The Hong Kong Cruise and Yacht Industry Association (HKCYIA) has signed a Memorandum of Understanding (MOU) with Voyager Risk Solutions Ltd to support its risk and insurance management services for superyachts, with full scale professional solutions that are expected to promote its upcoming initiatives in the development of the yacht and tourism industries in the Greater Bay Area.
The move was made in view of the rapid development of the global yacht industry and the surging demand for superyacht management services in Hong Kong.
The MOU signing ceremony, witnessed by the management of both organisations, was officiated by HKCYIA Executive Director, Kara Yeung, and Voyager’s Chief Executive Officer, Tommy Ho. The agreement will further strengthen the two organisation’s developments in the yacht industry, with increased co-operations and exchanges in tourism promotions in the Greater Bay Area.
Speaking at the ceremony, Yeung said under the agreement Voyager will provide professional risk management and insurance consultation services to the HKCYIA in the opening and operation of its upcoming Superyacht Management Services Centre. Both parties will have regular meetings to seek further co-operations and communications that can enable services improvements and sustainable developments.
Yeung said Hong Kong has a major role to play in its capacity as a “super connector” in the implementation of the Belt and Road Initiative and the strategy to build the 21st century maritime Silk Road, providing the necessary support in the development of the maritime industries. Its first in Asia Superyacht Management Services Centre will be a milestone development for the industry.
The centre, a partnership project with the China Merchants Industry Holdings Co. Ltd, will provide world-class supporting services for superyachts of over 45-metres, including refit, repair and maintenance services.
Yeung added that the centre will work with international yacht brands and top management companies to provide a wide range of professional services, including repair and maintenance, audit and survey, bunkering services, crew administration, logistics support, etc. Exclusive onshore tours with tailor-made itinerary in the Area will also be provided.