Debate and industry concerns mark Gulf Superyacht Forum

by Jeni Bone on 16 Mar 2009 The Gulf Superyacht Forum, sponsored by IGY, held 12 March in Abu Dhabi, was characterised by heated debate, high profile speakers, a mixture of optimism and current reality.

Held in collaboration with the Abu Dhabi Yacht Show, the new addition to the superyacht events sold out.

There was a diverse mixture of regional and international industry players in attendance sparking great debate and discussion. The conference opened addressing the business potential of this new and rapidly developing region – the panel focused on the advantages of the Gulf as a super and giga yacht cruising ground in comparison to more familiar territories such as the Mediterranean and Carribbean.

Michael Horrigan, CEO of IGY, outlined the extent of the development by the numerous marina projects planned, purposely built to cater for the ever-growing superyacht industry. Other panelists included Saif Altenaiji, from the new shipyard Abu Dhabi MAR, Karl Morten Wilkund and Kostas Antonopoulos-Rothschild, Platinum Yachts, who gave a regional perspective and positive outlook for the future of yacht building and cruising in the Gulf. A less optimistic opinion came from Wim Koersvelt, Managing Director of ICON Yachts in Holland who suggested the region was still far from competing with its European counterparts.

The conference resumed after lunch with the second session focusing on the operational and logistical problems that large yachts face in the Gulf. The debate was heated, with six local captains giving frank and honest opinions on the yachting restrictions they face in the Gulf region.

Discussion from the floor questioned the flag and regulation problem that foreign flagged vessels face when wishing to charter and cruise in the United Arab Emirates. Legal experts, Michael Day and Fred Carr were sympathetic to the issues, and focused on the solutions, which will hopefully come in the form of new UAE legislation.

The afternoon provided delegates with a chance to visit the Abu Dhabi Yacht Show, which earlier in the day was opened by His Highness Sheikh Sultan Bin Tahnoon Al Nayyan, Chairman of the Abu Dhabi Tourism Authority. Followed by a spectacular Cocktail reception dockside. Live music, a great atmosphere and party overlooking the 20 super and giga yachts rounded off a fantastic day.

More at http://www.superyachtevents.com/gulfsf/index.asp