Australia issues Bill improving superyacht industry

The Australian Government issued the “Special Recreational Vessels Bill 2019”, according to which foreign-owned superyachts will be able to charter in Australia, leading to 11,800 new jobs and A$1.64 billion in revenue to the Australian economy by 2021.

Specifically, the Bill states that any interested party is able to apply to the Minister for a special recreational vessel temporary license, to use in coastal trading over a 12-month period if the person is the owner, charterer, master or agent of the vessel.

Thus, interested parties that wish to issue their application, they should specify the following:

1. the number of voyages to be authorised by the licence;
2. the expected loading dates;
3. the number of passengers expected to be carried (which must 22 not exceed 12);
4. the kinds and volume of cargo expected to be carried (if any);
5. the type and size, or type and capacity, of the vessel to be 25 used to carry the passengers or cargo (if known);
6. the name of the vessel (if known);
7. the ports at which the passengers or cargo are expected to be 28 taken on board;
8. the ports at which the passengers are expected to disembark
9. the cargo is expected to be unloaded;

Prior to the amended Bill, charter vessels were not allowed to operate commercially in Australia unless they fully imported the vessel, which was a major deterrent to foreign superyacht owners considering cruising Australian waters.

David Good, CEO of Superyacht Australia, applauded the Bill, commenting that

Now is the critical time to act. We commend the Deputy Prime Minister, the Hon. Michael McCormack for introducing this bill today. Huge events in the Pacific over the next 18 months will mean large numbers of superyachts will be in our region.

In addition, superyacht Australia stated that tradespeople and small businesses will be benefited from the Bill, as each vessel spends 10-12% of the vessel’s value each year in maintenance, service and repairs.

Mr Good concluded that “the likely change to legislation will allow Australia to catch up to our neighbors who all have booming superyacht economies … New Zealand, Fiji and Tahiti enjoy thriving marine industries, dominated by charter vessels.”