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Home / Lifestyle

Rise of the super yacht

By Alice Hudson
6 Oct, 2007 04:00 PM5 mins to read

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The beautiful 48m (155ft) motor yacht T6 built for rich-lister John Spencer, launched by New Zealand Yachts, in Whangarei. T6 is an ice-class super yacht explorer. One of its special features is a below-deck heli hangar.

The beautiful 48m (155ft) motor yacht T6 built for rich-lister John Spencer, launched by New Zealand Yachts, in Whangarei. T6 is an ice-class super yacht explorer. One of its special features is a below-deck heli hangar.

KEY POINTS:

It's a long way from the non-descript building yards of West Auckland and Northland to the big, wide waters of the mega-rich world, but Kiwi-built superyachts are making that journey.

Local boatbuilding companies are reporting order books full for years into the future.

The world's wealthy are choosing
to build ever-bigger and more luxurious craft, industry insiders say. And more are choosing Kiwi companies to design, build and deck out their ultimate status symbols, used for racing as well as cruising the world.

Any well-heeled customer looking for a new boat now will likely have to wait until at least 2012 before they can launch their plaything. Super yachts can take more than 18 months to build, and they aren't cheap - generally costing around $50 million for a 50m yacht, though that figure can increase sharply if the owner wants a top-quality interior.

Tony Hambrook of Alloy Yachts, the country's biggest superyacht specialist - whose craft Ad Lib was last year voted best superyacht in the world at the industry's version of the Oscars, The Boat International awards - said the company was building four luxury craft, ranging in size from 40m to 58m.

Just who they were for was kept strictly under wraps by tight confidentiality clauses, he said, but it was safe to say owners were of the mega-rich variety, with very few from our shores.

Hamburg said he was able to identify only a handful of owners. Tiara, one of the first sail boats to be built with a helicopter launching pad, was custom-made by Alloy for Swiss architect Jonathan Leitersdorf, though it had recently been sold for an undisclosed amount to a "well-known figure in the international entertainment industry".

And Alloy's 52m sloop Kokomo, a finalist in this year's Boat International awards and the International Superyacht Design awards, was built for Australian property developer Lang Walker.

Meanwhile, the Herald on Sunday has learned Matteo de Nora, the wealthy Swiss/Italian backing New Zealand's America's Cup quest, is having a vessel built in Auckland to replace Imagine, the 34m gleaming blue sloop used as a hospitality boat in Valencia.

Other recent launches include jeweller Michael Hill's boat, VvS1, and a 48m vessel owned by Kiwi rich-lister John Spencer, built by New Zealand Yachts in Whangarei.

Spokesman Damon Jones said the company had room at its yards to build boats up to 65m in length. It occupies more than 4.45ha of water frontage in the town known to some as "Super Yacht City", and is refitting a 42m luxury sailing catamaran, the largest in the world.

"Just about every quality shipyard in the world is at capacity," Jones said. He recently met two brokers with orders for seven craft between them, ranging from 40-120m, "and they can't find anywhere to build them".

Though he had to remain mum on who the super-rich owners were, he said, these days, "you'd be surprised" who was cruising the world.

"From people who make toilet paper to jeans, industry, to fashion, construction to furniture - it's just when people have a lot of money they like to spend it and have fun," he said.

"It's the epitome of luxury, it signifies you are super wealthy, the ultimate status symbol."

In New Zealand, it's not just boat builders taking their slice of super-yacht pie. Interior designers, boom and mast makers, furniture makers and even sound equipment companies told the Herald on Sunday they were getting in on the lucrative international trade.

The Government has chipped in, acknowledging the need for better infrastructure to support the booming industry. It put $2 million towards a new superyacht launching facility at the Hobsonville Marine Precinct, a project developed by Waitakere City Council, the Marine Industry Association and the Auckland Regional Council's economic development agency, AucklandPlus. It hopes the facility will help Kiwi boat builders compete with their offshore counterparts.

Meanwhile, last week news broke of a multimillion-dollar deal between niche-market Whangarei company SMI Group, which specialises in constructing the luxurious interiors of superyachts, and ship giant Chathay Atlantic Group.

The deal will see the Kiwi company expand in Whangarei and overseas.

General manager Jake Jacobson said buyers could expect to pay anywhere from $5-7 million for an interior for a 49m boat, or $8-10 million for a 61m craft.

The operation has recently expanded into Europe, after winning a contract to install a new interior in the 72m Amadeus. The vessel is reportedly owned by multimillionaire Frenchman Bernard Arnault, a tycoon who runs luxury goods company LVMH - owner of luxury brands such as Louis Vuitton, Moet & Chandon and Givenchy.

The finishing touches of the newly facelifted Amadeus are being completed at a base in Croatia and the owner has reportedly put in further orders. It's also been reported Arnault recently "borrowed" his vessel back from the SMI work yards overseas, so he could take friends, including Tony and Cherie Blair, and Bono, for a cruise.

And what a cruise it would be. With six decks, double rooms for 12 guests, complete with ensuites, spa pools, a gym, library, and four to five lounges, yachts of that size were often likened to mini-hotels, Jacobson said.

It's no wonder young Kiwis are clambering over themselves to crew them.

Discover more

Freight and logistics

Summer of mixed fortunes for superyacht refitters

31 Mar 05:30 PM
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