Coastal Trading change?
THE Govt has introduced a bill that would ease up restrictions on superyacht charters in Australia, paving the way for more expedition ships to visit and stay longer in local waters.
If passed, the amendment to the Coastal Trading (Revitalising Australian Shipping) Act 2012 would remove the prohibitive costs related to the importation of a vessel and reduce the required number of chartered voyages from five to one.
The move would essentially make it cheaper and easier for superyacht operators to do business in Australia.
It’s estimated superyachts currently generate around $1.96b annually and with the proposed reforms could contribute an additional $1.12b to the Australian economy by 2021.
Last week Ponant chairman Sarina Bratton called for a change to the act, highlighting “many companies that would love to call Australia home but they can’t” ( CW 07 Sep).