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.
Camper & Nicholsons has been appointed central agent for the sale of the 40.05-meter Sunseeker motor yacht Berco Voyager. Built in 2018, the vessel is offered at €13.9 million with VAT paid. Sales advisor Maël Fiolet is handling the listing.The yacht represents one of the final hulls in Sunseeker's 131 series, featuring upgraded interiors and specifications exceeding standard models. The current owner has maintained the vessel with additional custom features distinguishing it from sisterships.Berco Voyager accommodates 10 guests across five cabins with crew quarters for seven personnel. The yacht has demonstrated charter operational capability and includes extended engine warranty coverage.Currently located in Sardinia, the vessel will relocate to Southern France for the upcoming show season. The listing presents a rare opportunity to acquire a 40-meter Sunseeker with proven charter history and comprehensive maintenance records.Since 1969 Sunseeker Yachts has built composite semi-custom yachts from 12m to 47m. The shipyard's main facility is located in Poole.Credits: Camper & Nicholsons
August 20, 2025
American shipyard Hargrave Custom Yachts has unveiled a new 36.5-meter design in its 120 Series, featuring exterior and interior styling by Italian designer Patrizio Facheris. The raised pilothouse model represents a departure from the yard's typical in-house design approach.Constructed in carbon-reinforced E-glass epoxy composite, the yacht meets RINA Pleasure classification standards. The vessel accommodates 12 guests and 7 crew members, with a 7.6-meter beam and 1.9-meter draft. Light displacement measures 130 tons.Performance specifications include twin Caterpillar C32 engines producing 1,900 horsepower each, enabling a maximum speed of 21.5 knots and a cruising range of 945 nautical miles. The electrical system incorporates twin Northern Lights 56kW generators with 120/208 VAC power distribution and 24V DC engine starting.Exterior finishes feature hand-laid Burmese teak decking with non-skid paint options. Hull and superstructure coatings utilize AWLGRIP and International products for durability.Hargrave includes a six-month management package with each sale. The vessel remains available for inspection ahead of its Cannes showing.Credits: Hargrave Custom Yachts
August 20, 2025
Damen Yachting has simultaneously delivered two vessels to a single owner: the 60-meter Xplorer After You and the 53-meter Yacht Support Emotional. Both yachts were constructed at Damen's Antalya shipyard with Dutch engineering support and brokered by TWW Yachts.The Xplorer 60 is designed for global exploration ranging from polar regions to Mediterranean destinations. The Yacht Support vessel provides additional crew accommodations, toy storage, and helicopter facilities to complement the main yacht's operations.Jorrit Pilaar, Damen Yachting Sales Manager, stated: "It was an absolute pleasure working with the team of TWW Yachts over the last months to get the first Xplorer 60 and the 53-metre Yacht Support ready for delivery."Enrique Tintore, Product & Design Manager, added: "This double delivery is a landmark moment for Damen Yachting," acknowledging collaboration between the company's Antalya and Vlissingen facilities.David Westwood, CEO of TWW Yachts, noted: "Their technical proficiency and reliability as a supplier allowed us to focus on the Owner's priorities with complete confidence."Both vessels will appear at next month's Monaco Yacht Show before beginning operational service. The delivery represents Damen Yachting's continued expansion in the expedition yacht and support vessel market segments. The Xplorer series (formerly SeaXplorer) and Yacht Support vessels complement Damen's existing Amels superyacht portfolio.Damen Yachting, the yacht-building division of Damen Shipyards Group, employs approximately 500 professionals across its Amels, SeaXplorer, and Yacht Support vessel programs. No purchase price was disclosed for the new build.Credits: Damen Yachting
August 20, 2025
Tureddi Group has sold the first superyacht under its recently established Tureddi Yachts brand. The 36-meter Azzurra is currently under construction with delivery scheduled for 2027. Worth Avenue Yachts brokered the sale and will provide project management during construction.The steel and aluminum yacht features exterior design by Italian studio Giamboi Design and naval architecture by Dutch firm Van Oossanen Naval Architects. The interior designer remains undisclosed, described only as a "renowned international design house" by the shipyard.Project details remain confidential, though the yard references a "wide beam, generous volume and high-level specification" incorporating latest marine technologies. Worth Avenue Yachts' Europe managing partner Mathieu Bardon stated: "This sale represents an incredible collaboration between all parties involved, supported by the trust of the buyer through a long-standing relationship."The sale marks Tureddi Group's transition from component supplier to independent yacht builder after 40 years in the marine industry. Company president Alessandro Tureddi noted the significance of this milestone for the family-owned business.The Italian shipyard recently expanded its portfolio with two new designs currently available for sale. Construction progresses at Tureddi's facility with the Azzurra representing the brand's inaugural superyacht project.Credits: Tureddi Group
August 19, 2025
William J. Healey, co-founder and former president of Viking Yacht Company, passed away on August 14, 2025 at Shore Medical Center in Somers Point, New Jersey. He was 97 years old.Healey established Viking Yacht Company with his late brother Robert T. Healey Sr. on April 1, 1964, building the New Gretna-based operation into a leading manufacturer in the recreational marine industry. Under his leadership, the company became known for its luxury yacht production and innovative workplace practices.Healey maintained direct relationships with employees, personally greeting workers by name as they left the factory each evening. He implemented comprehensive employee benefits including an on-site health department providing free medical care to workers and their families.The industrialist pioneered several manufacturing advancements, including a tri-generation facility for power generation, wastewater treatment systems, and early adoption of computer numerical control technology. He oversaw installation of solar panels on company buildings and invested in advanced manufacturing equipment including a $1 million five-axis CNC router.Healey retired in October 2013, succeeded by his son Patrick, but maintained regular presence at the New Gretna facility. His brother and co-founder Robert Healey Sr., who led the successful campaign to repeal the federal luxury tax on yachts, predeceased him in 2021.Viking Yacht Company continues operations under family leadership, maintaining its position in the luxury yacht market. The company's New Jersey facility remains one of the largest yacht manufacturing operations in the United States.Credits: Viking Yacht
August 19, 2025