Rudy Rinaldi and Boris Vain wrapped up Monaco’s overwhelmingly successful Winter Olympics with a sixth place finish in the two-man bobsleigh event following four incredible runs in Beijing, scoring Monaco’s highest Olympic finish in the process.
Lightning-quick, precise and consistent. Rinaldi and Vain and Anthony Rinaldi signed off in style on Tuesday, finishing just 0.51 seconds off an unlikely podium place. The team were consistent throughout, setting up an opportunity for an Olympic medal through some hard graft during Monday’s heats, leaving them right in contention.
An incredible 3rd run earlier on Tuesday left the Principality dreaming of bringing home an Olympic medal, with just 21 hundredths of a second between them and the bottom step of the podium.
On the day, Monaco were outdone by a trio of German teams, who secured a clean-sweep of the podium, Francesco Friedrich taking the gold.
Although it wasn’t to be for the Monégasque bobsleigh team, as they slipped back to sixth position in Tuesday afternoon’s final heat, the result is nonetheless the best of any Monégasque winter Olympian, whilst it is also a huge improvement on their 19th place finish in the 2018 Winter Olympics.
This latter achievement meant a lot to Rinaldi in particular. “We struggled a lot these past four years. I think we knew one day that we could fight for this. So of course, we’re happy,” he said post-race. The Monegasque bobsledder also expressed his happiness for his representative country, saying, “We’re happy for Monaco.”
Considered in its entirety, this has been an exceptional Winter Olympics for Monaco. Earlier, flag-bearer Arnaud Alessandria secured the highest finish of any Monégasque skier with his 13th place in the Men’s combined race. Rinaldi and Vain’s heroics on Tuesday ensured that these Olympics will live-long in the memory of Monégasque sporting fans.
The Covid-19 pandemic presented the world with unprecedented challenges to nearly every aspect of life. Throughout the past two years, we’ve witnessed the dynamics of society halt, twist, and transform; economies plummet, rise and equalize; and the personal lives of billions metamorphosize beyond our wildest imaginations. Within the context of the luxury brokerage and travel market, Covid-19 continues to represent unconventional hurdles, yet also unique opportunities – particularly for luxury yacht sales and charters.
As the virus continued to show no signs of submission or weakness in 2019, governments globally took their own unique approach to maintain life as they knew it while adapting to the uncertainties of a novel virus. Consequently, international travel restrictions increased and domestic requirements and health guidelines saw a shift in fluidity and intensity. As a result, work, education, retail and even healthcare began to shift into the digital realm, bringing forth feelings of constriction, claustrophobia, anxiety and discomfort across the globe.
Hence, the real estate market experienced a boom. People’s residential consumerism began to shift and change. Some ultra-high net worth individuals sought shelter away from being cooped up in the cities. In essence, people were looking for ways to help manage the new aspects of life presented by the impending impact of the virus.
Given that need, yacht brokerages around the globe mobilized and began implementing ways in which people could adhere to the law at hand while setting sights on new terrains, or waterways, without sacrificing their health. Luckily, luxury yachts present the perfect alternative to being confined at home. They offer an escape. Whether you’re looking to purchase a superyacht for a multitude of adventures, or take a yacht charter to an unfamiliar place, luxury yachts are appealing across the board during a time when the “near future” seems as unpredictable as the past two years were.
With that being said, 2021 was truly a remarkable year, and an impressively successful year specifically in the luxury yacht brokerage sector for purchase, sale, charter and virtually every aspect of the business.
The genesis
When the pandemic hit in 2019, the yachting sector was at the beginning of its shift. For the entire marine industry, business slowed in March – selling 25 yachts despite impending market turbulence. However, as the year continued, yacht sales began to increase throughout the year – rising to 64 closings in May and 59 in December. This matched the overarching trend of society at the time, having initially experienced discomfort and turbulence at the virus’s start yet demonstrating adaptation and resilience about the physical restrictions at hand.
Northrop & Johnson’s Blue Moon
The Fall
Despite this success, the year 2020 brought forth entirely new challenges. The conclusion and recovery of Covid-19 seemed more distant than ever, and the wellbeing of citizens was seemingly insecure.
During this time, yacht brokerages far and wide worked hard to support their employees and maintain their services wherever possible. However, despite the determination, the economic decline was breaching all aspects of the business. Industry-wide, the average for yachts sold in 2020 was 35.42 closings per month, the most significant success occurring in December with 59 yachts sold.
The yacht brokerage industry is adaptable. It was inclined to bounce back, getting clients on the water aboard the luxury yachts perfectly fitted for them.
Shifting gears
In December, brokerage firms recognised the shift in momentum, pushing their sights to the promises of a new year and hitting the ground running – a trial that certainly paid off. On average, yacht brokerage listed 48.25 yachts per broker across the top 12 firms and maintained an average inventory value of €381,189,160 across the top 20 firms.
“Northrop & Johnson enjoyed a banner year in 2021,” says Northrop & Johnson’s European Director Patrick Coote. “We sold 141 yachts in total in 2021, with 66 of those yachts larger than 24 meters. Furthermore, we managed to sell the most CA listings of any yacht brokerage in 2021, 41 in total. And this was 41% more CA listings than any other brokerage in the world.” Coote continues. “Furthermore, Northrop & Johnson was able to sell these yachts faster than ever before, ensuring some of the shortest times on the market we’ve seen in recent history.”
The average number of luxury yachts listed per brokerage firm in 2021 was 59, with a maximum of 75 yachts for a total value of $792,485,094 and a minimum of 16 yachts for a total value of $49,885,560.
“Northrop & Johnson had 73 yachts larger than 24 metres listed for sale in 2021 for a total value of €638,797,299, one of the top two highest values of any sales fleet,” explains Coote. “Our clients entrusted us with their prized possessions and we do not take that responsibility lightly. When selling a yacht, our focus is solely on the client. Ensuring a timely sale at the best price is the number one priority.”
When breaking down these impressive statistics, it’s important to note what was hot in the 2021 yacht market. This year’s sales included yachts from 34 different builders, with total sales of 47 Sanlorenzo yachts being sold. The year’s top three builders listed were Sanlorenzo with an impressive 47 yachts, Sunseeker with 39 yachts, and Benetti with 37 yachts. These yachts are known for branding the market with the modern ‘sleek and sexy’ look considered highly desirable for today’s owners and charterers.
It’s also interesting to note length variance regarding the types of yachts sold in 2021. For yachts 29.9 meters and under, 271 yachts were sold, 39.9 metres and under, 246 yachts were sold, 49.9 metres and under, 126 yachts were sold, 64.9 metres and under, 50 yachts were sold, and for yachts 65 meters and over, 25 yachts were sold.
This data suggests that yacht appeal across the ranges has increased overall. However, the appeal of smaller, more personal yachts has taken a firm hold. This makes sense given the fluidity of Covid-19 restrictions, for both activities and personal interaction. With limited party numbers, minimal spaces allowed for the congregation, and consequently less public activity available, smaller sailing, motor and sportfishing yachts are becoming popularised to ensure on-water activities with adherence to local law. Albeit yachts larger than 100’ remain highly desirable.
Northrop & Johnson’s Solo 1
Major success
Despite economic and market barriers, the yachting industry flourished in 2021, paralleled only by a few years prior. When compared to the past five years specifically, the 2021 luxury yacht brokerage industry skyrocketed and transcended sales from previous successes: having sold 61 yachts in March, 56 yachts in April, 81 yachts in May, 90 yachts in June, 47 yachts in September, 49 yachts in October, 59 yachts in November and 82 yachts in December. In total, 718 yachts were sold across the top 12 firms, with an average of 59.83 yachts sold per month. This number is striking, given that the previous averages were 35 yachts sold per month in 2020 and 41 yachts sold per month in 2019.
“One of our proudest achievements at Northrop & Johnson in 2021 was the growth and successes in our European offices,” says Coote. “I am thrilled to say we are the fastest-growing brokerage in Europe and our extraordinary teams in our Monaco, Antibes, Palma and Barcelona offices rose to the challenges they faced.”
After the low of 425 yachts sold in 2020 with the economic decline and the previously highest number of 583 yachts sold in 2017, 2021’s industry success of 718 yachts is even more relevant. In parallel, Bloomberg analysis reported that asubtle correlation of two shifts within the U.S. economy and the luxury yacht market supports the notion that as the economy improves, so does the luxury yacht brokerage market, despite Covid-19 limitations. As such, it can be concluded that luxury yachts pose an appealing alternative to residency, vacation, and wellness during the Covid-19 pandemic.
“Looking ahead, there is more success on the horizon in 2022,” predicts Coote. “The trajectory is decidedly up and there seems to be no evidence of the market slowing in the sales and charter sectors. We are already reporting 50% of the 2021 charter booked for summer 2022. As people become more comfortable navigating our collective ‘new normal’ they are making plans and taking the trips they had long put off. As such, the charter market is likely to see high demand this summer, so the advice is to book early. In a similar vein on the sales side of the business, now is the time for sellers to put their yachts on the market and for buyers, if you see something you like, make that offer as its likely to move fast.”
The latest report by IMSEE, the official statisticians of Monaco, shows that 2021 continued the trend of warmer, drier conditions with rainfall levels down and temperatures up.
Not a single day in 2021 saw the mercury go below freezing. Last year, the lowest temperature clocked was +4.1ºC.
On the other end of the spectrum, last year was a notably hot year, especially in the summer period when temperatures were above normal for most of the season. There were a series of heat waves that punctuated the summer as well, making an already hot summer even hotter. The warmest day recorded was on 13thAugust when the mercury hit 34.2ºC.
Autumn didn’t bring its usual relief from the heat, though spring was a bit on the cool side compared to normal.
The yearly average for 2021 was 17.09ºC, a slight decrease on the year before and a bit below the warmest year, 2019, which hit averages of 17.9ºC.
The number of hours of sunshine was slightly down in 2021 than the year before, with last year seeing 2,543 compared to 2,590 in 2020, equalling 47 less hours of sunshine. However, the sunny days were varied according to the time period. March, for example, saw 73 more hours of sun than normal, whilst April had 61 fewer hours. November and February each had 35 fewer hours of sun as well.
Rainfall totals were also down in 2021. There were 496mm of rain over the course of the year, an amount well below normal. There were also five fewer rainy days than the average over the past several decades, with 58 days compared to the usual 63 days. A lack of intense meteorological episodes over the whole year explains this deficit, says IMSEE.
Oddly, January, February, April and May averaged more rain than the norm, while March June and October were on the low side. March was particularly dry, with rainfall totals of just 9.2mm compared to the normal 41.9mm. June followed a similar pattern with only 2.5mm of rain as opposed to the usual 34.6mm. But it was October that saw the biggest deficits, with -101.4mm rain as opposed to normal.
Windy days were in the normal range, with 46 days seeing gusts in excess of 60km/h. This falls in between the 40 days of high winds in 2020 and the 50 days in 2019. The strongest winds were reported on 15thNovember when the weather station on the roof of the Oceanographic Museum saw a dramatic gust of 93.2km/h.
Since the 1970’s in Monaco, each decade has progressively shown an overall rise in average temperatures on the previous one.
Statistics for the past 10 years show this to continue to be the case.
Photo of Larvotto beach by Benedetta Pizzonia, Monaco Life
Alick and Albert wins Special Jury Prize at film festival
A documentary film starring Prince Albert II and Badu Island artist Alick Tipoti has won the Special Jury Prize at the 19th International Oceanian Documentary Film Festival held last week in Papeete, Tahiti.
Documentary film Albert and Alick is, on the one hand, an unlikely film about an unlikely friendship that grew between two strangers from completely different worlds. On the other, it is about two men who are both looking to stop the madness of global warming and protect the oceans that are near to both of their hearts.
Directed by Douglas Watkin, the film was first conceived after the chance meeting between the Prince and Australian artist Alick Tipoti at the Oceanographic Museum exhibition ‘Taba Naba: Australia, Oceania, art of the peoples of the sea’ in 2016.
An off-the-cuff initiation for Prince Albert II to visit Tipoti’s small island home of Badu Island in the Torres Strait off Northern Australia launched a relationship between the two men that led to the Prince visiting Badu in 2018 as part of a Monaco Explorations mission. The hospitality was reciprocated in 2019, when Tipoti returned to Monaco.
Both trips were filmed, and the ensuing result was a touching and poignant picture of two people who, in their own ways, are striving to save the planet and make the world a better place. It is also the tale of diversity, man’s relationship with nature and a message of the importance of peace, tolerance, and understanding between cultures.
The Sovereign’s admiration for the work of Tipoti is evident, and respect for the Prince by Tipoti is equally clear.
“This connection between art, science and nature embodied by Alick Tipoti is simply remarkable,” the Prince said in a trailer for the film.
The 2022 International Oceanian Documentary Film Festival (FIFO), held from 5th to 13th February in the Tahitian capital of Papeete, celebrated this connection by awarding the film the Special Jury Prize.
FIFO selected a dozen feature films out of 120 submitted and presented them to the public at the Maison de la Culture de Tahiti and online on the Festival’s digital platform.
Presenting the Special Jury Prize, Beckie Stocchetti, Jury Member and Executive Director of the Hawaii International Film Festival, said, “The Jury was very impressed with this film which showcased the work of indigenous artists and talk about a global, planetary problem, climate change. This film is an inspiration to all of us to protect our oceans and all the marine life therein.”
The film festival was created in 2004 and has gradually brought in directors from Oceania and elsewhere to introduce the world to this region. The 2020 festival saw more than 30,000 attendees.
Monaco’s very own manga series, Blitz, is set to launch its sixth volume in just two years, finding huge success with an unlikely topic and putting author Cédric Biscay firmly on the map.
In a short 24 months, manga Blitz has gone from risky endeavour to bona fide hit.
The series, which combines the worlds of manga and chess, is the first manga produced between Monaco, France and Japan and has sold 50,000 copies to date in France alone.
The success is such that at Blitz’s recent focus week at Dubai World Expo, they were joined by Maxime Vachier-Lagrave, the current Blitz World Champion, and Sophie Milliet, European champ and six-time French champion. During this visit, the author disclosed a bit of insider news about the upcoming edition, a boon for fans gasping to see the next instalment.
“I have just returned from the Dubai World Expo,” Biscay said, “where I was able to see the installations dedicated to Blitz in the Monaco Pavilion. It was really great to play chess with the visitors and participate in such a great international event. I would like to take this opportunity to also announce that two great personalities from outside the world of chess will appear in Volume Six.”
The new story will be released on 25th February and follows the main characters to Kyoto, where they are involved in a national tournament. Some characters will reveal their true colours, and the main antagonist becomes clearer.
Blitz has gone from simple manga to sensation and even boasts an app, produced by Shibuya Productions, the manga’s publishers, which allows players to compete in matches with other fans or against the computer.
Blitz is special in that it also has world famous chess champion Gary Kasparov on board to help keep the chess match scenes relevant and true-to-life. Adding thrilling chess play to manga excitement, Volume Six is sure to become an instant success when it hits the shelves later this month.
La Belle Classe Academy, Yacht Club of Monaco’s (YCM) training centre, is organising the second edition of the Yachting Masterclass which starts 19th February 2022.
Conducted in English with lessons taking place twice a week, the intensive 10-week course offers a 360-degree view of yachting.
“The aim is to professionalise those involved in the industry by providing top-quality, accessible educational tools and resources and is part of the Monaco Capital of Yachting approach initiated by Yacht Club de Monaco,” said the YCM in a statement. “The aim is to encourage development and promotion of sea-related professions in Monaco and affirm the Principality as a centre of excellence.”
For this Yachting Masterclass, top experts from across the industry are coming to share their experience and expertise, including in particular interventions by representatives from Oceanco, Feadship and many more from across the entire supply chain of the yachting industry. “From superyacht design to yacht aviation, yacht and luxury marketing, insurance, classification, management, sales, sustainability, agents, yacht charter, family offices and more, all these topics are covered to give a comprehensive overview of this ecosystem.”
The Yachting Masterclass is dedicated to anyone who wants to gain a full understanding of this sometimes little-known industry.
“Those who have already signed up for our Yachting Masterclass include captains, industry professionals, yacht builders and aviation specialists from all around the world. If you want to invest in your professional development, you will leave the course with the equivalent of a Masters in yachting,” said Marcela de Kern Royer, organiser of the course. “Participants who complete the whole course will receive a diploma awarded by La Belle Classe Academy, confirming the candidate’s serious approach and diligence throughout the course, a real competitive advantage in the job market.”
The course is also available to do online, with the option to enrol for specific individual modules.
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