Fraser Reports 2017 Performance at Monaco Yacht Show
For many, the Monaco Yacht Show 2017 marked the end of the Mediterranean yachting season once more. The annual event traditionally acts as a barometer for the buoyancy of the yachting industry as a whole and offers brokerages the opportunity to report their sales and charter performances to the international yachting community. Fraser took the chance to host a select group of journalists and industry professionals on the 45.01m M/Y SCOUT. The world’s leading full-service yacht brokerage was delighted to announce strong sales, charter, and new-build figures for the first 8 months of 2017.
A Fittingly Picturesque Setting
The scenic sun deck of M/Y SCOUT offered the perfect location for the Press Breakfast: guests enjoyed a panoramic view of Monaco’s Port Hercules from a stunning superyacht that was built with a passion for seafaring in mind. Part of a high-quality design from Ron Holland, the long-range superyacht boasts a selection of spectacular outdoor spaces, a beautiful bridge deck Owner’s suite that affords privacy, and hints of yellow that are incorporated to underpin the fun nature of yachting. M/Y SCOUT was one of 17 yachts that were flying the Fraser banner during the Monaco Yacht Show 2017 – an impressive selection of vessels with a staggering combined length of approximately one kilometre.
Lisa Peck, the Global Marketing Manager of Fraser, started proceedings, remarking on the brokerage’s milestone anniversary and its vision for the future, before thanking the company’s partners and sponsors. Discussing the performance of the industry as a whole and the brokerage’s sales, charter and new-build numbers, Raphael Sauleau, the CEO of Fraser, then continued.
Yacht Sales in 2017
2017 has returned strong brokerage results for the yachting industry so far, with 324 yachts sold compared to just 296 yachts sold by this time in 2016. Fraser once again produced an industry-leading performance, with more yacht sales closed than any other brokerage for the seventh year running.
The average length of sold yachts has, however, fallen this year, with the majority of yachts sold being between 24 and 50 metres in length. So far in 2017, 42% of yachts sold were in the 24-30m range, and 35% in the 30-40m range. Nevertheless, as Mr Sauleau pointed out, ‘we still have one quarter to go,’ with results from the Monaco Yacht Show and the upcoming Fort Lauderdale International Boat Show still to be seen.
The performance of Fraser in 2017 has been particularly good, with the brokerage again outpacing the field significantly, selling an impressive 32 yachts. The first two quarters were particularly excellent, with a great deal of activity in the American and European markets.
Regarding the results, Sauleau said:
‘Once again, I’m very happy to tell you that Fraser has sold the most yachts in the industry for the first eight months - by approximately 40% more than most of our competitors. Of the 32 yachts sold to date, 10 were in-house deals. We are very pleased with the outcome of the first eight months of the year and have good prospects for the final quarter.’
New-Build Projects in 2017
In 2017, the yachting industry saw a slight drop in new-build constructions over 40m, with just 189 yachts being built, compared to 215 yachts under construction in the same period last year.
As Mr Sauleau remarked, the reduction has been seen across all segments of the industry. Nevertheless, 189 still represents a strong result. Fraser was once again highly active in the new-build market and the brokerage has exciting news to come.
Sauleau commented: ‘189 is still a good number. Of course, once again, Italy is the most productive country, with about 76 yachts under construction, followed by the Netherlands with 49 yachts under construction. When it comes to Fraser per se, we have a number of projects currently under construction, and we have just signed another large new-build project – the champagne is in the fridge. I cannot divulge the name at this point.’
Yacht Charter in 2017
After a slow start in the spring, charter bookings picked up dramatically from mid-April and ultimately delivered very good numbers for the charter division of Fraser and for Owners of charter yachts.
Post-Hurricane Charter Season Projections
The entire yachting industry has been devastated to see the hurricane damage inflicted on the Caribbean, but Fraser had some cautiously optimistic news to share at the press briefing about the upcoming winter charter season in the affected region and further afield.
The exact impact that the hurricanes will have on the Caribbean charter season is still unknown, but Sauleau passed on what they’re hearing from their network, including the welcomed news that there have been no charter cancellations at this stage:
‘We do know that there are some positive reports from the islands and marina managers. Lots of efforts are being made to ensure the marinas are up and running as timely as can be. The hotels will be re-opening as soon as possible too. All the news we’ve received so far has been very positive. We have had some bookings, which have not been cancelled; the clients are still keeping their charter bookings. Obviously, some are looking for different itineraries, so that’s something to keep an eye on.’
Sauleau continued by highlighting a slightly higher interest in alternative cruising destinations, such as Asia and the Maldives.
Fraser’s Role in the Caribbean Recovery Effort
Fraser has been actively involved in the recovery effort in the Caribbean region, assisting aid organisations and working with Captains and clients to suggest ways they can donate and help. Fraser also announced that the brokerage working on a project to deliver additional relief to the islands – details of which will be released at a later date.
Fraser and the Future: Favouring Partnerships, Not Parties.
Founded in 1947 by David Fraser, Fraser has grown to become the world’s leading luxury yachting company. Marking 70 years of operation in 2017, Fraser sent the message that it was a year to celebrate with partnerships rather than parties, using the press briefing to outline a thoroughly forward-looking strategy of sustainability and growth. Fraser defined a strong focus on forming partnerships with complementary brands, foundations, and charities, as well as expanding the company’s presence worldwide, eschewing the expected path of throwing an anniversary party at this year’s Monaco Yacht Show. The idea is to help secure the future of not only the Fraser brand but of the yachting industry itself.
Lisa Peck, Global Head of Marketing at Fraser, stated the brokerage’s outlook:
‘We’ve decided that we’re not going to celebrate by throwing a party. We wanted to do something a little bit different. And, as a result of that, we’ve launched several different initiatives this year, which are focussed on making sure that Fraser is here for at least another 70 years, but also the industry as a whole. We want to make sure that this industry survives and continues to grow and thrive as it has done recently.’
Fraser Partners with Plastic Oceans
Fraser made a momentous and encouraging decision this year to partner with Plastic Oceans Foundation, a global charity that aims to change the world’s attitude towards the use of plastic. Fraser has put its collective energy behind the Plastic Oceans initiative, acting as ambassadors and collaborating with the charity to reduce the use of plastic across the Fraser fleet, as well as drastically minimising the use of plastic in the brokerage’s worldwide business operations.
‘We are very keen to preserve our environment,’ commented Sauleau. ‘Also, we conduct our business from the sea, so what is more natural than to partner with Plastic Oceans?’
The brokerage’s efforts include its support of CanO Water, a company that produces stylish and resealable aluminium cans of spring water - ideal for use on yachts. Fraser is advocating the product, recommending that yachts swap from plastic bottles to CanO Water. Vins Sans Frontieres can directly supply the product to yachts.
Fraser Partners with Porsche
This year, Fraser also partnered with luxury brands that complement its brand and further elevate the company’s quality offering to its VIP clients. As luxury brands, Fraser and Porsche are a complementary match and together launched the Ultimate Service, whereby Fraser clients can rent super-spec racing Porsches, which are delivered directly to their yachts. Moreover, clients can elect to enjoy incredible driving experiences through the partnership, such as track days at Le Mans.
As part of the Porsche-Fraser collaboration, Fraser clients at the Monaco Yacht Show 2017 were treated to chauffeur services in a fleet of Porsche Panameras. Two of the fleet sported hybrid technology, which is in keeping with the companies’ joint focus on the environment.
This focus was also manifested through the new partnership between Fraser and UJET – a revolutionary electric scooter that combines functionality, elegance, design, and mobility. The folding mode of transport is perfect for the yachting industry: it is light, compact and has a range of up to 150km from just one 2-hour charge. Andrew Sproston, UJET's Global Corporate Sales Director, was on hand to say a few words about the innovative new product.
Fraser Expands its Presence in the Middle East, Palma, and London.
On the back of the company’s strong sales and charter performances in 2017, Fraser made the decision to partner with a company in the Middle East called Seas & Deserts. The strategic move provides access to markets in Bahrain, Dubai, and Qatar, specifically. Furthermore, Fraser is expanding its presence in Palma de Majorca and London, with additional brokers joining teams in these locations.
Fraser Rebrands in its 70th Year
The 70-year mark has also seen Fraser undergo a rebranding to better reflect the level of luxurious service that the brokerage provides its clients, with a refined logo, an altered brand name, a website redesign, and a refreshed palette of colours.
Sauleau closed the Press Breakfast with a word of thanks to those in attendance.