Northrop & Johnson has always had a strong presence in Asia, and was one of the largest brokers at last week’s Singapore Yacht Show. Managing Director Bart Kimman noted, 'We had a very good show, and good traffic. We had two superyachts in the superyacht dock, we had five yachts in the F dock in the middle of the show, as well as a large stand. In all of these three areas we have had good traffic,' Kimman said.
Bart Kimman, Northrop & Johnson Asia Ltd
Concerning the type of clients N&J has seen during the show: 'I think this show attracts very much international traffic. I have seen clients from Europe, Russia, mainland China and Hong Kong, as well as Indonesia. The show has been a great international hub, much to Arthur Tay’s credit. He has created a great marina and environment for such an event. He has been extremely pro-active in creating the buzz, and that is why we are here as well.'
Looking at the local Asian market, Bart comments 'Indonesia has great potential, but it will take a long time for it to fully develop. We see more and more activity in that country, but for now it’s mainly foreign clients taking their boat there, and there are some good charter vessels there. But for Indonesians to buy yachts for their own use, within Indonesia, that I don’t see happening just yet. The region needs to develop a bit more, which is a pity, because the area is stunning'.
Looking at the charter market in Asia, Bart says: 'I think the charter market for large yachts will be predominantly Americans, Russians and Europeans. I think from the local Asian point of view, the market will grow in the dive charter market, but for Asians to go on holiday on a superyacht - in Asia - for a week’s charter, is not ‘part of the culture’ yet. The area is huge, the potential is there, but in reality the market so far has been very small, and is very fragmented'.