Saturday, May 17, 2008

Decadence: super yachting edition

The Global Build Report, an annual survey of the world's shipyards, said there were 799 ["super yachts"] under construction last year worth a total of $18.4 billion, an increase from 520 yachts in 2003... 

The new rich are demanding amenities such as 2- to 12-passenger submarines for deep-sea exploring and broadband Internet connection via satellite. The largest boats require crews of more than two dozen, and operating costs can be $10 million a year in labor and maintenance.
Bloomberg article.