Malta has, over the past years, attracted a number of the world’s largest superyachts to its shores by offering good marina services and a number of ancillary facilities such as technical assistance and repairs, boat hoists and bunkering services. However, what does it really take to transform Malta’s reputation in the industry from one ideal for maintenance and refit facilities, to a location specifically chosen by superyacht owners and captains for its beauty and its ability to serve as a potential spectacular stop-over during regular charters?
With the yachting season in Europe at its peak period, there is no better time to discuss a sustainable future strategy for the superyacht industry in Malta and how best to utilise the resources available to make the country an attractive destination for visiting superyachts or boarding of charter guests. This was the central focus of the first edition of the Malta Superyacht Symposium held on the 6th and 7th July, which was organised by the Malta Chamber and the Malta Maritime Law Association.
Besides boasting a historic marina with modern facilities and an infinite choice of exquisite eateries, Malta can offer much more to cement its position as one of the main superyacht hubs in Europe. Spread over two days and a number of expert panel discussions, speakers and attendees coming from various sectors of the industry set out to debate innovative ways how to build on Malta’s position as a leading yachting jurisdiction, and how this can serve as a springboard to formulate a future strategy for the industry in Malta.
While giving due consideration to the regulatory aspect of the industry for both pleasure and commercial yachts, the Symposium also explored how the superyacht industry can offer excellent job opportunities to the younger generations wishing to embark on maritime careers, both on board and land-based. Local professionals and international stakeholders came together to discuss ideas how to tap into those areas which are yet untrodden, such as crew training and a better platform for brokerage by local agents. Dr Nicholas Valenzia, a Partner at Mamo TCV Advocates, also moderated a panel discussion specifically about the current brokerage trends and the issues associated therewith.
As the Symposium came to an end on its second day, a formal report was also presented to the authorities, highlighting practical recommendations resulting from the various panel discussions. While showcasing the achievements over the years which have led to a solid growth in the industry, the report also demonstrated a confidence in our local superyacht industry’s future development in the coming years.
Dr Nicholas Valenzia, a Partner at Mamo TCV Advocates, also moderated a panel discussion specifically about the current brokerage trends and the issues associated therewith.