Denison shared some charter trends insights and new brands and builders update at the Monaco Yacht Show 2021.
2021 has already proven to be a record year for SuperYacht sales globally – According to BoatPro (Boat International) – there have already been 461 Brokerage transactions year to date. That’s 12% up on the total number of transactions in 2020 with the busy Fall Boat Show Season only just kicking off in Europe.
Denison has continued to build on the success of 2020, where the company saw a 35% increase in sales over 2019 total. As of today, Denison Yachting have completed 75 SY transactions, which is 15% up on 2020 total number and a 56% increase in SuperYacht transactions for Denison over 2019’s reported figures.
In 2021 Denison Yachting accounts for 16% of all global SY sales.
In fact, since 2019 to date, Denison Yachting have sold more large yachts than any other brokerage firm globally, having completed 190 SY transactions 15% more than any other brokerage house in the same period. That’s an average of 5.7 yachts 24M + sold every month since the start of 2019.
Charter Trends
For Denison specifically, 2021 has been extremely active and almost all actively in the 3 Q’s of the year was based locally. US, Bahamas and into New England. This is typical due to Denison’s Charter Management Fleet being centric to those areas and the hesitation in the early part of 2021 about Europe’s Covid protocols. Most of owners decided not to send yachts to Europe. In the past 2-3 years Denison have seen a more prolonged charter season in The Bahamas, which is leading to many yachts staying based locally in Florida. It was reported in May 2021 (a time traditionally many large yachts will migrate to Europe). There were over 100 yachts 100ft plus in Fort Lauderdale based marinas and repair facilities than at the same time in 2020.
By the numbers – Denison Charter Management/Marketing has shown a 65% increase in total number of weeks booked in 2021 (TYD) over 2020. And a 73% increase in the total amount of charter fees. This is a representation of the growth and quality of the fleet.
The Denison Retail Charter team have maintained the active of 2020 in terms of weeks booked, but Denison see much higher demand for larger and more expensive yachts than ever before. 40% increase in the value of each charter week booked in 2021.
All of this underpins reasoning and strategy for Denison’s move into Europe – Denison Yachting’s success and the sales activity highlighted is predominately US based. As the company tracks the trends in the market place and over the period of the Pandemic, they have seen a sharp uptick in US buyers, particularly in the large yacht sector. With that comes an increase in clients looking to enterer yachts into a charter programme, crew placement increases, Denison’s operation yacht management services expand. All critical services to ensuring clients are taken excellent care of and they have the very best yachting experiences.
“We believe that as we move into 2022, clients will be excited to get back to Europe and we wanted to ensure we are there to serve clients globally”, said Bob Denison.
