Exploring Sustainable Yachting Solutions at Monaco's Spring Event

Promoting Sustainability in Yachting at the Monaco Spring Pop-Up

In a dynamic and vibrant gathering at the Yacht Club de Monaco, yachting enthusiasts and industry leaders came together to address the pressing need for sustainability in maritime activities. This Spring event organized by the Cluster 'Yachting Monaco' emphasized the importance of transitioning towards eco-friendly practices within the yachting ecosystem. Stakeholders from various sectors including shipyards, yacht designers, and suppliers discussed innovative strategies aimed at reducing the environmental footprint of recreational vessels.

Engaging Discussions on Sustainable Practices

Throughout the event, three main roundtable discussions took center stage, highlighting different aspects of sustainability. The inaugural session, led by Vincent Huens de Brouwer, focused on the contributions from various interrelated sectors. One of the standout presentations came from Vianney Vautier, Chief Operating Officer of Orient Express, who unveiled insights into the 'Orient Express Corinthian' project. This groundbreaking vessel, the largest of its kind at 220 meters, serves as a shining example of sustainability in yachting. With an impressive array of 6,000 sensors onboard, this ship can simulate its routes to optimize fuel efficiency and minimize consumption.

Advancements in Hybrid Technology and Fuel Efficiency

Another innovative project presented was by Victor Gibon from JIFMAR GROUP Canopée, showcasing the first hybrid cargo ship powered by rigid sails. This vessel demonstrated a remarkable 20% average reduction in fuel consumption across the Atlantic, with potential reductions reaching as high as 100% in sail-only scenarios. Additionally, Victor Collazos from V.ERDE provided an insightful regulatory overview, noting that despite yachting's current contribution of 0.3% to global maritime emissions, there is an undeniable push towards stringent regulations mandating energy labeling for vessels operating in European waters.

Voices of the Yacht Owners

The second roundtable shifted focus to the perspectives of yacht owners, moderated by naval architect Espen Øino. Owners like Laurent Reiss shared their experiences while navigating remote waters, connecting autonomy, robustness, and high-quality onboard equipment as crucial factors. Another owner, Frank Binder, raised concerns regarding the prevailing uniformity of yacht designs. Insights from Heigo Paartalu, Managing Director of YachtWay, highlighted the significance of multifunctional spaces aboard vessels, such as transforming sun decks into outdoor kitchens for full utilization.

Challenges in Crew Management

All participants acknowledged the complexities and challenges associated with crew management. Reiss pointed out the practical difficulties of rotation systems, suggesting these models often favor crew members rather than catering to the preferences of yacht owners. This focus on practicalities reflects a growing awareness of the nuanced demands of yachting.

Innovative Approaches to Sustainable Refitting

The final roundtable, led by David Seal, brought forth discussions on sustainable refitting practices. Robin Savigny from SMEG / SMART+ shared evidence that significant electricity savings of 24% are attainable on large yachts, translating to substantial annual cost savings. Arthur Bohr, a key account director in Monaco Marine, highlighted that a significant portion of the global fleet consists of older vessels—over ten years old. Simple upgrades, such as changing from halogen bulbs to LEDs, can lead to impressive fuel savings.

Measuring Energy Efficiency and Sustainability

Natalie Quévert, General Secretary of the SEA Index, emphasized the importance of measuring energy efficiency in yachting. With their certification framework, yacht owners can accurately position their vessels based on energy intensity. Interestingly, some older models may perform surprisingly well when designed and balanced correctly, while newer models may fall short of expectations.

The Role of Cluster 'Yachting Monaco'

With a robust membership of 100 companies, the Cluster 'Yachting Monaco' plays a pivotal role in steering the sector toward genuine sustainability. This effort generated €567 million in 2022, constituting 3% of the Principality’s GDP, showcasing the economic significance of the yachting industry. The commitment to drive real and measurable sustainability outcomes reflects the industry's dedication to adapting and innovating in response to environmental challenges.

Frequently Asked Questions

What was the key focus of the Spring Pop-Up event?

The event emphasized sustainable transition and energy-efficient practices in the yachting industry.

Who were the main participants at the roundtable discussions?

Participants included industry leaders, yacht owners, and experts from related sectors and organizations.

What advancements in yachting technology were discussed?

Innovative projects like hybrid cargo ships and large sailing yachts with digital sensor technologies were showcased.

How does the Cluster 'Yachting Monaco' contribute to the industry?

The Cluster promotes sustainable practices, helping to generate significant economic impacts and guide industry growth.

What measures are being taken to ensure sustainability in yachting?

Implementation of energy labels and certification systems are part of the strategy to measure and enhance sustainability in yachting.

About The Author

Dedicated Author and financial expert Logan Wright here, 29 years old. After earning an economics degree, I spent a number of years working in different financial industries. My great passion is enabling everyone, from any background or experience level, to understand and be literate in financial matters.

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