Navigating the Asian Market
What does it take to expand the yachting experience not just into Asia but within the Asian Market? Our Sales Director for Asia, Yunzhu Jin, recently sat with Yacht Style to talk about the challenges and opportunities that this experience-rich developing market brings to our industry sector. As Asia Director for Damen Yachting, Yunzhu Jin has her finger firmly on the pulse of superyacht sales in this rapidly developing market.
“I’ve been responsible for Damen Yachting’s superyacht sales in Asia since 2015,” explains Jin, who was the first Chinese national to be employed by Damen Yachting. “I had an internship at the Damen Naval Shipyard in 2005 and after completing my Masters degree I worked for Damen Shipbuilding as the Greater China Manager, with a focus on the sale of commercial vessels.”
With a solid understanding of Damen Yachting and the Asian market, Jin has led the company’s presence in the region with inspiring force. The Damen Yachting shipyard and the Amels marque have become leading brands in Indo-Asia-Pacific waters, and Jin knows why.
Amels 206 STARDUST in THAILAND.
When did Asian owners become interested in superyachts?
The Chinese started building and buying superyachts about the same time as the new-wave Europeans, Americans and Middle Eastern buyers. Brian Chang with his 48-metre Asean Lady in Southeast Asia, followed by an 88-metre vessel of the same name, David Lieu’s 65-metre Van Triumph in Hong Kong, and Chang Yungfa’s 101-metres Evergreen in Taiwan, are examples of this early trend.
Later owners found that ordering from established European yards was a more efficient way of handling builds and resales, and Damen Yachting benefitted thanks to the wide range of yachts available, and their attractive delivery times.
In 2019 and 2020, for example, six Amels Limited Editions were delivered, and three were for Asian owners. Damen Yachting has since increased its share of the Asian market rapidly, due to high-quality finishes, short delivery times, and its famous brand reputation.
Wealthy Asians, especially the younger generation, who have an international view and want to explore the world in different ways, realise that superyachts are an amazing opportunity to expand their business platforms, and at the same time see the wider world in comfort and style.
Thailand has become a hugely popular yacht cruising area, and the world’s two largest archipelagos, Indonesia and the Philippines, are next door. The Asian market seems to expand a little further each season.
Women in Yachting event during SIngapore Yachting festival 2024.
Damen Yachting was a main sponsor of the Singapore Yachting Festival’s Superyacht Lounge Pavilion, creating another sophisticated space for meetings in addition to the stand..
Yunzhu Jin during our first event in Vietnam with a pop-up exhibition at Landrover’s showroom.
Is selling in Asia different to other places?
Small to mid-size superyachts are very popular in Asia but yachts 55-metre plus are still a rarity.
Asia is a new and increasing market for big boats, but even the top superyacht specialists spend less time here than in Europe and America. Conversely, Damen Yachting has taken the strategic move to assert themselves in Asia, to be here not only selling not only the yacht, not only the superior product, but the dream and the lifestyle, which in the East is not the same as the West.
I speak Mandarin, dialects such as Shanghainese, Cantonese, Ningbo and some Japanese. But Asia is big. Languages can be a tool to develop relationships, but of greater importance is the real meaning conveyed by the language – we’re here, we’re part of this world.
The team and I take our study of Asian culture, style, hospitality, and design differences very seriously. Understanding our Asian clients, and putting their needs first, is the key to our success.
Sarah Flavell, Marketing Manager at Damen Yachting, joined a panel discussion at the SEA Yachting Conference, speaking on the topic of Owner requests and expectations.
How do you see superyacht sales developing in Asia?
There are many geopolitical factors to consider, so there is no easy answer, but the size of vessels bought, and number of sales, are steadily rising. More suitable marinas are being developed, and infrastructure is improving throughout the region, progress is being made reducing the red tape surrounding charter, too.
We would love to see one of the Asia-Pacific boat shows emerge as a genuine superyacht centre, like Cannes and Monaco in Europe or Fort Lauderdale in Florida, and I expect many of our colleagues at other European shipyards feel the same. Singapore was a focus prior to the Covid pandemic, the Sanctuary Cove Boat Show in Australia is growing, and plans have been mooted for a South China multi-event in the Pearl River delta involving Hong Kong, Macau, Shenzhen, Guangzhou and other wealthy cities in the estuary.
Damen Yachting and Amels strongly support existing Indo-Asia-Pacific events, in line with our substantial fleets in these waters, but it would be fantastic to see one of the boat shows develop into an international gathering of the superyacht sector.
ONE°15 Marina Sentosa Cove, Singapore - The Women in Yachting lunch took place at the W Hotel in Sentosa Cove, and provided opportunity for new conversations and connections.
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Amels 60 scale model at the Superyacht lounge during Singapore Yachting festival 2025.
Hongkong harbour view during Women in Yachting Hongkong event in 2024.
Singapore at night.