Southeast Asia

Pic: Brunswick Corporation

Global Recreational Boat Market to Reach $50 Bln by 2023

The global recreational boat market is expected to reach revenues of more than $50 billion by 2023, growing at a CAGR of approximately 4 percent during 2017-2023, said a research report.The exponential growth of the travel and tourism industry across the European region will positively impact the development of the global market, said the market report by Arizton on the global recreational boat market."The rapid economic development and the increasing demand for charter services in Southeast Asia will boost the demand for new products in the market.

Photo: KRSR

KRSR Recognized as a World-Class Yachting Event

Set at the iconic Kata Rocks Resort, the 2017 Kata Rocks Superyacht Rendezvous (KRSR), co-sponsored by Infinite Luxury and Feadship, cemented the event’s elite status as one of the most important superyacht gathering in Southeast Asia, further developing Phuket’s reputation as the region’s fastest growing yachting hub. From December 8-10, 2017 the invitation-only rendezvous attracted a growing number of superyacht owners, leading luxury yachting brands, prestigious shipyards and the most respected brokerage houses who leveraged the event’s growing prestige to launch new products in Asia.

Photo courtesy: Supratechnic Pte Ltd

Mercury Marine Ties-up with Supratechnic

Mercury Marine that it has entered in to an exclusive distribution agreement with Supratechnic Pte Ltd, one of the largest marine distributors in Asia, based out of Singapore. This partnership will allow Mercury to expand and build a regional distribution channel in Southeast Asia that will include all of Malaysia, Indonesia, Singapore and Brunei. "This new relationship will allow Mercury to further penetrate the commercial market in Asia, giving us the opportunity to grow both in product range and territorial expansion," said John Pfeifer, Mercury Marine president.

Damen Takes on Six Viking River Cruises Vessel Jobs

Damen Shiprepair Amsterdam (DSAm) reports that it is currently working on a modification and maintenance contract for six inland cruise vessels owned by Viking River Cruises. With this winter service complete, all six vessels – known as longships – will be ready for the coming river cruise season. The Viking Idi was the first of the six to arrive at the yard in late December 2015. Sister ships Viking Idun, Viking Kvasir, Viking Kara, Viking Hlin and Viking Gullveig will follow consecutively.

The Piracy & Armed Robbery Map  (Source: https://icc-ccs.org)

Maritime Piracy: Attacks Down, SE Asia Remains Problematic

While the issue of maritime piracy has largely fallen from the public eye, with the rapid evolution of the 24/7/365 news cycle and a never-ending list of new and globally interesting headlines, such as Ebola, there remains concerns of piracy’s effects on the broader maritime market, particularly in SE Asia. According to the International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) latest piracy report, maritime pirate attacks globally are down for three years running, but there is a worrisome trend of small tanker hijacks by armed gangs escalating in Southeast Asia.

Photo courtesy of RCCL

Quantum of the Seas to Embark on World Tour in 2015

World Travelers will not need to trek out to New York City to catch Quantum of the Seas, the most anticipated cruise ship to-date. The ship will come to them. Royal Caribbean International has announced the details of the Quantum Global Odyssey, a 53-night epic journey, departing May 2, 2015, from the New York-metropolitan area to its new home in Shanghai (Baoshan), China. Quantum of the Seas will take its never-before-seen-at-sea experience globally to savvy vacationers after the ship’s inaugural winter season in New York from Nov. 2014 through Apr. 2015.