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IMF/Lombard On the Water Boat Show 2008

29th November -0001
There has never been a better time to buy a boat, writes David O’Brien. Edward Heath famously grumbled about the cost of boating 30 years ago when he complained that “ocean sailing is like standing under a cold shower tearing up five pound notes”. Three decades later, boat dealers are quick to point out that as luxury products go, depreciation on boats is not such a black hole.
Walk along the waterfront of Ireland’s biggest boating centre at Dun Laoghaire on any summer Saturday and repeat Sir Ted’s comparison to the growing band of boat owners and it’s sure to draw a telling smile. Those passionate about boating normally avoid any talk of cost. From Monday to Friday they may be wage slaves but boyhood dreams are relived at weekends, and it has become an unwritten law of the sea that the boat account is never scrutinised. Heath, a great yachtsman, was being unnecessarily harsh. In examining the contents of his wallet, he forgot about the pleasures of boating. It’s there, from the simple smell of sea air to the sense of adventure offshore, but most of all the good times on board with friends and family. If you want to make money, buy a house; if you want to lose money, buy a car; but if you want to keep your money, buy a boat. At least, that’s the story your local boat dealer is likely to advance. Thanks to the lower cost of mass-produced boats and equipment in recent times, there has never been a better time to get involved. As leisure pursuits go, sailing in Ireland represents surprisingly good value for money – if only the facilities were there to back it up. Take a look over the breakwater at Dun Laoghaire’s public marina and it’s pretty clear that both the size and style of pleasure craft berthed there – particularly motorboats – is impressive. If you want a snapshot of the Celtic tiger, here it is. Since the marina opened 400 berths in 2001, it has grown to become an 820-berth faciliy, has transformed boating in Ireland and led to an influx of new blood where access to the water was previously controlled by private yacht clubs. In doubling Dun Laoghaire’s size over the past six years, the facility that took skeptics 20 years to build became an overnight success. It is the country’s largest marine leisure centre by a long chalk. It is also the shining jewel in an otherwise flawed necklace of marinas still to be built around the coast. Providing facilities takes considerable investment – from the State or from private investors, or a combination of both in public-private partnerships – because marinas need expensive breakwaters or sea walls to protect pleasure craft from the open seas. “Ireland has largely turned her back on the sea despite being an island nation,” says Bernard Gallagher, a marine dealer in this country for the past 30 years. “We have simply failed to recognise the true value of the marine environment for leisure purposes.” But even with such obvious infrastructural deficits there is a surge of interest in the freedom of the seas and a lot of it is being driven by novice boaters. You don’t need a licence, insurance or experience to own and operate a boat in this country. And what’s more, the wind and the waves are free. But for everything else you will need a cheque book. Growing numbers of the Irish public are demonstrating, in many cases for the first time, that boat ownership is no longer beyond their financial reach, particularly over the past ten years, a period in which the flow of newcomers has been tracked by official figures. At a cost of E425 per metre as one of the top rates for mooring fees, it’s pretty easy to work out how much it costs to park an average 40-footer (12-metre) in Dun Laoghaire or at one of 22 other coastal facilities around the country. But boat ownership costs don’t stop with an annual berthage fee. A typical new 40 footer – such as Bénéteau’s Flyer 12 with a purchase price of E360,000, which is a top of the range boat for Irish waters – will cost an owner (with modest cruising plans of 100 hours) 13k–14k per annum. This includes berthing, fuelling, servicing and insurance. Even if a boat owner has signed his cheque for all this, that still isn’t the end of the story. The romantic freedom of boating is as true today as it has been throughout maritime history. The seas might be free to roam but finding a berth is not quite as easy. In fact, demand is so high that a lack of berths is hampering further growth of the marine leisure sector. According to Gallagher, the industry is capable of growing by around 30% over the next three years – if the government and local authorities decide to unlock the potential that lies in Irish waters. The west coast of Ireland is hardest hit with no marina facilities between Kilrush Creek, Co Clare and Fahan, Co Donegal. “On the east coast significant gaps exist between Arklow and Kilmore Quay and on the south coast between Kilmore Quay and Cork Harbour”, says Steve Conlon of the Irish Marina Operators Association. Users are calling for government action to cut the bureaucratic red tape that surrounds foreshore development for marine leisure usage. The trade body fears that the run of new boat sales could be short-lived as a shortage of berths around the coast hampers the growth of the sailing industry. In the major sailing centres on Dublin Bay and Cork Harbour – representing 3,000 craft – all five marinas are full or nearing capacity. Even with its expansion to 820 berths, Dún Laoghaire will be full this time next year. The Irish Marine Federation estimates the number of berths needed to bring Ireland up to the EU average is 22,826 berths. To accommodate existing waiting lists and boats located on existing swinging moorings, an extra 2,000 plus berths are required immediately. Abroad there are no such obstacles, and the buoyant boat buying situation at home is mirrored in the Mediterranean where the Celtic Tiger ensign flies from the sterns of some magnificent yachts in the Med’s top yacht harbours. The only difference abroad is that the Irish yachts tend to be even larger. The first many people knew of one business magnate’s E2.2m superyacht was when the Dublin property developer sent out a Mayday distress call from it. His 80-footer sank in under an hour in October 2004 following a fire in the engine room. Thankfully he and four friends and crew were rescued and brought ashore. But that is an example of just one of many Irish businessmen who prefer to do their yachting away from here. Last January the Sunday Times reported on Eddie Jordan’s new E13m Sunseeker motoryacht that went on display at this year’s London boat show. The 22-metre superyacht is also bound for the Med. There is plenty of Irish money heading south and not all of it on Spanish property ashore. It’s the reason why specialist Irish marine brokers such as MGM Marine of Dun Laoghaire, BJ Marine and Luxury Yachts Ireland of Malahide, to name but three, have set up bases in the Med to deal with offshore clients.
Afloat.ie Team

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