Regulations Articles
For the uninitiated, the link between teak, a golden honey-brown wood, and the majestic allure of yachts might seem faint. However, one walk on a teak-decked yacht, feeling the grain of the elegant and instantly recognisable wood underfoot, would be enough to uncover this link. Truth be said, for many yacht owners, the thought of a yacht without a teak deck is simply unthinkable.
Yet however timeless and elegant teak might be, the world is changing, and so are attitudes towards teak usage. It may have been a beloved standard for years, but teak’s aesthetic legacy comes at a high environmental cost. Beyond its dwindling availability, the areas where teak is sourced — countries like Thailand, India, and Indonesia — are faced with rampant deforestation and illegal trade.
A breath of fresh air or an unwelcome storm? New regulations are setting sail, destined to deeply impact the export of luxury artefacts to the European Union. This imminent change has potential to radically reshape the import-export trade landscapes for these high value items.
Irrespective of whether these modifications are viewed as a breakthrough or a blow, the reality remains: the export industry is on the cusp of a transformative shift, likely to be an inflexion point for many stakeholders. Proactive adaptation is the need of the hour, as standing still amid the shifting tides might leave many exporters shipwrecked.