It's been a tough year but the brokerage market has managed to stay afloat following a surge in summer sales. The Virtual BOAT Show talks to Rob Moran, president of Moran Yacht & Ship, on the impact of Covid-19 and what's in store for 2021.
How has 2020 been for Moran Yacht & Ship?
2020 has been a great year for Moran Yacht & Ship. We’ve had a record number of brokerage sales including several boats 68m+. We will soon deliver the 142 metre Lürssen Nord – this is the largest yacht ever sold by a yacht brokerage company to date. On top of that, we sold two new construction projects with the potential to sell two more before the end of the year. Despite all of the challenges in the world, our company has continued to prosper.
What challenges did Covid-19 present for the business and how did you deal with them?
Travel restrictions were an incredible challenge for us in 2020. With the travel bans, it was nearly impossible for our team to travel for brokerage showings and to shipyards. There is no doubt that this prevented several additional deals from happening. Charter was also a challenge due to travel bans so we advised most of our fleet to remain local around Florida and the Bahamas and the Northeast of the United States. This proved to be successful and the majority of our fleet remained busy.
What are your predictions for 2021?
We anticipate another great year in 2021. We will deliver three large yachts in 2021, ranging from 62m to 116m in length. In addition, we expect the brokerage sales business to remain strong while the charter business to recover worldwide.
What listings are you most excited about?
Not to sound cliché, but we are excited about all of our listings. The reason for this is that we are on the same page with the owners we represent, we have a mutual understanding on what needs to be achieved and how to achieve it.
What has been the most enjoyable experience during your time as chief executive?
I think the relationships that have been built with our clients have been the most enjoyable and rewarding experience throughout my time running Moran Yacht & Ship. We are not looking for the one-off quick deal – we have built meaningful, long-term relationships with our clients and look forward continuing building, brokering, chartering, and managing yachts for them for years to come.
How do you think the superyacht industry will change as a result of the coronavirus pandemic?
I think we will continue to see the industry expand as clients try to find a safe, secure, and private refuge. I don't doubt that my team will continue to produce on the brokerage, charter, and new construction fronts.