A short look at the yachting industry from the outside would only reveal its
superficial traits, opulent luxury, astronomic sales prices and an insane economic
structure with exorbitant purchase orders. However parts of this are true, some
realities are often overlooked in the economics of yachting.
At first glance, it seems that the industry should have high profit margins due to this bespoke system and absence of inventory. When looking at financial data from shipyards worldwide, the numbers seem however to tell a different story. Due to the high prices of each project, turnaround is generally overwhelming but profits remain scarce. In 2014 UK-based yacht builder, Princess Yachts posted a turn around of 239.6 million pounds along with a loss of 11 million pounds. In 2015, the yacht builder has however recuperated with 1.7 million pounds of profits on a 239.7 million pounds turnaround.
Princess is doing quite well in the sector as several yacht builders based in Italy have been forced to shut down or have been bought out by external groups of investors. Cantieri di Pisa, previously part of the Baglietto group, was acquired by Mondo Marine. Baglietto itself was only saved in 2012 by Beniamino Gavio after the group posted losses of 25 million euros in 2008 and 105 million euros in 2009. Such outcomes for shipyards are not only found in Italy. In 2014, it was announced that Dutch-based, Oceanco would purchase the Turkish shipyard, Proteksan Turquoise whose rise was cut short by the infamous sinking of the 60m Yogi in Greece in 2012.
Perhaps, with a new focus for the industry on laser-focus margin control and operational execution, a new pattern has emerged within yachting. Iconic US yacht builder, Palmer Johnson, has announced the closing of its Sturgeon Bay facility to relocate production to Northern Europe stating that the European market was stronger for its yachts. Arguably, shipyards that have done the most well in the last five years are based in the golden mine of the yachting sector, Northern Europe. Amels, daughter-company of the Damen Group, has sold 28 models of its Limited Edition series with 8 more under way and 1,000 people working at the yard. Lurssen has been responsible for the launch of behemoths of the yachting world such as Azzam, Topaz or most recently Dilbar. Feadship, a cooperative venture between Royal Van Lent, De Vries shipyards and engineering company De Voogt has launched its flagship, the 101m Symphony earlier this year.
Yacht construction is however not the only large sector of activity in the market. The service industry that has developed around yachting is substantial and mostly responsible for its marketing and attracting new clients. The global yacht charter market was valued at 35 billion dollars in 2014 and is expected to reach 51 billion dollars by 2020 according to Research and Markets. Knowing that typical agency commissions on a sale are about 10 to 15 per cent, revenue for charter and brokerage agencies looks impressive, much like the high turn around in shipyards. However, one of the top yacht charter/brokerage agencies, Camper & Nicholsons international has been sold to Colosseum investments for 1 million euros after the liquidation of its parent company Rodriguez Group. Before delisting from the stock exchange in 2012, Y.CO, another major player in yacht brokerage, has posted profits of 14,650 pounds for the year of 2011. On the other hand, Merle Wood, head of Merlewood & Associates, one of the most successful yet discrete US brokerage agencies reportedly owns a 150-foot yacht himself.
Yvan Grubsky
For starters, we must state that purchasing a yacht is not a rational decision.
Factors involved in the decision making process range from unquantifiable
personal taste to ego and status. With maintenance costs orbiting around 10% of
the initial purchase price, a yacht can hardly be seen as an investment in the post subprime
crisis era. Indeed, even though the charter market has seen substantial
growth in the last five years due to a large amount of owners selling their yachts to
get rid of annual costs and a recovery in global markets, chartering is often seen as
a way to recoup costs rather than a way to profit. It therefore looks like a yacht is a
recreational, lifestyle purchase which makes it highly dependent on the state of the
market. Hence, appearing as strong, powerful brands is essential to companies
trying to sell to those high net worth clients.
Guillaume Ettori
At first glance, it seems that the industry should have high profit margins due to this bespoke system and absence of inventory. When looking at financial data from shipyards worldwide, the numbers seem however to tell a different story. Due to the high prices of each project, turnaround is generally overwhelming but profits remain scarce. In 2014 UK-based yacht builder, Princess Yachts posted a turn around of 239.6 million pounds along with a loss of 11 million pounds. In 2015, the yacht builder has however recuperated with 1.7 million pounds of profits on a 239.7 million pounds turnaround.
Princess is doing quite well in the sector as several yacht builders based in Italy have been forced to shut down or have been bought out by external groups of investors. Cantieri di Pisa, previously part of the Baglietto group, was acquired by Mondo Marine. Baglietto itself was only saved in 2012 by Beniamino Gavio after the group posted losses of 25 million euros in 2008 and 105 million euros in 2009. Such outcomes for shipyards are not only found in Italy. In 2014, it was announced that Dutch-based, Oceanco would purchase the Turkish shipyard, Proteksan Turquoise whose rise was cut short by the infamous sinking of the 60m Yogi in Greece in 2012.
Perhaps, with a new focus for the industry on laser-focus margin control and operational execution, a new pattern has emerged within yachting. Iconic US yacht builder, Palmer Johnson, has announced the closing of its Sturgeon Bay facility to relocate production to Northern Europe stating that the European market was stronger for its yachts. Arguably, shipyards that have done the most well in the last five years are based in the golden mine of the yachting sector, Northern Europe. Amels, daughter-company of the Damen Group, has sold 28 models of its Limited Edition series with 8 more under way and 1,000 people working at the yard. Lurssen has been responsible for the launch of behemoths of the yachting world such as Azzam, Topaz or most recently Dilbar. Feadship, a cooperative venture between Royal Van Lent, De Vries shipyards and engineering company De Voogt has launched its flagship, the 101m Symphony earlier this year.
Yacht construction is however not the only large sector of activity in the market. The service industry that has developed around yachting is substantial and mostly responsible for its marketing and attracting new clients. The global yacht charter market was valued at 35 billion dollars in 2014 and is expected to reach 51 billion dollars by 2020 according to Research and Markets. Knowing that typical agency commissions on a sale are about 10 to 15 per cent, revenue for charter and brokerage agencies looks impressive, much like the high turn around in shipyards. However, one of the top yacht charter/brokerage agencies, Camper & Nicholsons international has been sold to Colosseum investments for 1 million euros after the liquidation of its parent company Rodriguez Group. Before delisting from the stock exchange in 2012, Y.CO, another major player in yacht brokerage, has posted profits of 14,650 pounds for the year of 2011. On the other hand, Merle Wood, head of Merlewood & Associates, one of the most successful yet discrete US brokerage agencies reportedly owns a 150-foot yacht himself.
The 42.2-meter motor yacht Song of Songs has entered the market at EUR22,888,000 through Camper & Nicholsons, with Chief Commercial Officer Asia Julien Solari and Sales Broker Della Pearce representing the central agency. The vessel is also available for charter in Southeast Asia.Constructed in 2023 by Heysea Yachts as the first model on their Asteria 139 platform, Song of Songs was designed in collaboration with VYD Studio. The 431GT yacht features a semi-displacement hull powered by twin Caterpillar C32 ACERT engines, achieving a top speed of 19 knots with a 2,000 nautical mile range at 14 knots cruising speed.The yacht's layout accommodates twelve guests across six cabins, including an upper deck master suite with private aft terrace, a main deck secondary master, and three VIP suites plus one convertible cabin on the lower deck. Crew quarters provide for seven staff members.Notable amenities comprise a 120 square meter sun deck with hardtop-covered dining area and bar, a main deck beach club with transformer platform, and a forward lounge area featuring a hot tub. The contemporary interior design utilizes light oak joinery and marble finishes throughout the living spaces.With 26,300 liters of fuel capacity and average consumption of 320 liters per hour at cruising speed, the yacht is equipped for extended voyages. A 120KVA Kohler generator handles onboard power requirements. The vessel's design emphasizes indoor-outdoor connectivity through extensive glazing and multiple al fresco entertainment areas.Credits: Camper & Nicholsons
July 25, 2025
Nautor Swan will field sixteen yachts in this year's Rolex Fastnet Race, representing nearly the entire production history of the Finnish builder. The fleet includes models ranging from classic Sparkman & Stephens designs to contemporary German Frers creations.The 100th edition of the 695-nautical-mile race begins July 26 from Cowes, Isle of Wight, with a record 451 entries from 34 nations. The course passes Fastnet Rock off Ireland before finishing in Cherbourg-en-Cotentin, France.At a pre-race reception hosted by Nautor Swan Global Service at the Royal Air Force Yacht Club in Hamble, the all-female crewed Swan 46 Anne Bonny received the Spirit of Swan Award. The yacht is sailed by Belgian team "Swanne Bonny."Notable entrants include:Coco De Mer (Swan 62RS)Truwen (Swan 38)Galiana Withsecure (Swan 55)Miri (Swan 48)The participation follows recent Swan successes including ClubSwan 125 Skorpios' 2021 line honors victory and Swan 441 Best Buddies' dual handicap win at the Aegean 600. Simultaneously, the new ClubSwan 28 makes its competitive debut at Lake Garda.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
July 25, 2025
Azimut|Benetti Group has completed the renovation of its corporate headquarters in Avigliana, Italy, representing a €50 million investment in the historic facility. The project was inaugurated on July 24 by Chair Giovanna Vitelli and CEO Marco Valle, along with Avigliana Mayor Andrea Archinà and approximately 1,500 employees.The redesign was led by AMDL CIRCLE and architect Michele De Lucchi, who oversaw the restyling of the main building and construction of a new multifunctional pavilion. Settanta7 handled the complete renovation of employee offices, implementing modern workspace configurations to facilitate collaboration. The project included significant upgrades to the building's energy efficiency systems.The new metallic-clad entrance pavilion creates a visual dialogue with the original 1990s structure designed by Gabetti & Isola. Floor-to-ceiling glazing throughout the complex reflects Azimut's nautical design philosophy, mirroring the company's 2003 innovation of replacing portholes with hull glazing. Three panoramic meeting rooms - named Gogamigoga, Goga and Goghina after founder Paolo Vitelli's boats - offer views of the Sacra di San Michele landmark.A new Virtual Reality center serves as the technical hub of the facility, allowing the Style and Technical Offices to collaborate on yacht designs and enabling owners to customize layouts through immersive technology. The workspace redesign eliminates traditional hierarchical office structures in favor of open, transparent environments with shared workspaces."The new pavilion honors our 50-year history while projecting our future," said Giovanna Vitelli. "Like the Louvre pyramid, it represents changing times while respecting the past."The renovated headquarters will become fully operational in September 2025. The project maintains the facility's original architectural character while incorporating modern workplace design principles. No operational disruptions are anticipated during the transition period.Founded in 1873, Benetti is the oldest Italian shipyard specializing in luxury yachts. Benetti designs, builds and sells composite vessels from 29 to 44m and steel and aluminum boats from 37 to over 100m. The fleet consists of five categories: Class, Oasis, B.Yond, B.Now and Custom to meet all the needs of the market. Benetti belongs to the Azimut|Benetti Group, the largest privately owned luxury yachting group in the world.Credits: Azimut|Benetti Group
July 25, 2025
The first unit of the Ferretti Yachts 800 was launched on July 18 at the company's Cattolica shipyard. Measuring 24.47 meters in length with a 5.91-meter beam, the model completes the brand's flybridge range renewal initiated in 2018.Developed by Ferretti Group's Engineering Department and the Strategic Product Committee chaired by Piero Ferrari, the yacht features exterior design by architect Filippo Salvetti and interiors by Ideaeitalia. A version with shortened swim platform (maintaining 24-meter overall length) will be available for French market compliance.The main deck incorporates a 7-square-meter beach area with glass parapet, connecting to a crew section with three cabins accessible via portside walkway. Interior spaces feature 2-meter ceilings and extensive glazing, with the showcased unit displaying Classic styling with warm tones. The layout includes a living area with corner sofa, separate dining space with galley access, and isolated crew circulation paths.Accommodations comprise a master suite, VIP cabin, and two guest cabins totaling eight berths, all with en-suite bathrooms. The 40-square-meter flybridge offers an al fresco dining area, bar unit, and flexible aft lounge space.The inaugural unit is powered by twin 1800 hp MAN V12 engines, achieving a top speed of 31 knots and cruising at 27 knots. The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
July 24, 2025
Sanlorenzo will debut its new 33-meter SL110A motor yacht at the Cannes Yachting Festival from September 9-14, 2025. The vessel represents the latest iteration of the shipyard's asymmetrical design series, following previous SL102A and SL106A models.Developed in collaboration with Zuccon International Project for exterior design and Piero Lissoni for interiors, the SL110A combines structural innovation with performance capabilities reaching 27 knots. The asymmetrical hull configuration provides 15% more interior volume compared to conventional designs through strategic spatial planning, including staggered port and starboard gangways that maximize usable area."The asymmetry is not just aesthetic: it unlocks greater interior space, uninterrupted views, and a feeling of openness that transforms life on board," stated Sanlorenzo CEO Tommaso Vincenzi.The yacht's redesigned bow area replaces traditional anchor storage with an integrated sea-facing terrace and swimming pool. Retractable bulwarks create 8 square meters of additional deck space when anchored, while a pivoting stern platform accommodates both tender and jet ski storage. The full-beam master suite spans 45 square meters with direct access to the foredeck pool area.Interior accommodations include five cabins for 10 guests, with two convertible twin/double staterooms. Crew quarters provide six berths in three cabins with a separate mess area. Material selections feature Calacatta marble, resin-finished ceilings, and engineered wood paneling throughout living spaces.Bernardo Zuccon of Zuccon International Project noted: "Asymmetry on SL110A is not simply a formal gesture - but a tool to reshape the spatial harmony onboard." The design eliminates 30% of traditional structural obstructions compared to previous models, improving sightlines across 210 square meters of total deck area.Technical enhancements include upgraded sound insulation in engine compartments and improved stabilization systems. The flybridge offers configurable layouts as either sun lounge or dining space, while the main deck lounge incorporates sliding glass walls that expand to create a 22 square meter waterside terrace when stationary.Production will continue at Sanlorenzo's La Spezia facility, with the Cannes display model being the first of six scheduled builds for 2026 delivery. Base pricing starts at €18 million before customization options. The SL110A represents the continued development of Sanlorenzo's asymmetrical series, which currently accounts for 40% of the shipyard's motor yacht orders.Sanlorenzo was founded in 1958 in Viareggio by yacht builder Gionvanni Jannetti. In 2005, Massimo Perrotti became the majority shareholder in the shipyard. Sanlorenzo builds yachts ranging from 28.60 to 73 meters in length. Credits: Sanlorenzo
July 24, 2025