Superyachts for hire: Australia opens doors to foreign charters
New rules around chartering will allow the world’s floating palaces to stop here and earn their keepAustralia will lay down the welcome mat to more than 5000 foreign-owned superyachts worldwide after making changes to chartering laws allowing them to earn money while laid up here.
The move, expected to be introduced soon after its second reading in Parliament yesterday, will allow industries as varied as florists to tour guides and upmarket food services to tap into the international superyacht traffic heading to either Japan for next year’s Olympic Games, or New Zealand for the Americas Cup.
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The Special Recreational Vessels Bill 2019 makes changes the existing rules that will remove the need for foreign-owned superyachts to be fully imported to Australia before they could start offering charter services.
Instead, passing superyachts will be able to apply for a temporary licence to operate as a charter service while in Australian waters.
The change is expected to be a financial boon for businesses from cafes to florists, tour guides and high-end food services across the eastern seaboard.
Under the terms of the 12-month temporary charter licence, superyachts will will need to make a minimum of five voyages to different ports to qualify.
Attracting superyachts
Industry lobby group Superyacht Australia said the changes to the charter rules had the potential to attract around 160 superyachts and create an extra 11,800 jobs and add $1.64 billion in revenue to the marine industry.
It said Australians dominated the superyacht industry, making up more than one in four of the world’s captains and crew.
“The government supporting superyacht charter in Australia means supporting over 14,000 crew: Australia’s new age and highly skilled seafarers,” it said in a statement.
“The main industries that will benefit will be tradespeople and small businesses. It is proven that each vessel spends 10-12 per cent of the vessel’s value each year in maintenance, service and repairs, which benefits predominantly small, family-owned businesses and their communities.
“The more vessels that visit Australia, and the longer they stay, the greater the broader economic benefits.”
It said the change to the chartering rules would allow Australia to catch up with other more superyacht-friendly countries in the region, including New Zealand, Tahiti and Fiji.
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