BOATPro Monthly Digest - June Edition
BOAT International Media
BOAT International Media is the world’s leading media group serving the superyacht industry.
Piero Formenti takes the helm at Confindustria Nautica following temporary resignation of Saverio Cecchi ?
An Italian corruption scandal saw Confindustria Nautica president Saverio Cecchi “temporarily step away” from his position. Not long after, it had been reported that the yachting association’s former vice president, Piero Formenti, had stepped into the role.??
“Less than 3% of workforce” will be affected by new restructure, according to Princess Yachts ?
Following a review, the British yard announced it would be restructuring parts of the business. The changes are expected to affect a small number of management and business support roles.??
93m seized superyacht Royal Romance brought under Ukrainian flag state to facilitate auction?
According to Yevhenii Ihnatenko, the head of Ukraine’s Shipping Administration, the change was made to direct the proceeds of the yacht's sale by auction to the state budget of Ukraine. Royal Romance was previously registered under a Malaysian flag state.??
Market Report
Q1 brokerage review: industry predicts “short, mega bursts” of sales activity in 2024
By Gabrielle Lazaridis
According to official BOATPro data, sales of both new and used yachts declined by 14.3 per cent between Q1 2024 and Q1 2023, indicating a continued slowdown from the industry’s peak performance in 2021. However, experts have stressed that these results do not accurately depict the remainder of this year’s performance, especially with the industry now appearing to move away from traditional seasonal buying patterns.
Long Read
The state of the multihull market: boom time for big cats?
By Sam Fortescue
Large catamarans are growing increasingly popular. According to BOAT’s Global Order Book, the past two years alone have seen the number of ongoing projects go from 29 to 72 multihulls over 24 metres. BOATPro takes a closer look at the current state of the multihull market, who’s buying them and how this segment is likely to develop in the future.
Brokerage Spotlight: Results for May 2024
In a promising turn for the industry, the value of May brokerage sales more than tripled from the previous month, reaching a total of €502.8 million. Click here to read the full report, with data compiled by BOATPro.
Industry Insight: Archipelago Yachts founder on why he’s doubling down on methanol propulsion in yachting
Archipelago Yachts founder Dr Stephen Weatherley discusses all of the potential advantages and pitfalls of methanol propulsion in yachting, as well as the many innovations featured on board the brand’s first superyacht offering, the Archipelago 80.?
“I think retrofitting hybrids, or methanol fueling is becoming a reality. Bunkering in major ports is starting to grow, especially on the back of the growth in methanol demand from commercial container ships. It is a little bit “chicken and egg”. However, I think we will see a tipping point over the next five years.” – Archipelago Yachts founder Dr Stephen Weatherly