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Marina Projects in Wall Street Journal

Following an interview with Director Geoff Phillips, Jason Chow makes reference to market research and data provided by Marina Projects consultancy.  In the article, “Nice Boat, No Dock” he talks about the lack of superyacht berths in comparison to the number of superyachts now in operation and production.

“The traffic jam is hardly surprising considering that the world’s fleet of superyachts has ballooned in the past five years by 25 percent, to around 4,600, according to Marina Projects, a U.K. consultancy firm. On average, 200 new boats are delivered each year. But environmental regulations and the heavy costs of starting new marinas big enough to handle megayachts are deterring developers from adding more berths in places where they’re needed most. In the Mediterranean, which is where most of the yachts are located, there are an estimated 3,000 superyacht berths, Marina Projects says. That would be plenty, except not everyone wants to be in Croatia in July, and the hot-spot ports like Monaco, St. Tropez, Newport and Fort Lauderdale just haven’t been keeping up.”

Chow discusses the acute berthing issue in Hong Kong where the superyacht market is growing but with yacht ownership faster than big boat berths.  The problem is not only limited to superyachts according to Chow and those he interviewed.

Porto Montenegro Phase 1 Development

For the full article visit The Wall Street Journal website which also references marina developments at Porto Montenegro, Spain and Dubai.