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8 YACHT ESSENTIALS YACHT NEWS △ WINTER BOAT SHOWS SUGGEST BRIGHTER TIMES AHEAD The marine industry shows signs that it is beginning to emerge from rough waters. February’s Miami Yacht & Brokerage Show built on the success of January’s Boot Dusseldorf, with Ferretti Group, Sanlorenzo and others reporting new sales and new models. In addition, GE Capital Commercial Distribution Finance (CDF) released the findings of a survey on the health of the market, with encouraging results.
“The marine industry is starting to see signs of recovery as we move past the recession,” said Jeff Malehorn, president and CEO of CDF. More than one-third of the responding marine dealers and manufacturers (38%) expect sales to increase up to 5% this year, and 54% said that the best time for dealers to increase inventory levels is now. Ferretti Group logged its most new models introduced at the Miami show with 22, including four debuts for the Americas. “We had an outstanding show for each of the brands across the board,” said Ferruccio Rossi, country manager for Ferretti Group North America. “While attendance was consistent with last year, we saw a considerable increase in the amount of visitors from Latin America and the Caribbean, in addition to an increase in European visitor traffic.” Sanlorenzo reported the sale of two yachts at Boot Dusseldorf, a SL62 and a SL82, as well as a SL72 and a SL88 on the other side of the Atlantic during the Miami Yacht & Brokerage Show. The builder is now third in the annual Global Order Book (yachts over 80 feet); it listed 38 hulls in 2010, and in 2011 it maintained that level of orders with 37 units. “In 2009, the worst-ever year for the yachting industry, Sanlorenzo was the black swan,” said Mario Gornati, marketing manager. “While the main European and American groups were showing 30 to 40% turnover reduction, Sanlorenzo was able to limit its turnover reduction to 9%. The lower profit was due to the depreciation of the trade-in boats that in 2009 was estimated between 20 and 25%. “Sanlorenzo has been able to increase its 2010 budget by 5%. This result was achieved by delivering 19 motor yachts built by the Ameglia Division and nine composite and metal motor yachts built by the Viareggio Division. It’s important to underline that Sanlorenzo didn’t resort to an aggressive discount policy, but chose to keep the prices stable, to guarantee and preserve the owners’ investment. “As well as improving quality and service — a consideration that may be banal but also effective and indispensable — it is necessary to research new products characterized by more understatement, lower running costs and reduced fuel consumption. “Boat construction firms will have to run down their manufacturing capacity or merge in order to reduce the number of competitors; in other words, apply the same strategy adopted some time ago by the automobile industry. In times of crisis, in the same way as they turn to collectibles, customers look to those brands of longer tradition, greater solidity and consolidated experience.” —Nick Marshall www.YachtEssentials.com 9
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