Taiwan's yacht orders to be fifth worldwide in 2005

January 17, 2005

Taiwan's yacht building industry has already received orders to build 44 yachts in 2005, placing it in fifth place worldwide behind Italy, the United States, the Netherlands and England, according to figures published in the US yachting magazine ShowBoats International.

This figure, however, does include orders that are expected to go to new yacht builders that will set up in the Shin Da Yacht Manufacturing Zone, which is scheduled to open in 2005. The zone will cover 46.5 hectares at Kaohsiung Harbor, making it the largest such zone in the Asia Pacific region.

The Industrial Development Bureau expects fifteen enterprises to invest a combined NTD 3 billion or more in order to move into the zone. These investments are projected to help raise the production value of Taiwan's yacht makers to NTD 10 billion, and put Taiwan in third place globally, following Italy and the United States, for the construction of superyachts (vessels 80-feet or longer).

The yacht zone is even reported to have attracted the attention of English and US yacht industry investors. Such investments would further enhance Taiwan's international yacht building reputation.

In addition to those enterprises establishing factories in the new zone, other Taiwanese yacht builders are investing NTD 1.5 billion in factory expansions with intentions of broadening their international markets.

Taiwan's yacht industry has been around for 30 years. 1987, when Taiwan exported 1,755 yachts worth USD 190 million, was the industry's best year. However, following a decline in export value in the 1990s, the industry has begun to rebound. In 2001, it exported 296 yachts with a total value of USD 171 million, up 16% from the previous year.

These figures reveal an interesting trend in among Taiwan's yacht makers. Whereas in the past Taiwan produced a large number of small yachts, it has subsequently begun to focus on superyachts and special custom orders. This means that while the total number of vessels built has declined, the value per yacht has increased dramatically. This has kept the industry's export value relatively stable despite a decrease in the number of yachts exported.

(United Daily News)

E-mail this page.