Yachting industry should mull land reclamation prospects

Malta’s yachting industry would benefit from land reclamation projects, similar to those undertaken successfully in Monaco and on The Thames, according to Edward Woods, managing director of Trader Marine Services Ltd.

“Land reclamation would need foreign investment, but there are certain sites in Malta which could strike a good balance with residential property to make marinas viable,” Mr Woods told The Times Business. “Providing environmental and hygiene rules are adhered to, there should be relatively few problems with marina creation. New marinas would go a long way to nurturing this industry and creating jobs.”

Mr Woods, whose company has represented leading boating brand Sunseeker in Malta for almost 20 years, has been in the marine business for three decades and chairs the Malta Chamber’s yachting division. One of the major and long-standing issues facing the industry is the shortage of berths.

He insists that the “best thing that is happening to the industry is privatisation”, hailing the results obtained by marinas like Vittoriosa, which at inception was marked by political controversy and hesitation.

He also believes it is important the sector identifies ways to provide more services within the industry, particularly in keeping with the philosophy behind the government’s Vision 2015 that aims to make a centre for excellence out of Malta.

The island, he says, is brimming with unique characteristics but neighbouring competitors are stepping up their game: thanks to a drive initiated four years ago by the Italian government, Italy will be able to boast 200,000 berths by 2014. Palma de Mallorca currently offers 14,000, Mr Woods points out.

Meanwhile, the market for boats is picking up: “We felt the credit crunch effect last year, particularly as most of our customers are Maltese or hail from the UK,” Mr Woods explained. “This year is already showing positive signs and we should be back to normal next year.”

Sunseeker, which enjoys 60 per cent repeat clientele in Malta, is highly regarded by individual and corporate buyers with a varied range in its current portfolio. Trader Marine, which Mr Woods says prides itself on specialist after-sales services, has ensured a reputation for fair pricing without succumbing to the trend for discounting.

Last March, Mr Woods and Shawn Spiteri Duca were named local representatives for BWA Yachting, the global leader in concierge and marine agency services for the superyacht industry.

Operating from a representative office at Grand Harbour Marina in Vittoriosa, BWA Malta is another link in the BWA chain serving 275 ports and marinas to support captains and crews in planning, implementation and service delivery.