Nice Boat, No Dock
Posted: May 20, 2013 | By: Jason Chow [Wall Street Journal]
OWNERS OF THE WORLD'S superyachts are running into a new problem as they set sail across the crowded seas: finding a place to park.
After years of rising yacht sales—including those of so-called superyachts, which exceed 30 meters in length—the most coveted marinas in the Mediterranean, the Caribbean and parts of Asia are telling owners there's no room at the dock, leaving some boat captains high and dry. Boat owners have reported shortages from Florida to New Zealand, while prices for berths are surging to new highs across the Mediterranean and elsewhere.
A berth in Antibes, in southern France, for instance, now costs the equivalent of about $2,600 a day or $78,100 a month for a 60-meter-long boat. Local real-estate agents are offering up to 16-year leases of prized docking space for as much as $6 million, according to reports by Lloyd's Register. "There is a huge shortage in high season," says Franc Jansen, director at yacht-management company Hill Robinson, which has offices in Antibes. "There are more boats, they're bigger, and finding space is getting really difficult."
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