Every so often we like to visit the world of superyachts, as revealed in the pages of the monthly superyacht ‘bible’ Boat International. Why? It tells us whether the ultra-super-rich are still spending freely or battening down the hatches. The Global Financial Crisis sent a cruel wind through the leisure boating market and it took many years to regain its vigour. Long lead-times for ‘new-builds’ mean that economic conditions encountered when an order is approaching completion can be very different from those prevailing when the order is placed.
During the GFC, many ‘new-builds’ were mothballed as financing collapsed. Potential owners simply walked away, foregoing substantial deposits. Many boat-builders went to the wall – including some long-established and respected names.
Views and opinions have been arrived at by BMO Global Asset Management and should not be considered to be a recommendation or solicitation to buy or sell any companies that may be mentioned.
The information, opinions, estimates or forecasts contained in this document were obtained from sources reasonably believed to be reliable and are subject to change at any time.