Della Pearce, Hong Seh Marine Discusses Singapore’s Yachting Sector

The past few years for yachting in Singapore have been inconsistent, characterized by promising sales and initiatives countered by regularly altering regulations on group meetings, which have hindered cruising and charter activities.

It has been around two years since Covid disseminated globally, resulting in a pandemic. In Singapore, laws have been continually revised since the original 'circuit breaker' in April and May 2020, during which the majority of enterprises shuttered and schools transitioned to home-based learning. Following the lifting of the circuit breaker, the limitations on the number of individuals permissible for gatherings fluctuated between five, eight, and two, ultimately reverting to a month of home confinement.

In 2021, as numerous countries globally reopened to tourists, major events resumed, and stadiums filled, one could not help but have a sense of anxiety and frustration being confined in a small nation with frequently shifting regulations.

As of late November, in-person dining and social meetings were restricted to two individuals. At the time of writing, it had returned to five, regardless of whether group members belonged to the same family. All of this occurred with minimal overseas travel from April 2020 to June 2021. Since then, quarantine measures and the heightened complexities of travel have restricted international trips.

Local Attractions

Since early 2020, significant alterations to individuals' daily lifestyles have led to widespread frustration, as many have been unable to travel and have had to scrutinize spending their whole holiday or leisure time in Singapore. The epidemic has significantly impacted the tourism business, leading to an increased emphasis on domestic tourism.

Notably, yacht dealers have found it far easier to connect with new boat customers who were previously occupied with travel or other commitments. During the lockdowns, the absence of time ceased to be a valid justification.

Ultimately, it facilitated connections with boat owners and prospective leads, disseminated new digital assets from shipyards, and provided additional time to navigate the purchasing process.

Dealerships with inventory boats and assistance from yards were unequivocally more advantageous. We possessed stock boats that initiated discussions with numerous prospective leads. These consumers would have the opportunity to experience the qualities of new boats, leading to either the purchase of the stock boat or the ordering of a customized vessel from the yard.

Historically, the objective with stock boats was to ensure their availability, however most dealerships and shipyards would synchronize the arrival of their stock boats to coincide with boat shows. These events were excellent opportunities to showcase a new model; yet, stock boats occasionally remained unsold if market conditions had shifted.

Currently, dealers purchasing stock boats are increasingly pursuing purchasers year-round, leading to a greater number of new boats being launched in Singapore.

Brokerage Advantages

Singapore has experienced a substantial rise in the exchange of brokerage boats during the past year. At the onset of the epidemic, it appeared that individuals were eager to sell boats at any price due to apprehension in the global financial markets, alongside the uncertainty surrounding the virus and its potential impact on livelihoods.

The subsequent trend was individuals relocating from Singapore. Both circumstances introduced a substantial quantity of comparatively economical boats into the market. The primary beneficiaries were families or couples who perceived boat ownership as an escape from typical activities in Singapore.

Within six to twelve months, boats were sold as rapidly as they were listed. Prospective boat purchasers must typically provide a deposit immediately to secure the vessel against competing buyers.

A notable element in the brokerage industry has been the adoption of Singapore’s local boat driving course (PPCDL), which has facilitated the entry of new boaters into the market.

Charter Modifications and Amendments

The focus on domestic tourism has extended to the yacht charter and boat rental sectors. Notwithstanding an extraordinary circumstance for charter operators, the market has expanded significantly since the onset of the epidemic.

Although unable to accommodate a full complement of visitors, charter operators seized the opportunity to provide diverse experiences reflective of Singaporean culture, like 'Staycation at Sea,' 'Catch and Cook Fishing,' and 'Heritage and Culture Ride,' among others.

Nevertheless, limitations on the permitted number of people aboard were occasionally modified overnight, leaving charter guests with minimal alternatives but to either reschedule their charter or proceed with a reduced guest count. Guests were had to postpone their charter arrangements, and there were instances when consumption of food or beverages was prohibited on board, necessitating the continuous use of masks.

Water Sports Expand

Prior to Covid, excursions to the Southern Islands constituted the primary focus of watercraft activities. Escaping the sweltering, humid metropolis of Singapore, one is welcomed by pristine waterways, unpolluted air, and a lack of crowds, rendering it an optimal respite from urban existence.

Angling is a prevalent aquatic pastime involving watercraft. Singapore boasts a varied array of marine life, coral reefs, and substantial structures that serve as habitats for grouper, trout, and snapper. During swift currents, there are multiple sites to pursue pelagic species such as trevally and queenfish.

In general, all boating activities have increased during the epidemic, with regattas fully booked, weekly dive trips occurring, and wake sports remaining highly popular.

Every weekend, there is a significantly greater presence of kayaks, paddleboards, jet skis, and boat excursions than previously observed. Significant attention has been placed on the sustainability and conservation of marine life, highlighting the initiatives of the National Parks Board (Nparks) and other organizations effecting change in Singapore.

Della Pearce

Pearce (née Rugdee) commenced her career in the boating sector in 2005 and currently serves as Sales Director at Hong Seh Marine, which represents Ferretti Yachts, Riva, Pershing, Boston Whaler, and Schaefer in Singapore.

Della Pearce, Sales Director at Hong Seh Marine