06/28/2008 05:12 am ET Updated May 25, 2011

Hey, At Least The Superyacht Market Is Strong

A new Superyachting Index shows that the top end of the yachting market is still holding firm - at least for now.

The index, which is compiled by The Luxury Institute and Camper & Nicholsons International - the yacht broker and charter company - found that new orders for yachts over 130 feet are up 18% in 2008. There were 254 new orders for yachts longer than 130-feet last year, up from 134 in 2005.

The report also puts into perspective the astounding growth rate over the past decade for jumbo yachts. In 1997, there were just 241 yachts of 80-feet or more under construction around the world. Last year, there were 916 such boats being built.

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