What’s new in the Superyacht Tender Industry?
Back in 2020, the global pandemic presented a serious obstacle for the yachting industry. But despite this, since early 2021 the yacht tender market has been incredibly strong. Reports reveal that the demand for both new and pre-owned tenders has been unprecedented.
Nigel Upton, CEO of Superyacht Tenders adds:
“Currently, we’ve seen that the demand for tenders in the industry is at an all time high. However in general, availability still poses major challenges for the industry in 2022 and beyond. Production cannot meet this demand anymore…”
From a manufacturer’s point of view, they are struggling to meet the increased demand of requests for tenders. This is due to serious problems with the availability and supply of materials. As well as, GRP costs having more than doubled since the beginning of the year. And prices are continuing to skyrocket! It’s also been noted that there have been shortages of engines (both inboard and outboards), and other vital mechanical components.
Over the past year, clients have been finding out they’re going to have to wait one, two, or more years for their new order to be guaranteed as a result of a lack of available build slots, materials, and guarantees regarding the supply of engines and other major components.
With suppliers having to do the best they can with staff shortages, on top of all the above, it’s no doubt that many Superyacht tender manufacturers are now struggling to meet more recent deadlines. Subsequent orders are now being canceled (and this is without even mentioning the Russian owners and the sanctions in place).
“The threat of an imminent recession looming relates to a survival of the fittest from a manufacturers point of view.” – CEO of Superyacht Tenders, Nigel Upton
With the bad comes the good and reports reveal that an increase of clients have been opting for good, quality pre-owned tenders and chase boats for some time now. More so as they are readily accessible and present excellent value for money. But, will this have a play-on effect on the pre-owned tender market?
“Superyacht Tenders has seen a huge increase in demand for well maintained pre-owned tenders from their brokerage service. I’m proud to say we’ve supplied over 50 pre-owned tenders to yachts since early 2021.” – CEO of Superyacht Tenders, Nigel Upton
The once abundant stock pool of available used Superyacht Tenders is beginning to encounter shortages. Brokerages are now finding that stock is not being replenished because tenders owners are now hanging onto their boats due to a lack of other available, short-term options.
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Take a look at the 7 Tenders that were available on the yacht tender Market in May 2022 by clicking here.