The superyacht industry looks towards Asia in 2017 as recently confirmed in Boat International’s top trends to expect from the superyacht market this year.
As the development of the superyacht industry grows in the region it should come as no surprise that the upcoming Singapore Yacht Show in April is announcing more Asian premiers this year than ever before. Y. H. Fang, Founder of Yachting Singapore and a proud AYSS member, spoke to us about this growth. “In terms of visiting yachts both the number and size of the yachts visiting the region is steadily increasing. We are also seeing more and more requests for spares and ship stores from yachts in the region as well.”
Fang started his marine career as a RIB builder after leaving the navy with 15 years of service. He quickly saw a need for professional support services for the increasing number of yachts based in and visiting Singapore each year and Yachting Singapore was born. Superyacht captains who have cruised in the area know Fang as one of the hardest working guys in the industry.
Besides offering a full gamma of agency services including immigration formalities and port clearances he has a long-standing relationship with all of the major shipyards and marine contractors going back to his boat building days. Essential repairs and works are carried out in an efficient and professional manner and in an atmosphere of maximum transparency as the Financial Times recently called Singapore the “Switzerland of the east”. From its luxury lifestyle offerings, and cited for its efficiency and safety, it boasts the added benefit of a tropical coastal setting. Singapore is quietly, but diligently strengthening its position as the superyacht hub of Asia. Strategically located at the crossroads of the South China Sea and Malacca Straits to the south of the Malaysian Peninsula today Singapore is one of the busiest ports in the world.
Today superyacht owners agree that Singapore is an ideal location for long term berthing, or for a quick stop over to refresh supplies and source for parts at one of world class marinas in the area such as ONE°15 Marina Sentosa Cove, Raffles Marina and the Marina at Keppel Bay. Crew stopping in also enjoy the benefits of a cosmopolitan, ultra-modern city, which is easy and inexpensive to navigate with its ultra-modern underground railway, buses, and taxis.
As a free port, Singapore is also a shopping paradise as duties are only applied to certain categories of goods (spirits, tobacco, motor vehicles and petroleum products). Crew rely on Fang for GST (Goods and Services Tax) compliances and optimization. “Singapore is already very transparent in terms of port regulations and immigration policies. Port dues are only $30SGD per 100GT per year and immigration clearance is free and crew can stay up to 180 days here,” Fang continued.
“The size of the yachts calling into Singapore has seen tremendous growth, which is actually causing some berthing challenges,” in fact Fang told us. If Asia is on your radar for the near future, get in touch with Fang earlier than later. You can also follow Fang on social media on Facebook, Twitter, Instagram and LinkedIn. “Through social media, we are able to provide constant updates on what we are working on. While most of our clients still come to us through introduction and recommendations from other captains and managers we like to stay in touch with the industry as it provides us a platform for captains to visualise what we do.”