright in 2013. The brokers also presented Motor Yacht “Phoenix 2”. Specializing in Northern European yachts over 60m, Cecil Wright focuses on strong client relationships in the presentation of these top-tier yachts.
The Italian Sea Group’s “Kensho,” an imposing 75m Admiral vessel in azure blue, and Genoa’s Tankoa Yachts’ MY “Grey” with an asking price of €36,500,000 (or €290,000 per week for charter) further enriched the showcase. The evolving yacht designs unveiled at MYS not only celebrated opulence but also reflected the changing preferences of a younger generation of superyacht owners as well as innovating and utilising the best of new technology.
Exquisite Exhibitions in the Luxury Tent
Crystal Caviar showcased its “Acqua” sculpture by Vlastimil Beranek, a monumental crystal creation crafted over nearly a year. The exhibition featured works made from 6500-year-old subfossil oak wood, accompanied by further bohemian crystal counterparts, namely the impressive Waterfall multi coloured sculpture on show by Jaroslav Prosek. Noteworthy were sculptures from the ‘Plastic Oceans’ exhibition by Ela Smrcek and Jaroslav Prosek, serving as poignant expressions of the prevalent issue of plastic pollution in our oceans.
Paola Lenti’s Yachting Collection, designed by Espen Øino, took centre stage with its minimalist designs and environmentally conscious materials. Distributed exclusively through Sabrina Monte-Carlo, the collection embodied functionality tailored to maritime living. Sabrina Monte-Carlo’s exquisite showroom, applauded by none other than Prince Albert himself, featured a cabinet of curiosities in white and aqua blue, creating a fairy tale ensemble.
The show would not be what it is without champagne to increase the buzz. Comte de Monte-Carlo champagne was the key sponsor at the event with a range of tasting options at its Bar on the Quai Antoine including exquisite Blancs de Blancs.
Nautical Innovation in Darse Sud Tent
In the Darse Sud tent, exhibitors showcased maritime equipment, both exterior and interior. Superyacht UK, with its annual stand supporting British industry participants, highlighted the strength of the British presence. Destination stands from marinas around the world drew visitors with their impressive offerings. Genoa Superyacht Hub, in particular, promoted its new marina and a program of training activities and support for vessels and crews.
Further innovation for the Super yacht interior came from a company called Alchimia, which highlighted “invisible technology” for connected audio visual products, notably integrated magic UI, an invisible user interface, seemingly inside any surface made out of natural stone or wood. This was exhibited amongst many other on-board service applications and remote control facilities.
A Harmonious Blend of Luxury and Sustainability
In conclusion, the Monaco Yacht Show 2023 was a testament to the evolving landscape of consumer commerce within the luxury yachting industry. The event not only showcased the epitome of opulence but also underlined the industry’s commitment to sustainable practices and innovative design. This year’s association with The Superyacht Life Foundation for “The Honours” reflected a conscious effort to align with modernity, environmental responsibility, and cutting-edge technology. The Monaco Yacht Show continues to set the international standard for the luxury yachting industry, attracting enthusiasts, owners, and industry professionals from around the globe.
As the industry embraces change, the Monaco Yacht Show remains committed to excellence, providing a platform for collaboration, innovation, and the celebration of the extraordinary in yachting. The 32nd MYS not only delivered a showcase of cutting edge luxury but also highlighted the industry’s commitment to a sustainable and responsible future.