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New-builds and assessing the corona-impact discussed in SuperYacht Times Webinar

Webinars
Written by
Laura Nicholls

For the seventh SuperYacht Times Webinar, Vasco Buonpensiere, Cantiere delle Marche’s Co-owner/Sales and Marketing Director, Yacht broker Fernando Nicholson from Camper & Nicholsons, Lürssen’s Sales Director, Michael Breman and Principal Consultant for Superyacht Technical Services, Andrew Tree, came together to give an oversight into the new-build sector.  

For those who didn’t manage to make the webinar, catch up here on the best bits and take some key points away on what the current situation is, and what those on the panel predict for the future.


The current situation

According to data collected from SuperYacht Times iQ on the construction book for 30m+ superyachts for the beginning of 2020, 510 yachts are due to be built - which is the highest number since 2011. For the past three years, as seen in the graph below, a third of recorded inbuild yachts remained as yachts for sale. More specifically, 146 yachts were listed for sale as speculation projects, compared to just 20 new-build projects listed for sale by their owners. 

The number of completed yachts over 30 metres per year is approximately between 150 and 160. For 2020, there are over 200 yachts due to be completed, however, around 20 to 30 per cent of these builds tend of be delayed to the following year due to various factors such as client demands or speculation projects being offered with a possible date, but only if she is sold. For the year of 2020, SYTiQ has forecasted that approximately 150 new yachts over 30 metres will be completed.SuperYacht Times Webinar: Construction book  30m+ 2010-2020Photo: SuperYacht TimesSuperYacht Times Webinar: In-build yachts new vs sold Photo: SuperYacht Times

Vasco Buonpensiere, CdM: Despite the circumstances, we're still discussing new projects with three clients. What I see happening is that those enquiring are trying to understand our products and what we're doing as a shipyard but are standing by to see what's going to happen after the corona-crisis. Those who are really already seriously engaged in the process are taking this time off to focus better on the project and develop it.”

Michael Breman, Lürssen: “We have not stopped working but have reorganised the way we work. We're working in multiple shifts like most shipyards in order to distribute people around the work floor. We have plans to deliver and are going through the process now to finalise one.”

Fernando Nicholson, Camper & Nicholsons: “I am looking after three 50m+ yachts under construction that are due to be delivered this summer. Thankfully I have a very good team in Italy that have supported me in talks with the shipyard and clients, who have all been very understanding. Now we working day-by-day as it is difficult to put a date on when these yachts are going to be delivered. Similarly, I have a project to build a 43-metre yacht and the clients are still interested - which is positive.”

Andrew Tree, Superyacht Technical Services: “We took delivery of a superyacht last Friday, which was challenging trying to do it all remotely, but with good cooperation from the whole team and a little flexibility, we got through it. The crew have now moved onboard and are going through the procedures and training.”

Project Lightning yacht launch at LürssenPhoto: Charl van Rooy / SuperYacht TimesPredictions for the future

Vasco Buonpensiere, CdM: “We have one new South American client who came to us a few weeks ago. Normally, I would have jumped on the plane and met the client, so it has been interesting coming up with a new communication model and using this time the best we can to experiment. I think that it would be very difficult to bring a new client to the point of buying at this moment in time, especially from a distance. But nothing is impossible! These times are challenging, and it's refreshing.
We need to look after each other. Sure, there are the usual tools that the government provides to help financially, but some of our subcontractors are small companies and we need to take care and make the effort to support each other. We can reschedule payments or pay upfront to help. Every day the government comes with different news, so it's very difficult to predict the future.”

Michael Breman, Lürssen: “We're all in this ship together and it's in moments like these that you really have to work together as you don't want people to leave the industry. I think most people will try to come to the most intelligent solutions to make sure that the effects, including financial hits, are mitigated. It is still too early to know what will happen, but I see an all-around positive attitude that makes you proud to be working in this industry.
When all this is over, people will have had adapted a new frame of mind, and we should all be ready because people are going to want to go boating and spend time with their families. All the boats we build are for families which is what we like to enhance about this industry, and happy owners are the best ambassadors.”Soaring yacht rolled out of her build shedPhoto: Tom van OossanenKeep up with SuperYacht Times' weekly webinar programme here. All sessions are free to attend and participants can register via the links in this programme.

The SuperYacht Times iQ Report

SuperYacht Times - The State of Yachting 2020

Being the intelligence partner for the top shipyards and yacht brokers in the world, we have learned to analyse and track the market in great detail. Each year our leading market report is used by investors, CEOs, owners and other key decision makers to inform themselves on the state of the market and future developments. Find all the information you need on the market, fleet, construction book, ownership nationalities and much more in our report.


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