Elite Traveler Summer 2023

elite traveler SUMMER 2023 55

CRUISING PATTERNS One of the demands of the younger

generation is the desire to travel to remote destinations — like the Andaman Sea on board CamaraC . According to Espen Oeino, they do not want to be restricted to popular and well-trodden cruising grounds, but instead have a desire to explore the world and the boundaries of what their yacht is truly capable of. However, this is only in relatively small numbers. “Although we have seen a slight increase in owners wishing to go further a fi eld, the traditional cruising grounds still dominate the itineraries,” says Richard Lambert, head of sales at Burgess. This trend is also re fl ected in the charter market. “The main change that we have seen in bookings from younger clients — approximately 45% of our charter clients are under 40 years old — is in the destination choice,” says Frances Edgeworth. “Some of our younger clients are looking to get o ff the beaten track and have an ‘adventure’ charter.” And, for those new to charter, it seems the hotspots of the Mediterranean remain as popular as ever. “A lot of our younger clients are new to charter and care more about the yacht than the location, initially,” says Vicky Whitehouse, charter broker at Fraser Yachts. “I fi nd, they start o ff with a fantastic yacht that does the milk run, and then they start expanding their horizons.”

CAMARAC BYNUMBERS LOA 105 ft Topspeed 11 knots Cruising speed 10knots Number of crew 6 Number of guests 12

Available in the Andaman Sea, Gulf of Thailand from $66,000 per week. Contact yachtcharter@fraseryachts.com,

+377 931 004 50, fraseryachts.com

RESPONSIBLE YACHTING It is important that the industry takes advantage of the aforementioned Gen Alpha Design trend, but it also must align with a strong message of sustainability. “People don’t want to travel to fragile ecosystems and then contribute to damaging them in the process,” says Paris Baloumis. To attract this younger generation, shipyards need to accommodate such demands by creating ocean-going hulls, engines and multifunctional equipment, as well as yachts with increased fuel e ffi ciency. The younger yacht owner is looking to match his or her value set and enjoy responsible yachting. “We now discuss alternative propulsion systems and sustainable technologies on board in almost every customer meeting,” says Michael Breman, sales director at Lürssen. “Five years ago, customers were not willing to spend more money on sustainable technologies or to give up some space on the yacht. Today, all options are discussed and more budget and space are given to them.” Leading shipyards have responded by building diesel-hybrid motor yachts, and a number have invested in future propulsion systems. Lürssen is leading the charge in this area with its research into fuel cell technology, with hydrogen being the preferred element. The shipyard currently

Lürssen’s Project COSMOS is due for delivery in 2025

has a yacht in build, Project COSMOS, that will have a fuel cell installed, due for delivery in 2025. “The yacht will be able to anchor for 15 days or cruise 1,000 nautical miles at a slow speed, completely emission free,” says Breman. “The client is younger and a real pioneer.” Breman believes that the biggest challenge the industry faces is having a combination of technically prepared, future-ready shipyards and owners who dare to be di ff erent. “Perhaps it is the younger generation who will lead the charge in this respect. The biggest part of the word ‘revolution’ is ‘evolution’,” says Breman.

The sailing yacht market is also enjoying something of a resurgence in popularity. “The bridge between catamarans, sailing yachts and motor yachts is closing in, with more of these designs becoming more prevalent,” says Thomas O’Nial, sales manager at Camper & Nicholsons. “Younger clients are more concerned about their global footprint, so sailing yachts are also often a clear choice.” Simon Goldsworthy agrees: “In the past, your average sailing yacht owner was a 60-something-year-old looking to retire. Recently I have been working with much younger clients, many with younger

children, and often from fi nanceand technology backgrounds who have reevaluated their priorities and how they wish to spend their time away from work.” The stats support this — just a few years ago the average age of Edmiston’s clients was between 55 and 65 years old. This has now fallen to between 45 and 55 years old, with the fastest-growing segment of owners being Fintech entrepreneurs who are not yet 40. “Discussions on new projects are starting much earlier in clients’ working careers,” says Goldsworthy. “They’re no longer waiting until they sell their company to enjoy their wealth.”

Photo Tom Van Oossanen