In merely a decade, the superyacht sector has gone through several deep transformations, first trying to navigate a new world of financial instability only to reemerge into a new digital era with unforeseen consequences.
From a world of 3 year long waiting lists at shipyard and yacht flipping, the superyacht sector had to rapidly transition to leaner times that demanded more efficiency as of 2008. The change in dynamic in the economics of yachting caught some companies off guard with, for example, Baglietto posting losses of €25 million in 2008.
Efficient players have however emerged stronger from these turbulent waters, consolidating their position through acquisitions and mergers, such as Lurssen's recent takeover of Blom+Voss. Investors have also taken advantage of this dip in the market to bet on the superyacht market's recovery, leading to several conglomerates such as LVMH with equity stakes in yachting companies.
Although financial turmoil may have had the most noticeable effect on the market so far, the weakened superyacht sector is becoming more and more influenced by the digital world. The latest social media gold rush has seen relatively small brands outperform more established players by taking advantage of their lack of attention.
Digital has however started having an effect on the market much earlier. Prior to this becoming a standard, asking prices would not be displayed on the web for any yacht, hence severely limiting access to the space. As it was becoming clearer that the internet was here to stay, brokers however started releasing more information online, including specifications, which were also previously held confidential.
Despite attempts from trade associations to control and regulate this new flow, information became more accessible as it ultimately benefited the end users. Yacht Harbour itself became a part of this wave, pioneering the Timeline platform in May 2017, giving its users detailed reports on any yacht through a combination of tech and human analysis.
Yachting's growing attention to digital can also be noticed in their branding strategy, which has started to drastically evolve since the times of print advertising. In September 2013, YCO, a yacht brokerage firm, acquired the one-letter domain, y.co from the Columbian name registry in a deal valued by experts in the $1 million range.
Yacht marketing as a whole has undergone a complete transformation in the age of platforms, which sees data-driven companies thrive and rapidly overtake the market as can now be seen on the brokerage and charter side. Recent uplifts in video consumption on social networks have led to a rapid shift in attention away from traditional mediums.
Yacht Harbour's Facebook page, for example, sees its videos reach over 1 million views per month with a strong audience base watching them for up to 15 minutes and more. The largest yacht magazines on the other hand have a circulation in the low 5 digits, creating differences in reach per advertising dollar spent of up to 100x.
Digital is however changing not only how yachting businesses are run, but has also made its way to superyachts themselves. Systems onboard are becoming increasingly controllable by iPads spread throughout the vessels that manage AV systems, blinds and lighting. Meanwhile, a need to remain in permanent contact with the outside world coupled with demanding guests and owners has brought stable internet connections to yachts.
These new times of connectivity have however created unrest amongst some industry professionals fearing that yachts may become increasingly targets of cyberattacks due to their lack of IT protection. In 2013, a team of researchers from Texas had in fact already managed to spoof navigational equipment during an experiment ran on 65m White Rose of Drachs.
The digital revolution has also become a way for new startups to test new business models in yachting, such as FLOAT, an application letting its users rent yachts by the seat from as little as €99 across its own fleet. Throughout the summer, FLOAT's routes have been almost fully booked, sailing the startup to profitability.
Whereas it remains to be seen what other transformations will occur in the yachting space in the future, digital will clearly play a large role in the next few years as the sector continues to become more open and optimised.
Southern Wind has delivered the SW96 Liberty after successful sea trials. The latest addition to its fleet designed by Farr Yacht Design and Nauta Design, Liberty emphasizes racing while maintaining luxury. The owner, a European yachtsman on his second Southern Wind Yacht, expressed his satisfaction after his first sailing experience in Cape Town. Built with a foam core and infused carbon skins, Liberty boasts a lightship displacement of 62 tonnes, ensuring excellent speed even in light air. Her Hall Spars high-modulus carbon mast and boom, along with EC6+ carbon rigging, enhance her performance further.Featuring full water lines and a lifting keel, Liberty is easy to control in various conditions. Her raised saloon layout and panoramic windows provide ample light, complemented by the largest hull portlights in the series. The deck showcases the latest Southern Wind “Twin Fold” transom.With three guest cabins and a spacious owner's suite, Liberty offers comfort alongside exhilarating performance.Now SW96 Liberty embarks on her 7500 mile Maiden Voyage from Cape Town to the Mediterreanean Sea.Southern Wind is a boutique bluewater sailing yacht shipyard founded in Cape Town in 1991. Since its foundation, SWS has specialized in the production of semi-custom high-performance superyachts.Credits: Southern Wind
April 23, 2024
Yonca Shipyard, a renowned builder of state-of-the-art composite vessels with a strong presence in the defense sector, has announced the launch of Mishi Yachts, a new brand targeting the sailing superyacht market.With a sprawling facility covering 44,000 square meters, half of which is under cover, Yonca Shipyard is equipped to construct vessels up to 160 ft in length and weighing over 400 tonnes. The yard's cutting-edge construction capabilities enable the production of up to 20 naval and leisure yachts annually.While excelling in various materials, Yonca's expertise lies in high-speed composite vessels, renowned for their robustness, seaworthiness, and impressive top speeds ranging from 40 to 80 knots.Şakir YılmaztürkChairman and founder, Şakir Yılmaztürk, expressed the shipyard's enthusiasm for venturing into the leisure marine sector. "Yonca Shipyard is esteemed in the defense industry and has served as the builder behind other esteemed yachting brands," said Yılmaztürk. "With 36 years of honed skills and capabilities, we are delighted to introduce Mishi Yachts, focusing on luxury sailing superyachts."Mishi Yachts' debut offerings include designs for an 88 ft and a 102 ft luxury sailing yacht, embodying the expertise and craftsmanship synonymous with Yonca Shipyard. The yard collaborates with renowned naval architects and designers to ensure superior performance and enduring quality.Yonca's proficiency in complex mold design and flawless composite work positions it as a leader in the industry. From CNC milling to vacuum infusion, the yard's meticulous approach ensures impeccable standards in fiberglass construction. Additionally, its finishing capabilities, including woodworking and stainless steel fabrication, further attest to its commitment to excellence.Mishi Yachts management board: Şakir Yılmaztürk, Erdem Yılmaztür and Didem Yılmaztürk Ulusoy"We are driven by the same passion and dedication that fueled our inception in 1986," stated Yılmaztürk. "Our reputation for composite craftsmanship and engineering excellence positions us to seize opportunities in the superyacht market. We look forward to delivering exceptional vessels that embody the essence of Mishi Yachts."Founded in 1986, Yonca Shipyard aimed to lead in fast boat design and advanced composites. Despite doubts, handcrafted boats reflected our vision. Now an industrial-scale enterprise, the shipyard produces cutting-edge pleasure, commercial, and naval craft. Yonca Shipyard delivered more than 180 ships and boats, specializing in fast interceptor craft and patrol boats for defense and law enforcement agencies.Credits: Pozitif Studio/Yonca Shipyard
April 23, 2024
On April 22nd, the Boatbuilding Technology Centre, the House of Swan in Pietarsaari, Finland, witnessed the launch of the first unit of the Swan 88 featuring hybrid electric propulsion. The Swan 88 is a groundbreaking model, meticulously developed to offer a hybrid electric propulsion option in collaboration with Torqeedo. This innovative project continues the successful partnership with German Frers for Naval Architecture, Misa Poggi for Interior Design, and Lucio Micheletti, Micheletti + Partners, for the exterior styling.A defining feature of this new project is the coachroof's shape, inspired by the wind, boasting essential and dynamic lines. The transom beckons to the 'Beach Club' swim platform. With a focus on space, functional quality, and on-board comfort, both indoors and outdoors, the Swan 88 is designed to impress. Natural light floods in from the stunning 'atrium' companionway, coachroof, and hull windows, providing a bright interior ambiance.The Swan 88 offers Owners a super-smart opportunity to reduce running costs through chartering. This performance maxi design ingeniously complies with the critical 24-meter load line length rule for light MCA charter regulations. Nautor Swan's decision to develop this vessel aims to offer a true performance superyacht based on an efficient platform, minimizing management costs, and simplifying the charter certification process.Dedicated cruising appendages include a moderate draught fin T-keel of 4 meters and twin rudders, providing advantages such as reduced draught, enhanced safety, and excellent sailing balance. The hull and deck boast full carbon fiber epoxy construction, utilizing Sprint® lamination technology and the yard's advanced carbon mold technology."The Swan 88 marks an important milestone for the shipyard's production. It's the first hybrid propulsion yacht, showcasing our constant collaboration with Torqeedo and contributing to the study and development of similar features across the entire range, not just maxi yachts," says Giovanni Pomati, Nautor Group CEO. "This significant new model, of which we will launch the second unit in a few days, epitomizes Swan's 360-degree essence, the DNA that has made our boats recognizable worldwide for 58 years, and we are immensely proud of it."The Swan 88 will make its global debut at the Cannes Yachting Festival from September 10-15 and the Monaco Yacht Show from September 25-28.Nautor Swan was founded in 1966 in Pietarsaari, Finland. The builder entered the superyacht market in 1999. Since then, the yard has continued building high-performance sailing yachts in three different lines; ClubSwan, Swan Yachts and Maxi Swan Yachts. Credits: Nautor Swan
April 23, 2024
On Saturday, April 20, Heesen announced the delivery of YN 20150 Cinderella Noel IV, following rigorous trials in the North Sea. The owners christened their yacht on December 23, 2023, marking an unforgettable moment for all shipyard employees and subcontractors involved in the construction.Stefan Zucker and Sven Stark, the clients' surveyors and project managers, expressed their appreciation for the shipyard's efforts, stating: "We have hardly experienced such intense involvement of clients ever before."Cinderella Noel IV stands out not only for her exceptional design but also for her owners' deep involvement. With a passion for sailing, the clients actively participated in the yacht's creation, bringing practical and technical insights from years of experience on the water.During three days of sea trials in challenging conditions, Cinderella Noel IV surpassed all expectations. Captain Bob van Zundert praised her swift responses and exceptional handling, even in rough seas.Built on a proven engineering platform, Cinderella Noel IV integrates a hybrid propulsion system chosen by the owner to minimize environmental impact. Heesen's hybrid system, powered by twin MTU 8V4000 M63 main engines and Danfoss electric motors, ensures cleaner, quieter, and more efficient cruising.Rick van de Wetering, Heesen's Chief Operating Officer, expressed pride in the collaboration with the owners and their teams, highlighting the strong bond formed during the 41-month construction period. He concluded, "On behalf of everyone at the shipyard, we wish them fair winds and following seas on their wonderful yacht."Heesen Yachts is a Dutch ship building company that specializes in custom-built superyachts in aluminum and steel from 30m to 70m in size. Founded in 1978, it has launched more than 170 yachts since its inception.Credits: Ruben Griffioen/Heesen Yachts
April 22, 2024
The Italian Sea Group (TISG) has been honored with the "Best Performing Large Size Company" award at the Alychlo Awards 2024, marking its third consecutive win in this category.TISG secured the recognition for its outstanding turnover and EBITDA results, which ranked as the best in its reference category.The awards ceremony took place at the enchanting Pairi Daiza, a renowned botanical garden and zoo, bringing together 160 guests, including entrepreneurs and managers from companies in which Alychlo, the family investment company of Belgian entrepreneur Marc Coucke, invests.The Alychlo Awards celebrate companies, individuals, and teams that have achieved exceptional results. In the 2023 edition, 10 prestigious awards were presented to 10 outstanding winners.Alychlo, the cornerstone investor of The Italian Sea Group since its IPO, has investments in over 40 public and private companies across various sectors, with a focus on high-value-added companies that contribute significantly to job creation."We are extremely honored to receive this recognition and to be selected among important and excellent companies," commented Giovanni Costantino, Founder & CEO of The Italian Sea Group. "We thank Mr. Marc Coucke for his constant trust in our Group since its listing on Euronext Milan. We will continue working passionately and with dedication to achieve increasingly ambitious results."The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters. Credits: The Italian Sea Group
April 22, 2024