Monaco Yacht Show 2024 – September 25–28

Date: 11 Sep 2024

Karen Jones

The ocean covers seventy percent of the Earth’s surface, which is an area of 361 million square kilometres, so it is not surprising that man has elevated its vehicles and craft to enjoy and cruise its waters at leisure.

What to Expect at the Monaco Yacht Show 2024

The Monaco Yacht Show 2024 is expected to be one of the most spectacular showcases of super and mega yachts in the world. Set to take place from September 25-28, the event will feature some of the largest and most luxurious superyacht vessels ever built. With an average length exceeding 45 meters, these yachts represent the pinnacle of maritime luxury, featuring cutting-edge technology, sustainable innovations, and opulent design. A major highlight of the event will also be the Sapphire Experience, a VIP package offering exclusive access to private yacht tours, gala events, and networking opportunities with industry leaders.

Latest Superyacht Launches

Among the anticipated highlights at this year’s show are new launches from some of the biggest names in yacht building, such as Lürssen and Oceanco. These shipyards are known for producing some of the world’s largest and most luxurious yachts. Oceanco with a yacht building facility in the Netherlands and a marketing, design and sales office in Monaco will unveil their latest innovations and a collaboration with a fine art photographer. You can catch them on Instagram and Facebook where they also post community engagement tours to the shipyard and ‘Yacht science for kids’.

Trends in Super Yachting

The opening conference will commence on the theme of sustainability in the yachting industry. In recent years, there has been a noticeable shift towards sustainability, driven by both regulatory pressures and a growing desire among yacht owners to minimize their environmental impact. The 2024 Monaco Yacht Show will reflect this trend with its Sustainability Hub, where exhibitors will showcase the latest green technologies, such as hybrid propulsion systems, solar panels, and advanced waste management systems designed to reduce the environmental footprint of these massive vessels.

Sarah Allan who is the head of the yacht team at law firm Pennington’s Manches Cooper says, “The superyacht industry is conscious about ESG issues – they are not behind the curve. UHNW individuals are privately investing in their own technology and designs which are having a wider impact on the commercial sector for instance with hydrogen and hydro power. Allan mentions “Black pearl” built by Netherlands shipbuilder Oceanco and launched in 2016. “Black Pearl” was at the forefront of this trend as one of the largest and most ecological sailing yachts in the world. It can cross the Atlantic without burning even a litre of fossil fuel.”

Good works at sea

She continues, “Then you have the next gen coming up who are wealthy but have different ideals. Aswell as this, charities such as ‘Yachts for Science’ are extending greater co-operation and launching joint initiatives.” ‘Yachts for Science’ is a program that connects private yacht owners and crews with marine scientists and researchers to help improve access to the ocean for scientific research. The program’s goal is to use existing assets to advance global knowledge and improve the state of the ocean. “The International SeaKeepers Society is another charity to keep a look out for supporting marine science and conservation by utilizing privately owned yachts as platforms for oceanographic research, educational outreach, and marine conservation.” 

Of other trends Ian Rumens, Head of Private Client, Ocorian based in Jersey who are a global company providing administration, trust, and fiduciary services to UHNW individuals, says “The demand for bespoke superyachts is growing among ultra-high-net-worth individuals, with a focus on unique layouts, services, and décor. The crew on superyachts are also continually expanding to offer specialised services to owners, such as beauty and hairdressing, with the desire to stand out ever-present.” 

James Porter, Client Director, ZEDRA says “Superyachts represent the pinnacle of luxury and more than ever superyacht owners are demanding personalised designs that reflect their tastes and lifestyle. Across the globe, superyachts dazzle in lavish detail, gold leaf faucets, mosaic tiles and exotic woods with an array of adventurous sea toys including submarines, jet skis and sea bobs. Internal recording studios, ice rooms, wine cellars, cinemas, and state of the art gyms redefine the concept of luxury at sea. A notable trend is the use of art as a focal point of the yachts interior design and over the years, the yachting and art worlds have become increasingly intertwined with beautiful and rare artwork on board yachts expressing personality and sophistication. AI is also becoming more prominent in our everyday lives, and it is currently revolutionising the superyacht industry, with automated maintenance processes ensuring yachts are operating at their peak performance. All of this brings a range of new regulatory and compliance requirements which the industry needs to navigate.”

The Bear Grylls effect

Another trend is the rise of explorer yachts—robust, long-range vessels designed for adventurous owners who want to explore remote parts of the world in comfort and style. These yachts are equipped with features such as ice-class hulls, submarines, and helipads, making them ideal for expeditions to the Arctic, Antarctic, and other far-flung destinations.

Emerging Markets in Asia and the Middle East

The market for super and mega yachts has been growing around the world. This growth is fuelled by rising demand from emerging markets, particularly in Asia and the Middle East, where new wealth is driving interest in luxury yachting. According to industry reports, there are more than 150 new yachts in this category currently under construction.

Notable Recent Launches

Some of the most talked-about super and mega yachts include: “Blue” by shipbuilder Lürssen: At 160 meters, this yacht is one of the largest in the world, featuring state-of-the-art amenities, including two helipads, a large swimming pool, and a dedicated spa and wellness area. On the sustainability front, Blue has a diesel-electric hybrid propulsion system, an electric azimuth pod drive (that drives the propeller), and an exhaust after-treatment system to reduce noise and vibration. There is also “Viva” by ship builder Feadship which is a hybrid yacht that combines diesel and electric propulsion, significantly reducing its carbon footprint without compromising on luxury.

The largest yacht at the 2024 Monaco Yacht Show is the 122-meter (400.3-foot) superyacht KISMET, which is available for charter at $3mn per week. The word “kismet” means fate or destiny or a chance encounter or coincidence. It can be hired from Yacht Charter Fleet. The yacht has a two-level open-plan entrance, a Nemo cinema, a Balinese-inspired spa, a gym, a yoga studio, and a juice bar. It can accommodate up to 20 guests and 40 crew members. Lürssen a multi-billion-dollar yacht construction company made the yacht. The yacht was designed by Nuvolari Lenard and has interiors by Reymond Langton Design. KISMET is not just a triumph of design and craftsmanship; it also showcases Lürssen’s commitment to sustainability and safety. It has a full-electric mode which sets a new standard for energy efficiency in the superyacht world.

The America’s Cup Influence on Yachting

Whilst eyes will be on the Superyachts at the show, there will certainly also be talk about who is likely to challenge Team New Zealand in the finals of the 37th America’s Cup taking place in Barcelona. Allan says, “there is no doubt that the America’s Cup has been a real driver in technology in both superyacht design and sustainability as we see more advanced foiling systems on yachts improving efficiencies”.  Foiling in yachting is when a boat uses hydrofoils to lift out of the water, reducing drag and increasing speed. Hydrofoils are wing-like structures attached to the bottom of a boat or board that generate lift as the craft moves forward. This lifts the hull out of the water, reducing the wetted area and drag. Luca Rizzotti, Founder of the Foiling Organisation says, “There is a large sailing foiling superyacht 50 metres under construction with more to come. Many of the superyacht boatyards are looking at the possibility of foiling assisted vessels for reduced consumption and added comfort.”

Innovation from Baltic Yachts

Another one to watch, Allan says, is from Finnish builder Baltic Yachts where their ultra-light super yacht Raven was completed last year. Having already won Superyacht of the Year for the 42m “Canova”, they are the first sailing superyacht in the world to use foils from Dynamic Stability Systems and Infiniti Yachts, they have consistently led the way in using foil and construction technology to make a meaningful difference to the superyacht landscape.

Gordon Kay, Founder at Infiniti Yachts commented: “with a 42% reduction in pitching and a 30% reduction in heeling it is safe to say that the DSS foil in Canova transformed the comfort levels on the Canova. Foil assisted sailing is growing, the trick is embracing it from the outset rather than as a “bolt-on” feature.”

Baltic Yachts will have a catamaran on display in Monaco. To save weight, the yacht’s structure is used as part of the interior and materials like bamboo and rattan are featured in the finish. “Showing how technology in racing yachts is influencing design in the superyacht sector.”

Geopolitics and the Future of Yachting

Whilst the Monaco Yacht Show is about showcasing the best in Superyachts, the world cannot ignore the changes that have arrived in the world in the form of the continued conflict in Russia and the Ukraine with sanctions.  Allan says, “International conflict is also affecting the ability of yachts to transit from East to West as easily as they used too.” On the upside though she says, “The US market is exciting and a growth area.”

Rumens adds, “Despite the global rhetoric, we have only seen some limitation with yacht locations, and the Mediterranean remains a popular destination because of its diverse ports and cultures. However, we are seeing some ports implementing restrictions on larger vessels because of growing concerns about the environmental impact from superyachts.”

As to whether you can put sailing around seventy percent of the world’s seas on your bucket list, that is another matter, but the marriage of luxury and sustainability seems well under way for this year’s Monaco yacht show.