jmpga.com

The Minister for Ports, Kim Yeadon, concedes that the cost of super yacht charters facilities – estimates range to $70 million – is one of the big issues facing Waterways.But the solution stands to benefit Sydney for as long as people thrive under capitalism.Helped along by the bull market in Wall Street, solid growth in Europe and emerging wealth in Russia, demand for super yachts is running at a record high. In America, the industry talks of backlogs, unfilled orders and a return to the days of the Vanderbilts.In April this year, there were 297 sail yachts under construction around the world, reports USA Today – a 15 per cent increase over last year. It speculates that demand will continue to increase as the super rich get richer.Closer to home, BRW’s Rich List shows the number of Australian super yacht owners (or at least those who have access to such boats) is growing as the rich increasingly turn to boats for their pampering, privacy and pose.