Yes, we Can(nes) – Acumum at the Cannes Yachting Festival
September 9, 2022. Acumum – Legal & Advisory attended the Cannes Yachting Festival – a delightful celebration of yachting, bringing together professionals and clients from the yachting world, from all over the globe.
The Cannes Yachting Festival heralds the opening of the show season for the yachting industry, as well as the closing of the charter season in the Mediterranean. It is held every year during the early weeks of September.
September a time when many chartered yachts begin to plan for their winter maintenance, or head to the Caribbean where they can continue their operations in the warmer weather. Private yachts may follow the same course, depending on the owner’s itinerary. For some, the weather is still sufficiently inviting to warrant a few more trips out at sea, or a few more charters for that matter.
The Cannes Yachting Festival is held in the beautiful Port Vieux, hosting motor yachts, and Port Canto, hosting some of the largest sailing yachts in the world. This exciting yachting event brings together yacht builders and brokers, suppliers of all types of yachting goods and a wide range of service providers. Stakeholders in the yachting industry review the success of the charter season. Owners begin to plan the winter schedule – from winterising, a maintenance programme for the winter months, to general upkeep, be it technical or cosmetic. The yachting festival also boasts a number of servicing and parts providers, which makes it a great opportunity to book any refits, or upgrades in the appearance of the yachts, and all kinds of maintenance programmes.
For service providers such as Acumum, being involved in this event means staying on top of the industry. Yachts are very special assets and hands-on knowledge of their maintenance requirements means that those responsible for a yacht’s operation and management are well aware of what the industry has to offer. This is key to offering expert advice and guidance in the ownership and operation of a yacht – whether private or commercial.
Surrounded by the glamorous buildings from the Belle Epoque and a stunning promenade, some of the largest yachts proudly flew the Malta flag, which is the largest superyacht registry in the world. This year, a number of yacht builders featured their newbuilds in Cannes while a number of events aimed at networking brought together a number of professionals – some of whom had not been to any yacht shows during the previous two seasons, due to the pandemic.
Many professionals visit the show, travelling from all over the world to close the charter season and to commence a series of events after the other which lead to networking, professional discussions and hopefully, brokering deals.
“The general feel of the festival exhibitors and attendees was really great,” says Dr Geraldine Spiteri, who leads the yachting team at Acumum, “and despite the last two years of lockdowns and world upheavals, the yachting industry is still going strong. Indeed, owners have immersed themselves more deeply into their yachting activities, realising that it is one of the safest options to travel. During the pandemic, orders for newbuilds or refits have soared, with the result that many yacht yards have a full order list. The yachting industry is really thriving.”
Dr Geraldine Spiteri Director and Advocate – Acumum Legal & AdvisoryAcumum Legal & Advisory’s Marine & Aviation team was present and participated in the discussions surrounding areas of interest to its maritime clients. The team is headed up by Dr Geraldine Spiteri, whose main practice areas are maritime and yachting, aviation and transport and corporate law. Dr Spiteri has worked in the yachting industry for over ten years, brings with her a range of experience and contacts that enables Acumum to ensure an all-round service to yacht-owning clients.
Dr. Geraldine Spiteri. I Head of Marine & Aviation.
[email protected] +366 2778 1700 ext 403