New environmental regulations for superyachts could spell “doomsday” for the industry, according to reports from the British press.

However, Mark Soares, a leading figure from Bermuda’s yachting sector, has said he is yet to witness any panic resulting from the ruling — as the Island continues to expand its superyacht capacity for the 2017 America’s Cup.

From next January, vessels exceeding 79ft and 500 tonnes will have to be fitted with cumbersome new equipment aimed at drastically reducing their sulphur and nitrogen oxide emissions before they can enter North American and Caribbean waters.

The move, approved by the United Nations’ International Maritime Organisation, led The Observer and The Daily Mail newspapers to report on a potential backlash from ultra-wealthy superyacht owners.

At present, there are 4,000 yachts in the world measuring more than 100ft. Owners include Roman Abramovich and Steven Spielberg, both of whom have docked in Bermuda during the past 12 months.

The green initiative will bring maritime regulations closer to road transport in terms of pollution accountability. However, according to the British publications, it may also lead to disgruntled superyacht owners weighing up whether to replace existing cabins on their vessels with the hefty machinery.

Mr Soares, director of Bermuda Yacht Services, said there was a possibility the move could impact the industry, although early signs had not proven too ominous.

“The industry has been expecting this decision for quite a while,” he said. “I’m sure there will be some recourse, but I haven’t seen people getting overly concerned.”

In the early 1990s, President George Bush imposed a 10 per cent luxury tax on yachts priced more than $100,000, only to find that the industry tanked — causing widespread layoffs and, eventually, a U-turn.

Asked whether some superyacht owners might sell their prized possessions rather than comply with the UN’s regulations, Mr Soares said: “Maybe some will: it’ll be interesting to see. I haven’t noticed an outcry in the community at this point, but maybe there will be.”

Meanwhile, Mr Soares is forging ahead with plans to erect a new marina in St George’s in preparation for the America’s Cup.

“Negotiations are progressing nicely,” he said.

The BYS chief added that he hoped Bermuda could compete numerically with the 90 superyachts which graced Auckland’s waterfront during the 2003 America’s Cup.