Middle East Yachting Conference (MEYC) 2023

The Middle East Yachting Conference was held on 28 February at the Mandarin Dubai, the day before the opening of Dubai International Boat Show (DIBS). The half day programme was packed with wide ranging presentations that addressed a number of key issues in the yachting industry, and paid particular attention to the development of the marine leisure sector in the Middle East.

Over 150 delegates were in attendance. Regulations, infrastructure and the needs of yachting owners were some of the key themes addressed during the day. An integral event on the DIBS calendar, the Conference was officially opened by HE Saeed Mohammed Hareb, Secretary General of the Dubai Sports Council, who commented that the Dubai has had a long-standing yachting culture, given its home-grown shipyard, Gulf Craft. The Middle East Conference and the Dubai International Boat Show have both come of age, and Dubai is now a new marine destination hub in its own right.

The morning panel discussions looked at how the Middle East mega projects are contributing towards making the region a superyacht destination. Dubai Harbour Marina was described as being a good example of this, and the 700-berth facility has become the host venue for DIBS. Captain Saif al Maheiri, Managing Director of the Abu Dhabi Maritime and Ports Authorities, explained: “Over the last two years we have dredged over 300km of channels to depths that allow for the movement of large yachts. We currently have some 4,200 berths in Abu Dhabi, with a number of new developments in the pipeline.” It was emphasised that with the Mediterranean being a summer destination, the UAE holds a potential of being a winter destination.

Several marina projects are underway in Saudi Arabia, with Jeddah and the Red Sea being developed as new destinations.  Luc Khaldoun, the director of new projects at Cruise Saudi, said, “It is important to develop the region as a destination, so it is not only about berths for yachts but also about good restaurants and hotels. Abdulla bin Habtoor, Chief Portfolio Officer of Shamal and Dubai Harbour Marina, emphasised that it was about “people identifying with the lifestyle”. Dubai Harbour helps Dubai residents to rekindle their link with the sea, but the facility also includes four restaurants, six retail outlets, and a number of other facilities. “Our biggest challenge is handling 200 yacht movements a day,” he said. More work needs to be done to network the marine leisure sector in the Middle East over the next ten years. This includes the easing of regulations and the establishment of new berthing and repair/refit capacity.

Another panel session addressed the future sustainability of yachting through design, and working towards zero emissions. Sarah Colbon, co-founder of London-based Bergman Design House, spoke about the company’s research and testing of new and more sustainable and recyclable materials for yachts. Francis Lapp, Founder and CEO of Sunreef Yachts explained that 50% of the company’s market currently involves eco projects and the work it is doing with solar panels. “We are building our first hydrogen-powered catamaran which is an 80ft yacht and will be launched in 2024,” he commented.

The evolution of global yachting from a female perspective was spotlighted by two prominent Emirati business women taking to the stage: Abeer Al Shaali, Deputy Managing Director of Gulf Craft and President of the new Leisure Marine Association MENA, and Eng Hanan Ekhzaimy, Head of Strategy at the Federal Transport Authority for Land and Maritime. A recently-signed Memorandum of Understanding (MOU) between the Ministry and the Association will facilitate new opportunities and support the future development of the sector in the UAE.

A session which focused on the Asia-Pacific was titled ‘Does the Tiger have a Tipping point?’ and the panellists were Nigel Beatty, Chairman of the Asia Pacific Superyacht Association, David Good, CEO of AIMEX (the Australian International Marine Export Group) and Superyacht Australia, and Ismail Hameed, President of the National Boating Association of the Maldives. Under review was the growth of both ownership and chartering across the region.

Good talked about the return of Australian-owned superyachts to their home port, resulting in a rise of the number of superyachts in domestic waters, from 59 to 120. “Prior to Covid, the largest superyacht in Australia was around 44m, but after Covid, there were nine yachts over 50m including one of 74.5m.

Beatty spoke of the anticipated increase in superyacht visits and rise in the number of enquiries from superyachts wanting to visit Japan. To cope with this expected increase of larger yachts visiting, some 10 superyacht dock facilities are under development in different cities across Japan, with all being able to accommodate 100m yachts and with half over 150m vessels, and these will be ready by 2025-26. Beatty also elaborated on the initiatives being made through discussions with the Japanese government to allow foreign-flagged yachts to charter in Japan. “There are three groups involved in this, including one with which I am actively involved. Beatty highlighted the need for the Asia-Pacific countries to work together to form a strong APAC network to support superyacht visits and promote the region as a whole.

Hameed commented that the Maldives has also seen a dramatic increase in the number of superyachts cruising and chartering in the region – an increase of 80% over pre-covid numbers. The local boating community has benefited from this influx, but current regulations and procedures will need to be reviewed in order to retain a greater percentage of the economic benefits within the Maldives. Hameed explained that current pricing sees superyachts paying less than local charter operations. He also mentioned the key role that Middle East companies such as Gulf Craft could play in yacht repairs to help support superyachts visiting the area.

Other topics included ‘the role of crypto’, and ‘a new generation of yacht owners’ which was the topic of discussion between three superyacht marketing gurus - Farouk Nefzi, CMO of Feadship; Mario Gornati, CMO of Azimut-Benetti; and Paris Baloumis from Oceanco. There was an update on the value of LEOS (low earth orbit satellites) for yachts in upgrading wifi and email communications for all seafarers, and some comments concerning the on-board yachting experience from a culinary angle, the work of chefs and how best to respond to the needs of clients. A progress update on Meyer Werft’s Two10 superyacht concept from Managing Director Thomas Weigend addressed issues such as sustainability and propulsion systems.

A late networking lunch followed the conference presentations. Many thanks to the sponsors of the MEYC: Oceanco, Arrow (Monaco), and The World of Yachts.