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.
Sanlorenzo has introduced its largest crossover yacht to date, the 36.5-meter SX120, featuring the first marine implementation of Volvo Penta's IPS Professional Platform. The yacht will debut at the Cannes Yachting Festival from September 9-14, 2025.The SX120 represents a technical evolution in the Italian builder's crossover range, combining elements of flybridge and explorer yachts. Its key innovation is the IPS Professional propulsion system, utilizing four compact 1,000 HP engines in twin-pod configuration. This setup reduces engine room space by 30% compared to conventional systems while improving fuel efficiency through Volvo Penta's Eco Mode automation and Selective Catalytic Reduction emissions treatment.Designed by Zuccon International Project with interiors by Piero Lissoni, the 270 GT yacht features a 70 sqm transformable beach club with retractable swimming pool and opening side terraces. The four-deck layout includes: lower deck with four convertible guest cabins, crew quarters, and hammam, full-beam master suite with private bow patio, dining area for 14 located at the main deck, and 360-degree lounge convertible to media/play room at the upper deck. "The IPS Professional Platform allows unique design solutions for large yachts by reclaiming space typically dedicated to propulsion," said Sanlorenzo CEO Tommaso Vincenzi. The system enables a 15% reduction in fuel consumption at cruising speeds of 12 knots, with noise levels reduced by 7dB compared to traditional shaftline configurations.Construction utilizes advanced composites with carbon fiber reinforcement in high-load areas. The first hull features Lissoni's signature interior design with steel-clad central staircase, backlit master suite headboard, and ceramic marble-effect bathroom surfaces.Two additional SX120 units are currently in production, with delivery slots available from 2027. Pricing remains undisclosed, though industry analysts estimate base configuration costs exceeding €25 million. The model expands Sanlorenzo's SX line that began with the SX76 in 2017 and now represents 28% of the builder's order book.Volvo Penta Marine Sales VP Nicola Pomi noted: "The hydrodynamically optimized counter-rotating propellers reduce energy losses by 18% while improving low-speed maneuverability." The propulsion package includes integrated hybrid readiness for future battery retrofits.With 40% more exterior space than conventional motoryachts in its class, the SX120 offers 215 sqm of deck areas including a 45 sqm sun deck. Storage capacity accommodates a 5.5-meter tender and water toys in the garage.Sanlorenzo reports strong interest in the model from European and Asian markets, with the first unit destined for Mediterranean cruising. The builder currently has 17 yachts under construction across its SX, SP, and SD lines at its Ameglia and La Spezia facilities.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 9, 2025
Silent Yachts has launched its new 24.38-meter SY80 solar-electric catamaran, scheduled for world premiere at the Cannes Yachting Festival (September 9-14, 2025). The first unit, a sold 2-Deck configuration, features four guest cabins including master and VIP suites.The SY80 offers three layout options (2-Deck, 3-Deck Open, 3-Deck Closed) with customizable deck arrangements. The inaugural model includes a 360-degree helm station, panoramic saloon, and storage for water toys in a concealed garage. Performance specifications include a 12-knot top speed, 7-8 knot cruising speed, and solar array capacity of 22.4 kWp with 522-696 kWh battery options.Two additional 3-Deck versions have been sold. No pricing was disclosed. The Italian-built catamaran expands Silent Yachts' solar-powered range, following previous models like the SY60.Silent-Yachts is producing the world’s first fully solar-sustainable oceangoing production catamaran yachts. They are powered exclusively by solar energy and capable of cruising up to 100 miles per day. In 2009, founders Heike and Michael Köhler, who have spent 6,000 days cruising more than 75,000 miles all around the world, launched the Solarwave 46, the first fully self-sufficient blue-water catamaran after years of testing solar-powered propulsion, and they have been building boats ever since. Credits: Silent-Yachts
July 9, 2025
Nominations are now open for the sixth edition of the Design Innovation Award, recognizing international excellence in marine design and innovation. The award ceremony will take place on September 19, 2025, at Palazzo Ducale during the 65th Genoa International Boat Show (September 18-23).Automotive designer Walter De Silva, recipient of the Compasso d'Oro and former head of Volkswagen Group Design, will chair the jury. "This award highlights how innovation and design quality merge with sustainability and beauty," De Silva commented.Organized by the Italian Marine Industry Association and the Genoa Boat Show, the competition has grown from 40 submissions in 2020 to over 90 entries in recent editions. The award evaluates projects based on technological advancement, sustainability, and design quality.All exhibitors at the 2025 Genoa Boat Show are eligible to participate. No submission deadline has been specified.Credits: Genoa Boat Show
July 9, 2025
Bilgin Yachts has revealed interior details of the 49.9-meter Camila, the second hull in its Bilgin 163 series, delivered in May 2024. The yacht was sold in 2023 to a U.S. client through FGI Yacht Group and Bilgin's commercial director Berkay Yılmaz.Unique Yacht Design developed the exterior, featuring extended deck spaces including a 21-meter sundeck and 12-meter bridge deck aft. Italian studio Hot Lab created the interior design, employing champagne, cream and pearl grey tones with wood, metal accents and Italian fabrics."The clean architectural volumes feature soft transitions between materials," said Hot Lab's Enrico Lumini. Notable elements include a full-height glass lobby partition, floating staircase, and sundeck skylight. The six-cabin layout includes a large beach club, with Bilgin claiming 20% more volume than comparable 48-meter yachts."Camila combines distinctive elegance with sportive exterior lines," said Yılmaz, noting the owner's active participation in the design process. No performance specifications or pricing details were disclosed. The first Bilgin 163 hull, Eternal Spark, was delivered in 2022.Bilgin Yachts is a boutique shipyard on the European side of Istanbul, building 50 to 120m luxury superyachts. It has been a family-run business for five generations since the early 1900s.Credits: Bilgin Yachts
July 7, 2025
VisionF Yachts has announced the near-completion of its new 14-meter Superfast 46 performance boat, capable of reaching 80 knots. The model will make its global debut at the Cannes Yachting Festival 2025 (September 9-14), with the first unit launching in coming weeks.The carbon fiber composite vessel features twin Mercury 450 HP Racing Sportmaster engines with Mercury's Active Trim system and Racing Revolution X propulsion. Its 3.7-meter beam and 0.47-meter draft combine with hydraulic steering and optional joystick controls for high-speed maneuverability.Technical specifications include 600-liter fuel capacity for approximately two hours of operation at maximum speed, Garmin 19" navigation displays, and a Fusion Apollo sound system. Safety systems comprise three bilge pumps and dual fire extinguishers.The Superfast 46 represents a new direction for VisionF, known primarily for luxury catamarans like its electric E-Cat series and aluminum models up to 47 meters. No pricing or delivery timelines beyond the Cannes presentation were disclosed. VisionF Yachts in Turkey was set up by Coşkun Bayraktar in Istanbul in 2019, but despite the shipyard’s relative youth it is a brand that is going places in the power catamaran world. In November 2020, VisionF Yachts debuted its first vessel, the VisionF 80. Credits: VisionF Yachts
July 7, 2025