Video: AIMEX chief on ‘tyranny of distance’ fuelling Australian innovation

In this short interview, David Good, the chief executive of the Australian International Marine Export Group (AIMEX), shares updates on what is happening in the Australian market.

Good, who is also CEO of Superyacht Australia (SYA) and Australian Commercial Marine Group (ACMG), is additionally a current director on the International Superyacht Society (ISS) board.

He reveals that the market down under is currently experiencing a cooling-off period following “record highs” for the past few years, which has been “pretty much unsustainable.”

He confirms orders for larger boats over 50 feet are still strong, but the trailer boat market is cooling down, as “people with mortgages have stopped spending as much money as they were a few years ago.”

With the Australian dollar still quite low, exporters can maximise value. “I wouldn’t say it’s cheap, but it’s great value for Australian exporters because at 65 to 67 cents to the US dollar, that is a big discount on a similar-spec boat you could buy from America,” Good adds.

Good says Australia has always been strong in innovation, thanks to the “tyranny of distance” from other global markets. This means it must stand out from the crowd and draw attention.

In terms of technology, Good reports on some “spectacular innovations” presented at the recent ASMEX conference, which took place in May in Queensland, including electric foiling boats being made in Western Australia and hybrid vessels being made for the Australian government, as well as Australian companies selling into the US market thanks to the Aukus arrangement, a trilateral security partnership between Australia, the United Kingdom and the United States.

Good also touches on Australia’s role as the refit and maintenance hub for superyachts cruising the South Pacific and acknowledges the role of homegrown manufacturer Riviera as one of the reasons for the nation’s skilled boatbuilding workforce.

This video advertorial was made in collaboration with Marine Industry News. Companies who wish to share their latest developments, new stories, and / or key messages with a global audience in this format can get in touch via MIN’s advertising team.