BY APB Staff on 19 May 2020

Leading superyacht organisations cite concerns over Covid-19

The Superyacht Builders Association (SYBAss) and the Large Yacht Brokers Association (LYBRA) have reportedly announced their intention not to participate in the forthcoming Monaco Yacht Show, scheduled for September 23 to 26, citing concerns over Covid-19.

Lybra And Sybass Withdraw From 2020 Monaco Show 1

SYBAss represents 21 builders, including Abeking and Rasmussen, Benetti, CRN, Feadship, Horizon Yachts, Damen Yachting, Sanlorenzo, Oceanco, Perini Navi and Royal Huisman. LYBRA represents eight of the world’s biggest charter and brokerage firms, including Burgess, Edmiston, Ocean Independence, Northrop and Johnson and Fraser Yachts.

According to SYBAss, its members account for 60 per cent of yachts over 40 metres currently afloat.

Lybra And Sybass Withdraw From 2020 Monaco Show 2

For their part, Monaco Yacht Show organisers have said that they are working on establishing protocols to ensure a safe show for visitors and exhibitors. Organisers of the Cannes Yachting Festival, which takes place from September 8 to 13, have recently announced their intention to go ahead with their show.

The Monaco Yacht Show is the world’s pre-eminent superyacht show, last year hosting 30,000 visitors. Organisers reported that 211 VIPs used the show’s concierge services, with the majority of these clients coming from the US, Russia, England, China and India. The show hosted 125 superyachts with an estimated value of over US$4 billion.

In response to the calls from LYBRA and SYBAss to cancel the Monaco Yacht Show, organisers released the following statement to press: 

“The 2020 Monaco Yacht Show is currently scheduled to take place from 23 to 26 September. The organisers have been working closely with the Principality of Monaco in recent weeks to assess the best format for this year’s event in the aftermath of Covid-19. This will ensure the highest standards of hygiene, cleanliness and safety, whilst continuing to provide the international yachting community with an invaluable platform to connect with customers, share ideas and help support the speedy recovery of the industry. Further details will be confirmed later this week.”