Marine Industry Articles
The United Kingdom’s substantial maritime heritage, dating back to the age-old shipyards of the South Coast to the industrious northern engineering hubs, stands as a testament to its unrivalled quality. Recognized globally for its prowess in design, law, and insurance, the UK’s superyacht sector now faces a significant turning point.
At the heart of this dynamic industry lies a fundamental law: the strength of the superyacht supply chain is intrinsically linked to large superyachts’ physical presence in our waters. The so-called ‘dockside economy’ thrives when a massive 60-metre vessel makes a port or marina its temporary home, deploying a high-demand spectrum of services, from high-end provisioning to concierge services. As these marine giants serve as floating businesses, the domestic economy witnesses a chain-reaction support surge among local SMEs.
There’s no dearth of voices claiming to predict the market’s future trajectory. Industry consultants, brokers, project managers, journalists, and owners’ representatives, all opine freely. The perspective that tends to get lost in the noise, however ironically, is that of the very people who steer the shipyards. Therefore, nine of Europe’s leading shipyard executives have been asked to cut through the noise and state their own, more rooted perspectives. The result is a collective diagnosis and a barometer for the current new-build landscape.
Their responses who represent reputed shipyards like Royal Huisman, Damen Yachting, Feadship, Palumbo, Sanlorenzo, Azimut Benetti, Ferretti, Abeking and Rasmussen, and Bilgin, converge on certain themes. The past two to three years have seen these yards reorganize and transform. Facility redesigns, digital tools, and closer integration between engineering and production, along with a strict bias against late-stage revisions – all are part of this transformation.
Founder and CEO of The Italian Sea Group, Giovanni Costantino, Assumes the Title of Board’s Chairman
