As previewed in last months issue, the new association, AEGY (Asociacion Espanola de Grandes Yates) has presented it´s objectives at a meeting held on 11th October at Real Club Nautica in Palma.
The meeting was attended by over 50 delegates from all sectors of the leisure marine market in Spain and the Balearics, including shipyards, naval architects, marinas, charter operators, and various national and international marine service providers.
The main theme focused on the potential for large yachts (Quantified as over 24 metres long) to generate income for the Spanish economy, which is estimated to be between 20 and 35 million Euros per week, according to a study carried out jointly by Camper & Nicholson and MYBA. (Asociacion Mediterranea de Agentes de Yates)
AEGY was constitutionally formed in Palma on 4th April this year , and it´s interim President is Diego Colon , Managing Director of Astilleros de Mallorca, this pending a formal management board selection process, which will take place at a further meeting in mid November.
The principle aims of the association are to protect and enhance the interests of owners of superyachts and all complimentary service activities connected with them. This it will do by raising the profile and image, together with the financial and commercial representation of the superyacht industry towards government institutions, and professional organisations, that can influence all forms of nautical activity pertaining to the operation of leisure yachts over 24 metres.
During the presentations to the delegates, Diego Colon emphasised the great importance the association attaches to positively influencing politicians and public administrations within Spain, about the new maritime law (Ley General de Navegacion Maritima).
The association’s legal spokesman, Tomas Fernandez-Quiros later went on to say that such vessels were treated as “recreational ships” in competitive European countries such as the UK, France, Holland, Germany and Italy, and that the new law must create equal opportunities for such vessels when operating within Spanish territorial waters.
Ricardo Ferrer President of ANADE (Mediterranean Yachtsman’s Association) and Jonathan Syrett of Camper & Nicholson also contributed to the presentation, and Ferrer made reference to the lack of moorings for yachts from 24 to 50 metres in Spanish ports and particularly in the Balearics.
Syrett emphasised the importance of this sector in it´s overall contribution to the revenue expectations from nautical tourism, and pointed out that a new 30 metre yacht can cost between 4 and 8 million Euros, with 50 metre yachts weighing in at 20 to 45 million, and a 100 metre vessel anything up to 150 Million.
To emphasise this point he stated that the capital expenditure on the 100 metre yacht, would be equivalent to a whole years production output of Spanish built boats.
He also mentioned that 10% of such a boats value is spent annually on it´s maintenance and that 80% of that is spent “out of season” in the boats home base port.
Also that according to another study by MYBA, a charter income of some 100,000 Euros per week, can be expected from a 45 metre yacht, and that the average daily spend of charter guests aboard is between 400 and 1000 Euros per day / per person!
In conclusion it was stated that a substantial amount of this potential income is lost to Spain , because of lacking port facilities, punitive taxes and generally obsolete fiscal treatment of chartering revenues at this high end of the market.