SUPERYACHT DEJA VU DUD

THE frustration of the city’s biggest marina boss Trenton Gay is understandable.

Here he was at the weekend overseeing the city — and country’s — second ever Superyacht Rendezvous but no further ahead in real terms than this time last year with promised cuts to industry red tape.

More specifically, the superyacht industry is awaiting removal of a requirement for foreign vessels to pay a hefty 10 per cent bond on the value of the boat to charter in local waters. And by industry, it means everyone from millionaire owners to deck hands working on board — this is not just a game where the few at the “big end of town” benefit.

At last year’s inaugural Superyacht Rendezvous, with a dozen floating palaces at Gold Coast City Marina behind him, Federal MP Stuart Robert was all gusto in a well-received speech promising to cut red tape and sort the Coastal Shipping Act. It was a “dog of a piece of legislation”, he said. “We are working on it, it’s a no brainer.” And they’re still working on it. This time, Mr Gay has grown the Rendezvous, which connects owners, captains, staff to 19 superyachts. His industry lobbying has been commendable prompting significant results.

As he pointed out, progress has been made, Federal Government has instituted a year-long trial of an on-water Customs port at Southport Yacht Club. Meanwhile, those in the industry say the number of Australianowned superyachts is growing constantly.

But the floodgates and economic impact will really open up if the Federal Government can modify the Coastal Shipping Act and remove the GST bond barrier. Let’s hope we’re not still waiting when Superyacht Rendezvous III is held in another 12 months.