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U.S. Laws and Regulations Should Be Changed to Facilitate the Increase of Larger Recreational Vessels Operating in U.S. Waters
Problem Statement: Current U.S. law limits recreational vessels to 300 gross tons (GT). Unfortunately, our economy suffers because these boats do not come to our waters and spend their dollars in our local communities. Background: The recreational vessel industry accounts for significant economic impacts in the marine trades and overall U.S. economy. Accordingly, more large recreational vessels in the U.S. mean more opportunities to increase market share and reap the benefit of the economic impact of these economic generators. The United States accounts for approximately 20% of the world’s large recreational vessel market encompassing over 1,100 companies employing nearly 28,800 workers. The estimated economic impact of large recreational vessels alone in the United States is close to $6 billion, and as a result is a significant segment of the marine tourism. o Cruising vessels and charters have additional positive economic impact on coastal communities. Each large recreational vessel spins off significant benefits in additional jobs, shipyard repair and refurbishing work, provisioning, and impact on local economies. A large yacht (80 feet and larger) spends roughly 10% to 15% of its total value each year on various services. That equates to roughly $2 million or more in spending per year per vessel. The large yacht fleet is estimated to be close to 8,500 vessels with an estimated 40% to 50% of those vessels owned by Americans. However nearly all of those vessels are flagged outside the United States. Success Story: The M/Y Freedom was registered under the U.S. flag using the American Bureau of Shipping Guide for Building and Classing Motor Pleasure Yachts as an equivalent standard to the requirements of 46 Code of Federal Regulations (CFR)—a lengthy and expensive process. The M/Y Limitless was only able to accomplish that with an act of Congress. This approach suggests that standards can be developed to facilitate the placing of additional recreational vessels of larger than 300 GT under the U.S. flag. Regulatory Solution: U.S. Superyacht Association (USSA), the voice for the businesses that support the larger boat market, initiated a dialogue with the Coast Guard in December 2014. The objective was to increase the regulatory regime of 300 GT with a comprehensive approach. By upping the limit, boats would be able to stay longer in our country (and spend their money here!) before they move on to other countries. Elements of this effort include: We successfully completed a GAP Analysis in 2017 for the Coast Guard. Ongoing: Create a new subchapter 46 CFR to accomplish this tonnage increase Ongoing: Provide for the documentation of larger vessels as recreational vessels. Ongoing: Create structural and safety standards for recreational vessels. Ongoing: Establish appropriate manning standards. Action: To facilitate the flagging of large recreational vessels of 300 GT and larger under the U.S. flag to increase the number operating in U.S. waters: 1. Meet with the Coast Guard to further refine regulatory equivalencies; and 2. Seek legislation from Congress as needed to provide the necessary authority. 767 SE 17 Street, # 667 * Fort Lauderdale, FL 33316 info@ussuperyacht.com * ussuperyacht.com * 954‐792‐8666
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