Cluster Yachting Monaco – Winter Pop Up
Screenings, digitalisation and customs regulations for this 2nd winter meeting
Tuesday 12th October 2021. Over 200 yachting professionals attended the 2nd Winter Pop Up organised by Cluster Yachting Monaco at the Yacht Club de Monaco. It’s been seven years since these seasonal Pop Ups were launched for the Principality-based yachting industry, and stakeholders continue their commitment to developing synergies and exchanges. As well as debates led by a panel of expert speakers, a dozen yachts were on display in the YCM Marina.
Welcomed by Cluster Yachting Monaco President, Bernard d’Alessandri, delegates attended three sessions to discuss industry, digitalisation and its impact, and updates across the board on customs regulations.
According to Toby Maclaurin, Sales Director at Ocean Independence, latest trends in the superyacht sector indicate a surge in global sales, a view shared by Patrick Coote, Managing Director N&J Europe who was optimistic for 2022. Nic Robinson, head of Boat International confirmed the view recalling that there are now 11,712 yachts of +24m yachts in the world, adding “we should end this year with 600 additional sales, a record number since 2008”. Abdullah Nahar, Director of Yachting Partners International pointed out Covid had boosted sales “because the yacht remains a safe and secure place as customers who chartered before have gone on to buy one in 2021”.
Rules to remember
Chaired by Janet Xanthopoulos, Director Rosemont Yacht Services, the discussion on VAT and customs regulations was an opportunity for Christopher Pousse, H&V Yachting associate and Gérard Vincent, deputy head of the business unit at the regional customs department in Nice,gave a detailed overview of the regulations in force and to come applicable in Monaco, France and Italy. A new VAT calculation system for charters; the Italian VAT exemption procedure for commercial yachts; differences between French and Italian commercial exoneration; importation under French commercial exoneration and reverse charge system; the way APA is taxed in France and Italy; end of zero-rated fuel in Italy; the transport contract and how it applies in Italy; and the impact of Brexit on the VAT status of yachts registered in the UK, were the focus of the second session.
Digital technology crucial
A packed, varied agenda ended with a discussion on the importance of digital technology to the sector. Naval architects Espen Oeino and Martin Francis,Director Marketing & Business Development at Fraser Yachts Mark Duncan, Director Catalano Shipping Services Laurent Certaldi and Founder-Director of SuperYachtTimes.com Merjin de Waard took turns to discuss their vision of digital tools and how they are being applied in their areas of expertise. All highlighted the explosion of views on websites and social networks or communication platforms like WhatsApp.
Post-Covid-19 has forced the industry to reinvent itself and adapt to new ways of operating. “Requests for information on our website have soared by over 49%,” noted Mark Duncan, Director Marketing and Business Development Fraser Yachts, “Our posts on social networks now have 9.2 million views a month, with Twitter and Facebook recording the biggest increase in traffic”.
While digitalisation is an obvious facilitator for external communications, it is also having a big impact on management especially for everything related to accounts, managing documents and operational management.
Yachting professionals will meet again soon at the Cluster Yachting Monaco’s AGM on 19th October 2021.