AUTUMN 2011I sea&iI101brokerageThe fourth edition of CNI's (super) Yachting Index, released in August, looks back at the year 2010. The Index reports positive market conditions and figures, which, for the most part, are heading back to the figureswitnessed in 2007. MARKET PLACE INTRODUCTION BROKERAGE AND CHARTER The global superyacht industry was worth US$13.63 billion in2009 Ð the figure in 2010 stood at US$15.12 billion, up by justunder US$1.5 billion. The main challenge in both the pre-ownedsales market and the charter market continues to be the avail-ability of yachts Ð the high inventory of the global fleet hasincreased by over 50% since 2007. In 2010, 33% more superyachts were available for sale com-pared to the crisis times of 2008 and 2009. On the charter sideof business, the number of units available continues to signif-icantly increase as more owners look for revenue to supportcosts. As a result of this influx the charter market is currentlyoperating under very competitive conditions. NEW CONSTRUCTION In 2009 there was a decrease of 18% in both the number of newsuperyachts, as well as the total length of all completed supery-achts. While the number of new completions in 2010 was stilldown by 8.5% to 195 vessels, the total length of all completionswas only down to 8,649m (28,375'). Italy remains the majorforce in superyacht construction with a 33% market share(based on total length of all completions). Interestingly, overthe last four years the top five countries (Italy, Netherlands,Turkey, Germany and the United States) have been responsi-ble for approximately 80% of all completions. The Index also reports an increase of 27% in new orders,climbing from 90 new contracts in 2009 to 114 new contracts in2010. Despite this increase it will not be sufficient for all ship-yards in the industry to survive. In the past two years approxi-mately 100 shipyards delivered new superyachts, and 57 ship-yards in 2009 and 66 in 2010 signed these new orders. Eventhough times in the superyacht building industry have been dif-ficult, many shipyards still have orders and the majority of ship-yards that did go into liquidation have been taken over by?index