Leaders

Giovanna Vitelli, Azimut-Benetti, Paolo Vitelli, Benetti, Oasis Deck, B.Yond, B.Now, Oasis 40M, Azimut, Grande, Magellano, Vincenzo De Cotiis, Fly, Viareggio, Cannes Yachting Festival, Genoa International Boat Show, Global Order Book, Motopanfilo, House of Yachting, Low Emission Yachts, Volvo, IPS, Rolls-Royce, Benetti Fast, Grande 26M, Pod 4,600, ZF

Taking The Lead: Giovanna Vitelli of Azimut-Benetti

Leaders / yachtstyle2020

Taking The Lead: Giovanna Vitelli of Azimut-Benetti

January 19, 2023
4:22 pm

Giovanna Vitelli, Vice-President of Azimut-Benetti Group, explains why the family-owned company is enjoying record orders and tops the Global Order Book for a 23rd successive year, plus why she’s pushing for more transparency in fuel consumption and emissions. Interview: John Higginson.

Giovanna Vitelli at the launch of B.Yond 37M

What has led to Azimut-Benetti’s “all-time high” record book and the company finishing last year by increasing its lead at the top of the Global Order Book?
I can’t recall when the market has been like this. It has been booming for the past year or so. Our order book was up to €3 billion after the first two boat shows of the season, the Cannes Yachting Festival and the Genoa International Boat Show (in September 2022). It’s a record for us, not only for the value of the order book but especially for the duration, as we have orders for deliveries up to 2026 and 2027.

Such an order book helps us plan production because we can foresee our orders. It’s great in terms of value but also in terms of giving stability for many years. It’s also recognition from the market. Why has this happened? For all the industry, the pandemic was incredible. None of us was expecting this. It led to people rediscovering the pleasure of yachting, being in a place where you’re free, both in terms of where you can move and in terms of choosing the people around you.

This applies from the smaller models to the big yachts. We have been probably luckier or better than others in introducing trends that became even more popular during the pandemic, such as this idea to go back to nature. Our Benetti Oasis has enjoyed record sales. It’s incredible. For the Oasis 40M, we had to double the moulds to satisfy the demand. This has never happened before for a 40m yacht.

Benetti Oasis 40M introduced the Oasis Deck

The idea is to have a beach club which is really a beach area, not a cave where you go inside. Instead, you go back to being close to the sea, to the water, enjoying one connected area between inside and outside, with big windows that open. This lifestyle-focused design has been extremely successful, especially in certain mature markets, with Europe the forerunner.

So, why has Azimut-Benetti led the Global Order Book for superyachts for 23 years?
It’s a reflection of the business going well. It’s a reflection of being winners on the market with our yachts, which is rewarding because it means we’re selected by many owners. However, the growth can’t be fast and big forever, because we want to keep quality under control.

We don’t want to grow our facilities even though the market is booming now. We are at the limit, which is why our deliveries are so far ahead. We don’t want to push production too much today, but to keep the situation under control, especially quality wise.

The Group says it has anticipated the trends and wishes of existing owners while gradually acquiring younger owners, with an average age of 45 for Azimut buyers and 55 for Benetti clients. How have you achieved this?
It’s interesting from a social perspective to see how the profiles of wealthy people are changing, and that’s not just in this industry but across the globe. In the past, it took you a lifetime to become really rich, but in the new economy, digital technologies have changed this.

Vitelli speaks at the Discover the House of Yachting event in Viareggio

In Benetti, we still have the classic navettas or the Motopanfilo [37M], but in the last five years we’ve added some extra product ranges more focused on a lifestyle proposition, such as the Oasis. Even in the steel production, the B.Now series, we propose a more traditional stern and the Oasis Deck® version, which is extremely popular.

Can you tell us more about your focus on Low Emission Yachts, which Azimut says accounts for over half of its current models.
Our new-generation Low Emission Yachts offer considerable reduction in consumption, about 20-30 per cent less than the market average. This has even started to become a selling point. In the Azimut Grande range, we’ve focused on three elements for 10 years. Firstly, the light weight of the models due to the extensive use of carbon-fibre, which we produce internally for the superstructure.

Secondly, our hull shapes, including some that are patented such as the D2P (displacement to planing), which is even more efficient in its latest generation.

Azimut Grande 26M features the POD 4600 propulsion system by ZF

The third ingredient is the propulsion and having the best propulsion for the type of yacht we use. We’ve been pioneers in pods. First, it was with Volvo, such as the triple installation of the IPS on the Azimut line, then it was Rolls-Royce pods on the Benetti Fast series. Now, the new Azimut Grande 26M is the first to have the Pod 4,600 system by ZF.

So, basically weight, hull efficiency and pods. The combination of the three elements brings effective results in terms of reducing consumption, which means less emissions – and we’re not talking a couple of per cent.

We’re also very interested in ideas for the future, so we’re involved in new fuels, hydrogen and so on, but that is the next stage. Today, we believe hybrid electric propulsion is an answer.

Benetti B.Yond 37M uses a new Siemens hybrid propulsion system

We recently launched the Benetti B.Yond 37M, the greenest yacht in its class. Its Siemens hybrid propulsion system reduces CO2 (carbon dioxide) by 24 per cent and NOX (nitrogen oxides) by 85 per cent. New applications are always a risk, so it was truly an entrepreneurial decision. We discussed it within the company, with the sales team initially preferring to have the systems tested elsewhere.

However, we as a family, especially my father, were saying, “If you want to stay ahead, you have to take a risk.” We worked cheek to cheek with Siemens and the system proved to work very well. Of course, it’s much more work for the technical department, so these steps in technology are a challenge, but this is how you show you’re a leader.

What are your thoughts on the Water Revolution Foundation’s new Yacht Environmental Transparency Index?
People often talk about sustainability in very generic ways, and I think we should all try to use figures with an index. To me, the only real index today is consumption, because it’s something that can be tested and used to compare boats. I think the industry should start to only talk about numbers and not just people talking about the “most sustainable materials” but without a tangible approach. I think it’s important to show the real commitment of the industry to this topic.

The 30M is the flagship of Azimut’s Magellano series

I think the idea for the Water Revolution Foundation to establish an index is absolutely the right one, because the industry doesn’t have one, although I believe YETI (click for news article) consumption is a good index. I believe should be passed to an independent authority such as a class society, for example, so it’s not part of an association with members and we take away all possible ‘second thoughts’ behind that. I think the concept is right, but should probably pass from the Water Revolution Foundation to an independent body at a certain point.

What do you think will be the major change in superyachts in the coming years?
I think sustainability and reducing emissions is a necessity. We should not go against the regulations, but we do need regulations that allow shipyards and engine and propulsion producers the time to adapt to new standards.

Even at the association level, I think we should join forces in developing these new technologies together. In the end, the competitive advantage you have in announcing you’re the first with hybrid propulsion or hydrogen is a brief marketing advantage of a few days. In an industry with high investment but few units, we should be more together. I am on the Board in SYBAss (Superyacht Builders Association) and I want to push more in that direction. It’s better to invest our energies and money together.

How do you view the Asia market, where Azimut and Benetti have a strong history and continue to be very popular?
Asia has always been a very rewarding market and we have a long relationship with the region. After my father bought Benetti in 1984, the Hong Kong-based owner of Ambrosia was a minority shareholder. He was a very good customer of Benetti and fell in love with the company, so that helped us enter the market before others.

The Oasis Deck® option is offered on the B.Now series including the 67M

We sell models across our ranges, both from Azimut and Benetti, into Asia and I believe the owners there are sophisticated customers. The mainland China market is yet to evolve properly and is not progressing as we had all hoped, for a variety of reasons including boating regulations and free use of the coastline. We see Chinese owners keeping their boats elsewhere. In the short term, I don’t see a market of middle class owners buying 50-60ft Azimuts and moving up in size, like elsewhere.

Marine Italia is one of Azimut’s most successful dealers, based in Hong Kong but also representing the brand in Taiwan, Guangdong and Singapore. They’ve traditionally sold a lot of Fly and Grande models, but are now starting to sell more models from the Magellano line, which your father highlighted as one of his most important initiatives in Azimut’s first 50 years. What is the appeal of this line?
Magellano has been a revolution in yachting, as the first crossover model in the market. It was conceived in 2007 and launched in 2009. We were followed by many other shipyards, from the small ones to the big ones, and now everybody talks about crossovers. The idea was inspired by trawlers, designed for long cruises, where you enjoy volume and comfort inside.

However, the Magellano is efficient in displacement mode and has a bit more speed than conservative trawlers, so owners can reach 22-24 knots if they need to reach a port quickly or the weather suddenly changes.

Azimut’s Magellano 25M revived the series

The flagship Magellano 30M we launched at the last Cannes Yachting Festival is amazing and we had double-figure sales before it was at any show. I believe in this concept and personally cruised on a Magellano 25M a couple of years ago, having spent all my life on planing hulls. I made a long cruise in a short time because I had to take it from our Fano shipyard (on Italy’s Adriatic coast) all the way down to the southern part of Italy and back north and on to the Cannes show.

Many times, I was eating lunch during navigation – it was so pleasant, even at 21 knots. You can eat and sleep during navigation because it’s so smooth over the waves. It’s a different way of cruising. There’s a lot of internal space with a contemporary design, without that traditional feeling of the old trawlers.

How have you enjoyed collaborating with Vincenzo De Cotiis, whose first yachting projects were the interiors of the Magellano 25M and 30M models?
When he started working with us, all the interior magazines in the US asked for an exclusive because he’s a big name. He’s an architect as well as an artist. He designs collectibles and is represented in New York by the Carpenters Workshop Gallery, which is renowned around the world. He brings an architectural approach and some ideas for the layout I wasn’t expecting and was really impressed with, especially as he had never worked in the industry.

Vincenzo De Cotiis on the Magellano 25M

For example, on the Magellano 25M, it was the first time I’ve ever heard somebody say to me, ‘In the main saloon, why do you put the dining table like this (athwartships), which is a visual obstacle once you get in. If you turn it (along the centreline), the boat has a much wider effect and is much more pleasant, with better service.”

Then when I cruised on the model, I always kept it longitudinally, because he’s right: you don’t have such a big structure in your view, which changes the effect of the boat.

He also plays a lot with mirrors, so you always have a view of the sea and the feeling of water. On top of that, for his collectibles, he has this idea of combining poor materials with rich materials, but these poor materials are reinterpreted. He told me, “My favourite material is fibreglass because I personally convert it by hand and put in some colour powder myself, providing this effect, a mixture between a textile, a resin, a material which does not exist.”

Interior detail on the Magellano 25M

So, the options include this artistic fibreglass, which is handmade, according to his recipe! It’s very textural. It has nothing to do with the fibreglass we’re used to and it’s fascinating because it’s such a typical marine material completely converted into something you wouldn’t recognise as such. It’s very interesting.

On the Magellano 30M, where we propose both this material and more traditional options, most of the customers went for the design from De Cotiis.

His design is very sophisticated. It’s a contemporary interior, but different to what you see on other boats, which are often an empty box where the customer can play with loose furniture, typically by the big brands like Minotti and Poltrona Frau. I believe the Magellano is very interesting because the interior is a contemporary interpretation but with a very specific personality.

As Vice President, you work directly with your father Paolo, President of Azimut-Benetti. What have you learnt from him and how do you work together?

I’ve learned from my father that in this market, you win with the product. Marketing is nice, but you must win on the market with your boats. Even in the period of the global economic crisis in 2008 and 2009, we didn’t save one penny in product development. That made a difference. It was an opportunity to gain market share in those years because we were able to keep investing in new products. Our focus is to keep our feet on the ground and concentrate on being winners in what we offer to our customers.

Paolo and Giovanna Vitelli

Since working together, we’ve planned and managed an important change from the founders’ time to the next stage. Today, Azimut-Benetti is a billion-dollar turnover company. Over 10 years, we planned the growth of our management, so we have a clear governance, where the family has the vision and we are still the ones to decide on the product development. The product is then based on a committee that I coordinate but then delegate and leave space to managers, because this is the way you grow.

The company could not exist as a one-man or one-woman show. I believe we’re on the right path, as this is a way to prepare the company in the future for growing bigger, maybe going public or involving more managers. I think this is a path for good, sustainable growth rather than keeping the family 100 per cent hands on and limiting expansion.

Today, my father is involved in the strategic vision, fortunately, but much less involved in the everyday business. Apart from the B.Yond family, which really came from his spirit and vision, he’s not that involved in the rest of the product development anymore. Sometimes, when I have a little doubt, I go to him for advice, but it’s more about my personal concerns. He’s spending more time on his hospitality activities, as the family owns several hotels in the mountains, but he keeps an eye on the company.
www.azimutbenetti.it

GIOVANNA VITELLI

Since 2000, Giovanna Vitelli has been a member of the Board of Azimut-Benetti Group, which is owned by her father Paolo, who founded Azimut in 1969 and acquired Benetti in 1984. She is currently Vice-President with executive responsibility on product strategy and development, as well as Group R&D. Prior to entering the family-owned Group, Giovanna graduated in Law from Turin University and practised in one of Italy’s leading law firms, Bonelli Erede Pappalardo in Milan.

Note: The original interview appears in Issue 69 (click to download/read PDF).

Petros Michelidakis on Boot Dusseldorf, Blue Innovation Dock (Pt 2)

Leaders / yachtstyle2020

Petros Michelidakis on Boot Dusseldorf, Blue Innovation Dock (Pt 2)

January 12, 2023
1:25 am

Part two of an interview with the Director of Boot Düsseldorf about the first Blue Innovation Dock and the return of the world’s biggest indoor boat show, which includes some exciting new attractions.

Petros Michelidakis, Director of Boot Düsseldorf

The 2023 edition of Boot Dusseldorf (January 21-29) will include the first Blue Innovation Dock forum, which will be held in Hall 10 across all nine days of the show.

From the opening Saturday on January 21, the forum will address the following topics: Leaders dialogue – business meets politics; Sustainable propulsion; Financing innovation and start-up disruption; Future fuels; Circular materials; Sustainable nautical tourism and water sports; Innovation for sustainability; Engaging NGOs and all players; and Engaging citizens and boaters.

Free for Boot Düsseldorf visitors and exhibitors, the Blue Innovation Dock has strong support from the yachting industry, with Groupe Beneteau as Performance Partner, Sanlorenzo as Project Partner and Pool Partners including Azimut, Bavaria, Brunswick, D-Marin, ePropulsion, Fabiani, Greenline, Princess, Sunreef and Torqeedo.

Following is the second part of an interview with Petros Michelidakis, Director of Boot Dusseldorf. For part 1 of the interview, please click here.

What are you hoping for after nine days of the Blue Innovation Dock?

That the information we’ve conveyed about our sector to political decision-makers was sufficient to speed up developments in terms of sustainability. Although our watersports only account for 0.1 per cent of EU-wide emissions, it’s important we contribute to keeping our destinations clean and making them cleaner.

The Blue Innovation Dock will be held in Hall 10

It would be fantastic if we could create a framework that is cross-sectoral and EU-wide. Why do Spaniards and Germans protect seaweed in their respective ways and Greeks don’t? And I am Greek. We must enter into dialogue. It’s not about who’s right but about conserving our destinations for generations to come.

What do you tell young people who are concerned about this very topic?

That the water sports industry is dependent on a clean climate and waters. As a networking platform, Boot will continue to raise awareness among society, young and old alike. Above all, we will promote dialogue with decision-makers in politics to ensure the necessary transformation and create the appropriate framework conditions.

Will NGOs also have a say?

Yes. All NGOs that are represented at boot – such as WWF, Greenpeace, NABU or Deutsche Meeresstiftung – are called upon to get involved and join the discussion. ‘Engaging NGOs and all players’ on Saturday, January 28 has been scheduled for this.

What discussions are you most likely to be attending?

I would very much like to participate on the first day when politicians will discuss with shipyard representatives. Quite prominent guests have announced their participation. Furthermore, each day of the Blue Innovation Dock is an innovation driver for the industry, which is why I’ll try to follow all subjects addressed.

Let’s talk about the boat show itself. After two cancelled editions, will Boot return to its old strength and size?

We are very satisfied with bookings received so far, which are on par with 2019, and will present watersports in their entirety on a huge exhibition area measuring 31 football pitches in total.

How many exhibitors will there be?

We expect around 1,500 exhibitors – a fantastic number in the history of Boot. Unfortunately, many small family-run businesses in the diving segment have not survived the Covid crisis, so we’re missing these exhibitors along with direct sales operations that have completely gone online. Nevertheless, there’s no other trade fair in the world with such extended ranges and, what’s more, in such an international setting.

Incidentally, the first admission ticket was sold to Iceland. This visitor will travel to Boot because he offers whale watching and intends to gradually renew his fleet.

Sunseeker 95 Yacht

Can you share some highlights you’re looking forward to?

It’s always difficult to pick some brands because they are all near and dear to my heart. The biggest yachts will come from Sunseeker (95 Yacht) and Sanlorenzo (SD90), both being about 30m LOA. In Hall 17 we will be showcasing – with celebrity support – wing surfing and wing foiling on a 60m long pool and in Hall 12 the new diving tower will be inaugurated. This is also where the opening of Boot will take place.

Halls 13 and 14 seem to be halls that also target visitors who don’t own boats.

Exactly. The Destination Seaside halls are designed to reflect the versatility of holidays by the sea; they focus on activities and regions. Coastal tourism here will be represented by the Lübecker Bucht, Portugal and Croatia as exhibitors. In future, these will probably be very important halls to win over new watersports enthusiasts.

To conclude, will Covid still be an issue at boot?

Boot will be held under completely normal conditions, the way we know and love. We’ve installed 3,000 Hepa filters in the exhibition halls to filter 99.99 per cent of all viruses out of the air, so the indoor air is constantly purified. This allows us to reduce energy consumption by not having to supply as much fresh air.

www.boot.de

Boot Director Petros Michelidakis on the Blue Innovation Dock

Leaders / yachtstyle2020

Boot Director Petros Michelidakis on the Blue Innovation Dock

January 5, 2023
2:27 pm

The Director of Boot Düsseldorf explains the background and ambitions of the first Blue Innovation Dock, which will be held on all nine days of the world’s largest indoor boat show.

The Blue Innovation Dock will be held in Hall 10 from January 21-29

This year’s edition of Boot Düsseldorf includes the Blue Innovation Dock (BID) forum, a ‘new platform for sustainability and transformation’, with a different topic (click here for details) on each of its nine days. The content partner is European Boating Industry and the programme covers exhibitors’ innovations, goals and developments from the international watersports community, and even European politics.

Free for Boot Düsseldorf visitors and exhibitors, the nine-day forum will be held in Hall 10 and has strong support from the yachting industry, with Groupe Beneteau as Performance Partner, Sanlorenzo as Project Partner and Pool Partners including Azimut, Bavaria, Brunswick, D-Marin, ePropulsion, Fabiani, Greenline, Princess, Sunreef and Torqeedo.

The topics for the nine days are, in chronological order: Leaders dialogue – business meets politics, Sustainable propulsion, Financing innovation & start-up disruption, Future fuels, Circular materials, Sustainable nautical tourism and water sports, Innovation for sustainability, Engaging NGOs and all players, and Engaging citizens and boaters.

Petros Michelidakis, Director of Boot Düsseldorf, answers questions about the Blue Innovation Dock, whose programme (regularly updated) and list of speakers can be found by clicking here.

Petros Michelidakis, Director of Boot Düsseldorf

What can we expect from the Blue Innovation Dock?

We had this idea for quite some time, but could not put it into practice because of the pandemic. The Blue Innovation Dock is designed to intensify dialogue between the sector and policymakers. We want to flag up the relevance of the watersports industry and encourage a legal framework that allows the industry to grow.

Now is the time to chart the course for the future. Our virtual premiere last August already resulted in the EU developing a watersports roadmap that will be presented at Boot for the first time. I am a little proud of that.

What role does Boot play in the Blue Innovation Dock?

We are the world’s largest watersports trade fair and therefore very suitable as a platform. We have both B2C and B2B visitors and all major boatbuilders and shipyards are here. Boot is predestined for intensifying dialogue. Although not pioneers in this field, we are ideally suited to bringing together the greatest number of key stakeholders.

Which topics will be on the table?

The whole cross-section of topics will be addressed. Do e-fuels make sense? How well suited is hydrogen as a fuel? How can marinas be digitalised faster? Can we involve water sportspeople to protect endangered regions? How will we be boating in 30 years from now?

To table the right topics and gain an insight into opinions, we initiated a study. In cooperation with ADAC, we polled 1,500 boating enthusiasts plus members of our Boot Club. This means, the Blue Innovation Dock is very close to the market, which is why I hope politicians and other decision-makers will be following it attentively. Even today, 100 exhibitors will be presenting sustainable propulsion solutions at Boot 2023.

Halls 13 and 14 will be dedicated to the Destination Seaside. Coastal tourism is a hot topic. Will it also be integrated into the Blue Innovation Dock?

The coastal tourism theme is highly topical and relevant. This tourism in the immediate vicinity of the seaside and up to 11 km inland generates €240 billion in Europe every year. Of this amount, the watersports industry generates between 11-12 per cent, so about €25-30 million. This survey was carried out by us in cooperation with the European Tourism Board.

A small aside on this. Boats only contribute as little as 0.1 per cent to the entire C02 emissions in the EU. What we’re talking about here are 6.5 million boats up to 24m LOA, which are registered in the EU. They have an average of 35-50 operating hours per year.

As an industry, we must go that extra mile occasionally because we are in the public eye, especially when it comes to larger yachts. I see them as part of coastal tourism and like to compare them to hotels, as they are used for living, eating and enjoying entertainment. And how many yachts are berthed in marinas that serve as a residence? In Greece, for example, this is very popular.

So, this is also about societal change?

Absolutely. Let’s have a look at how we will most probably be living in future. We will have a four-day working week. Young people will select the employers who can offer this and the boating industry is also fighting for this day.

We need to remember how the boats and yachts are used here. We must become far more digital and invest while the market situation is good. We have also created the Blue Innovation Dock for this, for inspirations in this regard.

Is there a willingness to change?

I understand from the response to the Blue Innovation Dock that the interest from the industry is very high. What’s more, the numbers speak for themselves. We are a market worth billions that can probably still be expanded if society changes the way many experts forecast. As a boatbuilder or shipyard, I could think about how I could participate in that market even better with my product. This will probably mean looking at use rather than design or propulsion.

Can Boot visitors attend the Blue Innovation Dock without any registration?

Yes. They can simply take a seat, listen and be inspired. We will make some 40-50 seats available and have already enlisted speakers and panellists to appear on stage. On the first day, there will be a session involving policy makers and business, so the initial course can be charted. The updated programme can be found on our website and will be featured on Boot’s social media channels.
www.boot.de

Note: Part two of the interview to follow.

Paul Blanc on Jeanneau’s new directions

Leaders / yachtstyle2020

Paul Blanc on Jeanneau’s new directions

December 29, 2022
12:06 am

While expecting record annual turnover, Jeanneau’s Brand Director talks about the company’s exciting paths, led by the launches of its first DB luxury dayboat, biggest Merry Fisher and 65ft flagship sailing yacht, while looking forward to notable debuts in 2023.

Paul Blanc, Brand Director, Jeanneau

Why did Jeanneau create the DB/43 luxury dayboat, which is a huge design leap for the brand?

Boaters are increasingly using their boats for short day trips, even on big boats. In the 30-50ft size, luxury dayboats are progressively becoming the main segment of the market, especially in the Mediterranean and in Florida. It will overtake the classic express cruiser design and I think it will be the style of boat you’ll see everywhere in 5-10 years. We’ve invested in this segment because we believe it’s the future. It’s a very good move for Jeanneau. We would never go into a niche market, so we needed to be sure it was a sustainable trend, not a passing fad. We saw other brands going into it, so we can’t pretend we’re pioneers. We decided to design a luxury day boat when we were sure our clients would appreciate it and demand would last.

Jeanneau DB/43 is the first model in the DB line

We then asked ourselves: If we design a luxury day boat, what is a Jeanneau and how do we approach it? We recognised Jeanneau would always be a family boat, versatile and functional, so it should offer more than the competition. The style, outside entertainment areas and space are in line with the codes of a luxury dayboat. The DB/43 is very sexy. Camillo Garroni did an excellent job on the styling and the lines are very sophisticated. He brought a design inspired by cars, with a sculpted hull. However, we also wanted to offer nice cabins below deck because our clients might go out for the day with friends or kids 90 per cent of the time, but maybe one or two weeks a year, they’ll want to do a longer cruise and go island hopping. They need a nice master cabin and good storage, so that’s how we approached it.

Drop-down sides on the DB/43

The DB/43 brings a bit more rationality in a market segment that’s not the most rational, because it’s party boats before anything else, but we make it usable in a lot of different conditions.

What have early sales been like?

Everything sells well now. It’s more how fast it sells, and it has sold very quickly. Before its first show at the Cannes Yachting Festival (in September 2022), we’d received 50 orders, so it’s sold out until at least the summer of 2023. It was the starting phase of showing the boat and we already had a year of production secured. The feedback at boat shows is above our expectations, so we’re very happy. People go to the competition, then come to the DB/43 and see it offers more, especially inside. They can do more with this boat. And it still has Jeanneau DNA: functional, family friendly and versatile.

The DB/37 is set to debut at Boot Dusseldorf

What’s next for the DB series?

We’ll roll out a full range within the next two years. It’s important to have a series so clients can be offered the same concept in different sizes and budgets, and then move through the range. (Since this interview, Jeanneau has announced it will debut the DB/37 at Boot Dusseldorf from January 21-29, 2023 – click for article.)

Which is Jeanneau’s most popular motorboat range in Asia?

The larger Merry Fisher models. The cabin and enclosed space offer more versatility and comfort, whether it’s for air-conditioning or to have a proper bathroom. Models like the Merry Fisher 895 and 1095 have been very popular, and now we’re launching the new 1295 Fly, so that’s going to be very interesting.

The 1295 Fly is the new Merry Fisher flagship

With outboard engines, the 1295 is an interesting alternative to inboard motor yachts in markets where you can’t easily maintain inboard engines. Servicing outboard engines is possible pretty much anywhere, whether it’s Indonesia or the Philippines, because outboards are used on many professional boats. The 1295 is also interesting because it’s over 41ft with a comfortable flybridge and nice bow lounge area, big enough to entertain large parties, which is important for Asian markets.

With the Merry Fisher 1295 Fly measuring 41ft, Jeanneau is starting to overlap with luxury flybridge motor yacht builders including Prestige, a sister brand. It’s an alternative. The 1295 Fly has a different price point and a different interior finish than Prestige. And some people may prefer inboard engines like on a Prestige for the bathing platform and lower fuel consumption. Although when you look at your overall usage cost, it’s more economical to go for outboards.

CGI of the Jeanneau Yachts 55

Among your sailing boats, the Jeanneau Yachts 60 and 65 launched in 2021 and 2022 respectively. However, the 55 set to debut at Boot Dusseldorf in January 2023 offers a completely new proposition, with an aft deck offering expansive seating and lounging areas. We wanted to innovate on the 55. The monohull sailboat market is one of the boating segments that’s not growing much, losing market share to catamarans and powerboats because people want more outdoor space and features like big sunbeds. Sailing boats designed for offshore voyages are very protected, but once you cross one ocean, you spend six months in a tropical destination where you want a very open design. On the other hand, open designs aren’t so suitable for offshore voyages, because you want protection when there’s bad weather. On the Jeanneau Yachts 55 we bring the best of both worlds with a dual cockpit concept. You have the enclosed cockpit forward, offering great protection during offshore passages, and when you arrive at a destination, you have this huge, relaxing aft deck platform using the whole beam of the boat, which has never been seen before on a monohull. I think it will be very attractive to a lot of our owners with that sailing programme.

CGI of the Jeanneau Yachts 55 interior

Owners sail as a couple or family 90 per cent of the time and it’s only during holidays that they invite a couple of friends to join for a bit of a trip, so the 55’s design with the private owner suite and fully independent guest suites is another great unique feature.

So, the Jeanneau Yachts 55 is competing with sailing catamarans as much as monohulls?

We’ve seen some of our owners moving to catamarans, but sometimes they regret it because they miss the sailing sensations and manoeuvrability of monohulls. What they want on the catamaran is purely the functionality and the space organisation, not specifically the two hulls. By offering more living space on our monohull, owners can get the functionality and privacy, without giving up the pleasure of sailing. We already see a strong demand for the 55. When we presented it to our dealers, who know their clients very well, the first thing they said was, ‘I know a client who was about to move to a catamaran, but he’ll love this’. They really see that we got it right. It’s about bringing back interest in monohulls, not competing against other models.

Jeanneau Yachts 65 is the brand flagship

Are you happy with sales of the Jeanneau Yachts 60 and the 65?

Yes. Our clients have received these new designs very well. They’re true to the Jeanneau DNA and we benefit from a very strong customer base in the Jeanneau Yachts family; half the people buying them are existing Jeanneau owners upgrading. Back in 2008, Jeanneau launched the [Sun Odyssey] 54 DS, which was the first model of the Jeanneau Yachts style, and since then we’ve been renewing the designs, adding a little bit more with each new model. With the 55 we challenged ourselves even more. I think it’s going to be interesting to test this innovative design, before bringing some of those features to other models in the future.

In Asia, how is Jeanneau doing in the 30-50ft sector with the Sun Odyssey and Sun Fast ranges?

Still strong, but in Asia and developing markets in general, people are tempted to go to power boats because it’s less intimidating and they like to get to their destination quickly. There isn’t really the culture of taking time to cruise. It’s hard to get people into sailing when they haven’t grown up with it.

Jeanneau Sun Odyssey 380

We need to work on how to bring people into sailing, not only Jeanneau but the whole industry, because it’s a cleaner way of boating and a different philosophy of life. We make Jeanneau sailboats easy to use and accessible, so that everyone can sail with basic training.

How has Jeanneau handled production in the Covid era, with increased demand but supply chain issues?

We expect to deliver 3,500 boats in 2022, which is a record year in terms of volume and turnover. We’re producing more than before Covid, but sometimes deliveries can be delayed if we need to wait for parts. Covid has been an eye-opener for many; it’s been a call to enjoy life. Even if the market craze is behind us, we believe the demand will continue to be strong.

Why are you confident?

People wealthy enough to afford a boat above 30ft are usually entrepreneurs. Their businesses are doing well. Any inflation may also apply to their assets, so they’re quite resilient to inflation. A key economic indicator – which is quite reassuring – is that savings in the bank are at a record high, compared to 2008 when people were in debt.

The Merry Fisher 1095 Fly

We live in a world full of questions around the Ukraine war, energy crisis or inflation, but if our clients want to enjoy life and escape these questions, they can afford a boat. And if you have the money, why wait? Covid had this impact. If you have a dream, just do it now. Typically, our clients are not much wealthier than they were in 2019, but back then they were thinking about other priorities or that they should keep saving more money. During Covid, they realised they wanted to do something with their family that would take them away from all the trouble and they went for it. I think people will continue to be in this mindset of enjoying life now.

The Cap Camarat 1250 WA

They’re also more flexible in their organisation of time and that makes a huge difference. If they want, they can work three days at the office and two days from their boats, so that’s four days a week on their boat, which is a big change. I think the demand will continue to be strong. Of course, it might be a soft landing and the market will cool down, but I don’t see the demand stopping anytime e soon. www.jeanneau.com

PAUL BLANC

Blanc has been Jeanneau’s Brand Director since April 2020, having spent over 16 years in Asia. After working for Peugeot in Paris, he was Marketing Director of Citroen China in Beijing from January 2004-December 2007. He then spent two years between Beijing and Shanghai as General Manager (Greater China) of On Product Publishing Group. In April 2010, he began a 10-year role as Jeanneau’s Asia-Pacific Sales Director, moving from Shanghai to Hong Kong, where he was also Managing Director of Groupe Beneteau Asia Pacific from July 2018 to April 2020.

TYBA President reflects on second Thailand Charter Week

Leaders / yachtstyle2020

TYBA President reflects on second Thailand Charter Week

December 1, 2022
1:00 pm

Ditapong Thitadilok, President of the Thai Yachting Business Association, talks about organising the first post-Covid Thailand Charter Week, which built on the inaugural edition in 2019.

Ditapong Thitadilok, President of TYBA (Thai Yachting Business Association)

What were the major changes to this year’s Thailand Charter Week compared to the first edition three years ago?
The yachting industry has received more support from the Thai Government. Yachting has been included in the country’s strategic marine tourism plan and has been a critical mechanism for restoring the economy through tourism.

The Thai Government has officially allowed foreign superyachts to do charter business since early 2021. As a result, there has been much interest from superyachts to charter in Thai waters. The show also had a lot of interest and had three 30m-plus superyachts (click for article), which showed significant growth from 2019.

Ditapong with Phiphat Ratchakitprakarn (second right), Minister of Tourism and Sports

What was the feedback from the Government Ministers, Tourism Authority of Thailand and Phuket authorities this year?
Mr Phiphat Ratchakitprakarn, the Minister of Tourism and Sports, fully supported the Thailand Charter Week and the yachting industry (click for article). He has encouraged Thailand Charter Week to become bigger and better next year. Images, video and other media content from this year’s Thailand Charter Week will be used to promote Thailand’s marine tourism globally.

Tourism Authority of Thailand (TAT) and Phuket province have also helped establish Thailand Charter Week on the event calendar. Thailand Charter Week has become a significant event for Thailand’s marine tourism.

VIPs at the Thailand Charter Week opening ceremony

What were the best aspects of this year’s Thailand Charter Week?
Support from government and private companies increased and there was a wider of variety of businesses, not just yachting. It means the marine industry has widened and can be a part of other industry groups. The best part of this year’s edition was the cooperation between TYBA members, the Government, charter brokers and local agents.

Which parts of the Thailand Charter Week can be improved?
Announcing the event. We had limited time to prepare for this year’s Thailand Charter Week as there was still doubt about the exact plan to reopen Thailand to visitors and tourists. However, we expected to have more yachts and more international visitors. We will have more time to prepare for the 2023 edition. As organisers, we have already started a plan to make the event better.

Some potential exhibitors said they didn’t participate because all their yachts were being chartered. Do you think the Thailand Charter Week should be held at a different time?
We think this period is the best time for Thailand Charter Week. This year, some charter businesses were too busy because Thailand had just reopened fully since the Covid pandemic. We’re creating another marketing channel to allow companies and yachts that can’t attend Thailand Charter Week to communicate with visitors. Of course, all visitors can still contact the yachts, yacht management companies or central agents.
www.thaiyachtingbusinessassociation.com

Julien Solari: Singapore thriving as a superyacht hub

Leaders / yachtstyle2020

Julien Solari: Singapore thriving as a superyacht hub

December 1, 2022
4:34 am

In a Column for YACHT STYLE Issue 68, Simpson Marine’s Julien Solari reveals how Singapore is living up to its reputation as one of Asia’s key yachting hubs, with Sanlorenzo driving a lot of the city’s superyacht activity.

One of Asia’s leading financial centres, Singapore is a fantastic place for superyachts to dock and prepare for further exploration of the region. With its ideal location in the heart of Southeast Asia, it allows for easy access to Thailand, Malaysia and Indonesia.

Last year, ONE°15 Marina Sentosa Cove – where Simpson Marine is based and has a dedicated Sanlorenzo Asia lounge – completed an upgrade and reconfiguration to increase the number of spaces for 80ft-plus superyachts from 15 to 33, including several 50m-plus berths in a dedicated superyacht area, facing the marina club.

This major project has significantly helped us to bring in more superyachts on a permanent basis, as berthing space is typically one of the major concerns of superyacht owners and captains in the region.

While there are many superyachts berthed at ONE°15 Marina including Lady Candy (Benetti), Double Haven (Feadship) and Petra Tara (Admiral), I am delighted to witness that Sanlorenzo superyachts currently take up almost half of the superyacht dock.

At present, Sanlorenzo superyachts include two 44.5m Alloy models, a 46Steel and an SD96, while an SX88 is joining them. One of the Alloy yachts features a custom layout, impeccable decoration by Christian Liaigre and a wide range of facilities that combine to give her owner an experience that might only be expected from a much larger yacht.

Among the Alloy model’s notable features is a 148sqm, three-level owner suite with a private terrace and pool. In recognition of her outstanding design, the Alloy was crowned as a winner in this year’s World Superyacht Awards, in the category of ‘Semi-Displacement or Planing Motor Yachts, 40m and above’.

Sanlorenzo has been building high-quality motor yachts since 1958 and has pushed its boundaries further and further since then, embracing languages and creative forms belonging to similar worlds such as design and art.

Aside from the global partnership with Art Basel, Sanlorenzo also works with world-renowned designers like Piero Lissoni, Patricia Urquiola, Laura Sessa, Antonio Citterio, Patricia Viel, John Pawson and more. With its growing desirability thanks to its uniqueness and limited production numbers, Sanlorenzo is currently the leading shipyard in the 24m-plus segment in Singapore.

In early October, we witnessed the arrival of two Sanlorenzo superyachts at ONE°15 Marina – an Alloy and the iconic SL86, while another Alloy is in Republic of Singapore Yacht Club. More will follow, with an SD118, SX100 and SX76 among models scheduled for delivery to owners in Southeast Asia in the coming months.

We’re also grateful to the owners and friends who have trusted us to help them find their dream yacht or their house on the sea. Our good relationships with owners have helped us in our continued efforts to grow interest for superyachts. We have some major deals for very large yachts that have not been announced yet and we remain positive superyachts have their firmly established Southeast Asia hub here in Singapore.

One piece of advice we usually share with future Sanlorenzo owners is to take delivery of their brand new yacht at the shipyard in Italy. It’s a unique opportunity to enjoy a season of scenic yachting in the Mediterranean, cruising around the Italian coast and south of France, visiting the likes of Sardinia and Corsica.

Other destinations include Spain’s Balearic Islands to the west or the Adriatic Sea to the east, with Croatia and Montenegro. Owners can enjoy gorgeous waters and a superb yachting lifestyle.

They can also attend the Cannes, Genoa and Monaco yacht shows on the Riviera in September and stay at anchor in one of the nice bays around the area. Subsequently, their yacht could head to the shipyard for a couple of weeks of warranty works before being shipped to its destination in Asia, just in time to enjoy Christmas and Chinese New Year festivities in the likes of Phuket or Singapore.

After two years of business impasse due to the pandemic, we’re observing much more activity than ever. The typical owner’s profile has shifted towards a younger buyer, active businessmen and entrepreneurs from various industries including tech.

Another interesting trend is the surge of Chinese citizens in Singapore, a trend that will probably continue to expand due to severe Covid-related restrictions ongoing in Mainland China and partially in Hong Kong. Singapore has smartly outpaced every major city in Asia, and that open, business-minded policy has been reflected in the superyacht industry.

There has never been a better time to consider your superyacht purchase in the Lion City. At Simpson Marine and Sanlorenzo Asia, we offer experience and expertise to make these projects a rewarding reality for our yacht owners.

JULIEN SOLARI

Julien Solari is Singapore Country Manager for Simpson Marine, Asia’s largest yacht dealership. Having studied business and management in France, Netherlands, Denmark and Italy, the Frenchman worked in Rotterdam for three years and spent four years as a yacht broker with The World of Yachting in Nice before joining Simpson Marine in Singapore in 2017. His recent sales have included several Sanlorenzo yachts. julien.solari@simpsonmarine.com / www.simpsonmarine.com

“You only live once” by HSBC Global Private Banking

Leaders / yachtstyle2020

“You only live once” by HSBC Global Private Banking

November 14, 2022
11:40 pm

Even during a “rollercoaster” couple of years post Covid, the superyacht market in Asia has remained lively and HSBC Global Private Banking continues to help clients realise their dreams.

Jyrki Rauhio, Regional Head of Credit Advisory, Asia Pacific, HSBC Global Private Banking

Asia may not be the world’s most developed superyacht region, but it does have a dynamic new generation of owners, many of whom have been inspired to purchase in the Covid era. In fact, a superyacht as a first boat is more common in this region than in the rest of the world, where owners typically upgrade through a series of increasingly large yachts before taking the plunge and buying above 80ft or 100ft.

HSBC Global Private Banking, which has a long history of helping finance and structure superyacht purchases around Asia, revealed that earlier this year it helped a client buy a 100ft-plus yacht valued in the region of US$10 million – impressive for a first boat.

“In Asia, someone’s first yacht may be a 100-footer and our client’s first was above that length. It’s a very nice vessel,” says Jyrki Rauhio, HSBC Global Private Banking’s Regional Head of Credit Advisory, Asia Pacific. “Usually, most buyers would have had several boats before buying a superyacht, but the fact he’s spending US$10 million on his first shows the difference in the market here.”

Stressing how Covid has inspired a strong feeling of carpe diem, he cites a Hong Kong-based tycoon who has been involved in a lengthier purchase of what could be termed a megayacht. Built in Italy, it should be delivered in 2023 and has a value close to US$100 million.

“He wanted to realise a dream,” Rauhio says. “His yacht is of a serious size, but it’s a great example of a project that has been built during Covid for somebody who wanted to realise their dream. Once he gets it, he can enjoy using it far more widely than just cruising around Hong Kong.”

ROLLERCOASTER MARKET

Rauhio, whose job scope covers Asia Pacific, says the mindset of people in the region has been influenced by a reaction to the Covid era’s restrictions, much as it has elsewhere in the world.

“Everybody’s world view has changed in the last couple of years. People have altered the way they approach life, family, work, holidays and so on. There has been a feeling of ‘you live only once’,” he says. “As such, many yacht dealers have done very good business and it has also been evident in the supercar market”.

For all the upsides in the ‘trophy assets’ sector, Rauhio admits that the overall superyacht financing market spanning the various countries and regions across Asia “has been a very interesting rollercoaster, with ups and downs”.

“We’ve closed deals and we’re working on more, but it has been an interesting two or three years and the gyrations have been huge, as have the regional discrepancies.”

In Hong Kong, the yachting market picked up quickly in 2020 after the initial fear of Covid waned, leading to record yacht sales for many dealers and brokers. However, Rauhio says the post-Covid boom in the yachting market has slowed a little, coinciding with more restrictions at the start of the year and a more unsettled business climate.

“Soon after Covid began, people started getting interested in boats and many were sold in the secondary market. This was when [interest] rates were still low. Our clients came to us for funding and there was a lot of activity; we issued plenty of term sheets and closed quite a few deals,” he says.

“People getting on their boats and cruising around Sai Kung or elsewhere was the closest they had to a mini-holiday for the first couple of years of Covid.

“However, that euphoria has cooled a little. Coming into 2022, we moved into higher rates and more uncertainty, with people wondering whether buying a yacht was a good idea. Quite a lot of the people looking at these large yachts had their businesses face headwinds and had better use for their cash, although we’re still working on multiple transactions in Hong Kong.”

Rauhio says his recent travels around Southeast Asia have given him cause for optimism and gives examples of how overall wealth in Asia and around the world continues to grow.

“I’ve recently been in Jakarta, Singapore and Manila, and business prospects look pretty good, people are enjoying themselves, so I think the superyacht sector will continue doing reasonably well, although it’s subject to the market,” he says.

“The number of people holding US$250,000 in Vietnam, the Philippines and India will more than double by 2030, according to HSBC research. It’s an example of how wealth in this region will continue to grow, despite how the markets perform and geopolitical happenings. It’s an unstoppable trend and with it comes a desire for assets like yachts and other items.”

CGI c/o Fraser

QUESTION TIME

In Hong Kong late last year, HSBC Global Private Banking invited clients to visit and tour three motor yachts up to about 120ft in Deep Water Bay in an event organised with a local dealer. Rauhio was happy to see the reaction of clients, but believes potential owners should think long and hard before committing to such a purchase.

“The clients loved it, having champagne and canapes, and spending a day on a very nice yacht. It can potentially stir an impulse purchase, but clients should ask whether it makes sense for them on more than just an emotional level.”

He also cautions potential owners who may have first enjoyed yachting in the Mediterranean or Caribbean, especially if they assume a similar infrastructure for superyachts exists in Asia.

“If their first experience was on a holiday or charter in the Med or the Caribbean, they may have thought owning a yacht is a great idea,” he says. “It is a great idea in the Med, where you can easily go from port to port, but in Asia, you need to think realistically about how you can and want to use your yacht and where you want to go.”

A yacht is also very different from most other trophy assets, especially passive ones such as art or luxury watches. A superyacht is in a different cost bracket to supercars and is only partly comparable to a private jet. The rule of thumb for annual running costs of a superyacht is up to 10 per cent of the purchase price, once you include crew, insurance, berthing, fuel, maintenance and more.

“A yacht is a very complex asset to own, even more complex than a plane. You must keep a plane airworthy, but it’s highly regimented and regulated, and can be overseen by a management company. In the boat industry, certainly in Asia, it’s not plug and play, and it can be a complex process to find the right people, suppliers and support,” he says.

“The running costs are quite a large cash outflow, which is fine if you have enormous cashflow coming in, as many of our clients do. For most of our clients, it’s not a question of whether you’re rich enough but whether you really want to spend this kind of money on this asset. Do you want to get involved in all the costs and hassles of ownership?”

PERSONAL CHOICE

However, once a buyer has committed to purchase, HSBC Global Private Banking works with clients on how best to structure any purchase and how to set up ownership, and even – if needed – to help discuss the type of yacht they wish to buy.

Choosing a yacht can involve discussions about pre-owned, new or custom build, special features and size, which can be a personal choice or based on the owner’s plans, such as whether it will be used for long journeys and ocean crossings. The choices are far more varied and complicated than when choosing a private jet, when it’s far clearer how the client is likely use it.

“For a plane, a client may typically fly within Asia or to Europe or New York, and estimate that they fly 20 or so times a year, for example. Based on usage, you determine the size and narrow it down to a few options,” he says.

“Planes are more limited than yachts, where we have more of an advisory relationship. A yacht purchase is more emotional and the options for design and customisation are endless.”

He also cites a client in Australia as an example of someone who knew what he was looking for and how he was going to use it. Rauhio visited the client’s house in Sydney and was amazed at the personal involvement in the design of his upcoming yacht.

“He had a beautiful house and one of the rooms was full of blueprints of the yacht, which measures a couple of hundred feet. He had all these blueprints taped around the walls, so that was like his design room. He got very deeply involved in the actual customisation of his yacht.

“When you get to that level of involvement, you know all the questions have been answered. He then used this yacht to travel between continents, cross oceans, going up the coast from the Panama Canal to Alaska.”

CGI c/o Fraser

STRUCTURING AN ACQUISITION

Once a yacht has been identified, discussions revolve around how to structure a purchase. For starters, HSBC’s yacht financing is not about enabling purchase. Clients typically can afford the outlay and the yacht sits within a large portfolio of hard and soft assets.

“The important question for the client is, ‘Do you really want to tie up your capital for the full value of the yacht? Then you get into what we do, and this is where the financing angle comes in,” says Rauhio, who admits such discussions are a little more complex now than even just a year ago, when rates were lower.

“If you’re a successful businessperson, tying up US$50 million in an asset that yields a negative cashflow is not necessarily a smart thing. You’d rather release some liquidity from that and invest it in something that brings you a positive cashflow to help offset the cost of ownership.

“As we stress, our yacht financing is not about enabling purchase but about making your money and equity sweat harder. If you earn a 10 per cent yield on your capital in your primary activity, then even with these rates, financing makes a lot of sense while using your hard-earned cash possibly doesn’t.”

The structures of yacht financing and ownership can vary widely. Rauhio says the tycoon who ordered a yacht valued at close to US$100 million was looking how to best finance it and structure the acquisition. HSBC Global Private Banking arranged pre-delivery financing, approving a facility against the project, and has separately arranged delivery financing.

“He’s a very good client of ours and has substantial assets. We enabled him to finance the entire construction period so when the project is realised, he will take delivery, but he has been mostly using our money to build it. He then effectively puts in the equity at the end,” Rauhio says.

“We take a fair amount of risk, but because of our deep and long-term relationship with this HSBC Group connected client, we were happy to take that risk.”

Otherwise, financing structures can be more straightforward, with options including placing the boat in a trust, depending on the client and family estate. Rauhio says the financing for the first-time buyer of a US$10 million yacht was about 50 per cent LTV (loan to value).

“Basically, we need a borrower and a guarantor. Typically, you establish an SPV (special purpose vehicle) to hold and own the boat. The SPV becomes the borrower and there’s a personal guarantee by the client,” he says.

“It can make sense for a family estate to hold it in an SPV, especially if you charter the yacht. All the running costs and assets are in one place, and it can be run as a mini company, which can be used to hire the crew and make and receive all other payments.”

HSBC has also, with prior approval, put clients in touch with other clients who have been through the process, for advice and learnings.

“We can connect you with others going through the same thing,” Rauhio says. “Maybe you want to have a discussion with a like-minded millionaire locally in Asia to discuss how they did this, as opposed to having a Zoom call with somebody offshore, for example. That’s an advantage.”

Ultimately, HSBC Global Private Banking has the on-ground expertise and experience across Asia to help clients make their money work for them, offsetting some of the large costs of what’s often seen as the ultimate trophy asset but also one that can be used as a working ‘home away from home’ when required.

“As a wealth partner, we’re here to help enable our clients to do it. We even had one client who had both a yacht and a plane, and if you want to go down the trophy asset lane, we can even finance the art you want to put in your yacht,” Rauhio smiles.

“It’s all part of your wealth and we want to accompany you on your wealth journey, whether it’s hard or soft assets, commercial or leisure. If you’re thinking about a yacht, I’d encourage you to engage with us. It’s worth a discussion.”

www.privatebanking.hsbc.com

Disclaimer: Investments in emerging markets may be extremely volatile and subject to sudden fluctuations of varying magnitude due to a wide range of direct and indirect influences. Such characteristics can lead to considerable losses being incurred by those exposed to such markets. This article is not a personalised communication from HSBC to you and does not constitute and should not be construed as legal, tax or investment advice or a solicitation of the sale or recommendation of any product or service. You should not make any investment decisions based mainly or solely on this article. All investments involve risks and may experience upward or downward movements and may even become valueless.

Issued by The Hongkong and Shanghai Banking Corporation Limited

Grandtech’s Meme Poon: Heading Volvo Penta in Hong Kong

Leaders / yachtstyle2020

Grandtech’s Meme Poon: Heading Volvo Penta in Hong Kong

October 23, 2022
10:46 am

As founder and General Manager of Grandtech International Engineering, Meme Poon heads the Hong Kong dealer for Volvo Penta engines, a fixture for several leading luxury yacht builders.

What services does Grandtech International Engineering provide for Volvo Penta?

Grandtech is the authorised dealer of Volvo Penta industrial and marine engines in Hong Kong, although over 95 per cent of our business is for private yachts and five per cent is for industrial engines.

We handle the supply of spare parts, while our service team can handle pre-delivery commissioning (PDC) for new engines, annual general maintenance, ad hoc repairs, replacing of long block engines and overhaul of engine services. We typically handle an average of 20 PDCs for new boats every year, but in 2021 we recorded over 30.

What are the most popular Volvo Penta products in Hong Kong?

Volvo Penta IPS (inboard performance system) is the most popular drive in Hong Kong. It has lower emissions, lower fuel consumption, higher speeds and lower perceived noise level. The joystick for easy boating is perhaps the most well-known feature of Volvo Penta IPS.

Which yacht brands and dealers do you work with?

We work with many dealers including those representing Azimut, Absolute, Princess, Galeon, Sessa, Dufour, Jeanneau and Hanse. All Absolute and Sessa models use IPS, while Azimut and Princess, for example, use a mix of IPS and other Volvo Penta drives.

Can you outline your boating background in Hong Kong and how you joined the yachting industry?

I had no idea about yachts before I joined Jebsen Industrial, although I had some experience of windsurfing and sailing boats during school summer holidays in Hong Kong. I later obtained an Advanced Diploma in China Business and a Bachelor of Management Studies.

I had been a Senior Secretary at Rieckermann Pharmatech and Executive Secretary at Chun Yip Industrial before joining Jebsen Industrial Technology in 2009 as Personal Assistant to the BU Director. Later our BU had a structural change and set up a new customer service team to handle the whole order processing including enquiries, quotations, preparations, contracts, logistics and billing.

As Head of Customer Service from 2012, I oversaw the operation team for China and Hong Kong. In 2016, I was promoted to Sales Manager of the Volvo Penta service team, which was my first time working in the boating industry. In this new post, I had to use both my experience of machinery service at Rieckermann Pharmatech and customer service at Jebsen.

What did you learn in this new role with Volvo Penta?

I learned a lot of new things, such as going to Kwai Chung Container Terminals to accompany yacht dealers receiving new power boats. Our team checked the engines and installed the propellers. I saw the surveyor inspecting the boat and shipyard workers installing the flybridge accessories. It was amazing teamwork between all the different parties.

After Jebsen Industrial closed, how did you continue representing Volvo Penta in Hong Kong?

Sadly, Jebsen decided to suspend its cooperation with Volvo Penta in 2017, closing most industrial business lines. In Hong Kong, Volvo Penta had a third of the market share of marine engines, from sail boats to 100ft motor yachts.

We had loyal technicians who had been working on Volvo Penta engines since 1993. I believed our team could continue to support our customers in Hong Kong, so I established Grandtech and started to discuss the business plan with Volvo Penta and Jebsen.

How has IPS evolved since its introduction in 2005?

The first generations were IPS 1, 2 and 3, but now it’s IPS 10, 15, 20 and 30. IPS is always developing and the range is expanding. New advantages are related to electronic vessel control (EVC) and accessory functions.

IPS10, for example, fully integrates the engines, electronics and EVC features with the glass cockpit, and has joystick docking, electronic shift and throttle, low-speed control, and support for triple engine application. Options include the joystick, autopilot with joystick driving, and dynamic positioning system (DPS). There’s also support for the Easy Connect app and maintenance assistance with service alert.

New features in the IPS transmission include a high-capacity oil filter with pressure sensors that detect a clogged filter, oil-level sensor and water-in-the-oil sensor, while the oil exchange is done from inside the vessel.

Why is IPS popular?

A few of the many benefits when comparing to inboard shafts are up to a 40 per cent longer cruising range, 20 per cent higher top speed, 30 per cent reduced fuel consumption, 30 per cent less CO2 emissions and 50 per cent lower perceived noise. It’s easy to install and allows for more onboard space.

Along with spare parts and repairs, what else does Grandtech offer?

We offer preventive maintenance, which Volvo Penta recommends every 12 months. We stock all regular items – engine oil, filter, belt, transmission oil, coolant, zinc anode and so on – that are required for general maintenance of inboard engines from D1-D13.

We also stock items like sensors, PCUs (powertrain control units), sealing ring for drives and steering cylinders for ad hoc repair services. I should emphasise that preventive maintenance is very important for the performance and shelf life of an engine.

www.grtech.com.hk

www.volvopenta.com

Aquila Power Catamarans: 10 Years, 10 Questions

Leaders / yachtstyle2020

Aquila Power Catamarans: 10 Years, 10 Questions

October 17, 2022
12:08 am

With Aquila celebrating its 10th anniversary this year, Brand Manager Alain Raas sits down with YACHT STYLE to answer 10 questions about the builder’s rapid path to the top of the powercat market.

Alain Raas, Brand Manager, Aquila

1. With Aquila marking a decade since it was founded by MarineMax and Sino Eagle in 2012, the brand exhibited all six of its current models together for the first time at this year’s Miami International Boat Show. What are the plans for upcoming shows?

Yes, we’re ready to again show all six of our models at the Fort Lauderdale International Boat Show (October 26-30), so will be displaying the 28 Molokai, 32 Sport, 36 Sport, 44 Yacht, 54 Yacht and 70 Luxury. We’re also teasing two upcoming models, the 42 Yacht and the 47 Molokai, which are going to continue the amazing growth and success of Aquila.

We also have some very exciting news and information in terms of the development of our E-Motion hybrid power package on the 70 Luxury. The plan is then to show all six of our current models and the new 42 Yacht at the next Miami International Boat Show (February 15-19, 2023), while the 47 Molokai will also debut in 2023.

CGI of Aquila 42 Yacht

2. How does the 42 Yacht design make it different to other Aquila models?

The Aquila 42 Yacht will be a completely new model, with naval architecture firm VPLP (Marc Van Peteghem and Vincent Lauriot Prevost) at the forefront of following in the Aquila DNA. The various cabin configurations and power-package options make her a unique offering for the private owner as well as yacht charter programmes throughout the world.

The 42 is also a new introductory model for our Yacht range, further enhancing our robust product offering and presenting our loyal client base with a more affordable opportunity to move up to our flybridge models. Aquila is excited to be leading the tremendous growth in the power catamaran market after 10 years, and we continue to push the limits of our design and development teams to remain at the forefront.

Aquila 36 Sport

3. Aquila’s best-selling models are the 36 Sport and 44 Yacht, which sit below and above the 42 Yacht in the size range. Can you indicate the sales to date of the 36 and 44, and how these models rank globally among cruiser and flybridge powercat models?
Combined, the 36 Sport and 44 Yacht have sold 380 units, which is a remarkable achievement in such a short period of time. Both models are consistently at the top of domestic and/or global rankings and have helped Aquila become the world’s No. 1 power catamaran brand among private owners. Orders for both stretch into the later part of 2023 and we don’t see foresee demand waning any time soon.

Aquila 44 Yacht

Both models offer the Aquila Hydro Glide Foil™ option, providing clients with exceptional range and efficiency. Our 36 Sport owners can achieve up to 30-40 per cent gains in efficiency and range, which is amazing, while the heavier 44 Yacht gains roughly 20 per cent, tremendous for such a large yacht. Aquila’s belief is to build efficient hulls and then improve the platform with new technologies.

4. Can you tell us more about the Hydro Glide Foil System™, which was first made available as an option on the Aquila 36 Sport?

Aquila’s DNA includes focusing on hull designs that provide optimal efficiency, unmatched in the industry, at both displacement as well as cruising speeds. Our Hydro Glide Foil System™ is at the forefront of that innovation on our Aquila 36 Sport, resulting in a third of the model’s current sales selecting the foil package.

Aquila Hydro Glide Foil system

Innovation and efficiency are symbiotic to enhance new technologies that continue to evolve at Aquila as we continue to expand the offering of this option on other models, including the 44 Yacht. In the recreational boating space, Aquila is the No. 1 manufacturer for the foil system on privately owned power catamarans.

5. Can you indicate how well the 54 Yacht and 70 Luxury have sold across the globe?

Both the Aquila 54 Yacht and 70 Luxury have had unprecedented success since coming to market in early 2021. Both models are highly sought after globally, with sold units on order for the next 24 months.

Aquila 54 Yacht with Aquila tender

6. Can you update us on Asia sales of these two large models.
Sales in Asia and the Middle East continue to grow for our two largest models, with robust deliveries already on the calendar through 2024.

7. What has been the market response to the 28 Molokai, both globally and in Asia?

Having launched in December 2021 and debuted at the Miami show this February, the momentum for our two new Molokai offshore models – the standard version with centre console as well as the Cuddy version – continues to grow, with orders already confirmed for Australia, Malaysia and Thailand.

Aquila 28 Molokai

Outside of Asia, we’re shipping to Italy, France, Spain, Canada and beyond. In the US, sales and deliveries are growing daily for both models.

8. Is Aquila looking to implement any ‘green tech’ such as solar panels and lithium batteries as a standard option on its models?
As the technology matures throughout the world, Aquila is uniquely positioned to incorporate green technologies such as electric power, lithium batteries, hybrid options and others. However, it’s important for Aquila that these technologies can be supported throughout the world and don’t detract from the speed and performance that our owners demand.

Aquila 70 Luxury

Aquila is a firm believer in partnering efficient hull designs, innovations such as our Hydro Glide Foil System™, and green technology to provide our owners with a unique ability to travel the world’s waters efficiently. As such, we’re very excited as we prepare to introduce the e-Motion Hybrid System into our Aquila 70 Luxury product line, with plans to expand the technology to other select Aquila models soon.

9. How do Aquila’s projected production and sales figures for 2022 and 2023 compare to the ‘Covid years’?

Pre and post-Covid production and sales remain strong and maintain Aquila’s position as the world’s number one power catamaran manufacturer. Global supply-chain challenges related or unrelated to Covid certainly have been exhaustive and challenging for every boat manufacturer.

Aquila 32 Sport

However, Aquila has done an exceptional job leveraging our experienced logistics and manufacturing teams as well as unequalled distribution teams and partners throughout the world to mitigate these challenges. We continue to stay ahead of these challenges to ensure consistent and reliable delivery of our boats worldwide.

10. How do you expect the catamaran sector to continue growing within the yacht industry compared to the likes of monohull motor and sail boats?
Depending on each owner’s need for their water adventures, there’s a boat for everyone today. However, you only need to browse through the pages of industry magazines or walk the docks at any boat show or local marina to witness the continued growth of catamarans around the world.

Aquila production facility

The growing popularity is understandable. The wide beam of catamarans offers both more stability and greater interior volume. I’d estimate that a 60ft cat is roughly equal in volume to a 90ft monohull. A catamaran also offers separation of guest cabins between the two hulls, which can be another plus.

Other benefits include a shallow draft, which means you can access areas monohulls can’t, while the catamaran’s length compared to its volume means good value in terms of by-the-foot berthing fees in marinas. In fact, the global growth of powercats is now being seen in the development and design of marinas around the world, as more work to accommodate catamaran designs.

www.aquilaboats.com

www.simpsonmarine.com

Carmen Lau: Leading Lady

Leaders / yachtstyle2020

Carmen Lau: Leading Lady

September 26, 2022
11:41 pm

Having had a job offer with a ‘big four’ accounting firm, Carmen Lau instead decided to take “the adventurous route” by joining a Chinese shipyard in 2004. It was the start of a multi-faceted yachting career that has seen the Hong Kong-born, Canada-educated Lau develop into one of Asia’s leading superyacht specialists.

Carmen Lau, Senior Advisor, Camper & Nicholsons

Now a Senior Advisor at Camper & Nicholsons after working in the superyacht industry for 18 years, Carmen Lau still gets excited about the Monaco Yacht Show. She thinks she has attended the superyacht spectacle “over a dozen times” starting in 2004, when she was a wide-eyed Marketing Manager for Kingship Marine and new to the industry.

Celebrating its 240th anniversary this year, Camper & Nicholsons has a strong line-up at Monaco including the 65m Feadship Callisto, 55m Baglietto C and two of the largest sailing yachts at Quai l’Hirondelle – the 51m Royal Huisman Borkumriff IV (2002) and 45m Perini Navi Blush (2007).

“I’m excited every time I go to the Monaco Yacht Show, with new yachts and new ideas in the yachting world all showcased in a wonderful setting,” Carmen says. “It’s great to see the harbour filled with all these renowned superyachts because I feel like I’m watching horse racing and trying to spot the winner for my clients!”

START OF A LONG JOURNEY

Her own listings within Camper & Nicholsons have expanded this year to include the new 36.6m Tecnomar Evo 120 Lucy and the remarkable CLX96, the 29.5m CL Yachts flagship that will have its world premiere at the Fort Lauderdale International Boat Show (October 26-30).

Carmen in Monaco in 2022

Carmen, whose CAs also include the 41m aluminium powercat Royal Falcon One and 29.6m Horizon Victorious (2010), has come a long way in the industry. Born and raised in Hong Kong, she moved to Canada when she was 15 to attend high school and then the University of Toronto for a Bachelor of Business Administration.

Returning to Hong Kong, she worked briefly as an accountant and helped set up an online book store before deciding to embark on a serious career path. Deloitte formally offered her a job as an auditor, presenting a secure career pathway with one of the world’s ‘big four’ accountancy firms.

Meanwhile, Roger Liang, who founded Kingship in 2004, was looking for a marketing manager who would spend much of the week at his shipyard in Zhongshan, a ferry ride from Hong Kong.

At the 2004 Monaco Yacht Show

“One job offered a steady career path, and the other was a very adventurous route for me,” she said of the Kingship offer. “I had to be based in China and sometimes in the Hong Kong office, but it promised a lot of travel, with the opportunity to work across Asia, Europe and US. I thought was a fantastic opportunity.”

With Deloitte pressing for an answer, Liang offered Carmen the position of Marketing Manager and it was to prove a fantastic starting role for an industry newcomer, even if it tested her nerves on occasion.

Three weeks after she started, she received an 8pm call in the office from a serious prospect asking about the Expedition 110 yacht. Excited by the call, she was later among a team who later met Kingship’s first client, his captain and his engineer at the 2004 Monaco Yacht Show, where Kingship had a booth.

At the 2004 Monaco Yacht Show with Yacht Style’s Olivier Burlot (second left) and Kingship’s Roger Liang (far right)

“I had a very hands-on job. My first role was Marketing Manager, but I also helped the sales team and became Sales & Marketing Manager. Roger gave me a lot of flexibility and responsibility,” says Carmen, who visited the Monaco show and Cannes Yachting Festival regularly with Kingship, also travelling to Florida for work.

“I was also working in accounts and purchase, got involved in production and the build schedule, and every day I would go into the shipyard and meet with the workers. Roger taught me a lot, including regulations from MCA to Lloyd’s.”

WING TAI TO BENETTI

Her career steadily progressed, as she was headhunted for a series of roles that all expanded her expertise across different aspects of the industry.

From 2008 to 2011, she was Manager of Wing Tai corporation, where she represented the Hong Kong company on their multiple yacht projects. Her first role was to retrieve a 45m superyacht from a bankrupt yard in Denmark and bring it back to Hong Kong for completion.

STCW course at Warsash Maritime School in Southampton

“My first task was to speak to the lawyers and various experts, find a settlement with the court, and extract the boat from the shipyard. I flew to Aarhus in Denmark, settled the crew and went through the papers,” Carmen says.

“I was working for a very experienced and knowledgeable owner who knows every aspect of yachts. From this experience, I understood the importance of contracts and details, the mentality of an owner, as well as various ways to negotiate contracts and prepare budgets.”

Carmen also acted as an owner’s representative on a 27m Kingship launched in 2010 and a 46m Sanlorenzo. Her responsibilities included overseeing the build processes, working with the captain to ensure the projects were on schedule and built to specification and class, take delivery of the yachts on behalf of the owners, and continue to manage the yachts after acceptance.

At the 2012 Asia Pacific Superyacht Conference in Singapore as Benetti’s Asia Marketing Manager

In 2011, following an approach from Benetti CEO Vincenzo Poerio, Carmen joined the Italian shipyard’s new Asia office in Hong Kong as its Marketing Manager, working in a small team under General Manager Giordano Pellacani. The role included managing all marketing and sales promotion activities, participation at boat shows and events, and supporting local and after-sales activities.

Within three years, the new office had sold four Benetti yachts to Asia including two 56m superyachts, while the role also included marketing Azimut’s new Grande range of superyachts.

“I helped with looking after the clients and supporting sales activities,” says Carmen, whose experience grew with an STCW (Standards of Training, Certification and Watchkeeping) course at Warsash Maritime School at Solent University in Southampton.

Enjoying the 2012 Benetti Yachtmaster in Italy

“I also learnt a lot about crew requirements and the maintenance of superyachts. In Hong Kong, many crew came from smaller boats and yachts and didn’t have formal training in terms of safety, maintenance and services on board. There weren’t many experienced crew in Asia 10 years ago and I realised there was a lack of yacht management services in Asia.”

CONSULTANCY TO CAMPER

In 2014, after three years with Benetti and following the birth of her first child, Carmen founded Lighthouse Yacht Management, starting with four yachts across Europe and Hong Kong for Asian owners including Lai Sun Chairman Dr Peter Lam. Lighthouse’s services included yacht management, property management, contract consultation, brokerage and charter.

“I saw a strong demand for a tailor-made yacht service for Asian owners who looked at yachting from an Asian perspective,” says Carmen, who also had a second child during this period.

Inspecting the 37m Zeepaard in Palma in 2015

“I managed the crews with the captains, helped to organise each owner’s trip, prepared the overhead budget, and managed the annual maintenance work for the fleet of managed yachts. Then, after Lai Sun bought Camper & Nicholsons, Dr Lam asked me to join him.”

Lai Sun Development, part of the Lai Sun Group, became a major shareholder of Camper & Nicholsons in October 2016 and early the following year Carmen was appointed to head the company’s new Asia business from its Hong Kong office.

As Managing Director and a Board Member of Camper & Nicholsons Asia, she helped the company expand its staff and enter new markets across Asia-Pacific, growing its charter, management and brokerage services among Asia-based clients.

Speaking at ASMEX 2019 in Australia

It was Carmen’s most high-profile role and required overseeing an experienced team including many seasoned industry veterans, while also travelling regularly to see her family and children in the UK.

“I’ve enjoyed being on the front line, serving the most top-tier yacht owners in Asia. I travelled regularly across the region including Australia, Thailand and Japan, and during Covid I kept travelling extensively, across Europe, the Middle East and Hong Kong,” she says.

“It was a valuable experience working for a listed company in Hong Kong and finding the alignment with a now 240-year-old company in Europe. I prepared financial reports, business proposals and set budgets. It’s intriguing to work on the corporate side of business, but I find most enjoyment when I work directly with owners and talk about their yacht projects.”

As Managing Director of Camper & Nicholsons Asia at a company cocktail evening in 2020

After her four-year term finished in 2021, during a complicated time for business and travel due to Covid, her position at the company changed to Senior Advisor, so she could focus on attending to her clients’ needs.

MAJOR TRANSACTIONS

Carmen prefers the title ‘Senior Advisor’ to ‘Broker’, believing the latter has far more pressure to sell. She doesn’t see herself as a salesman but as someone who remains hands-on through all stages of a project, representing an owner’s interests before, during and even after ownership.

Carmen secured the 67m Global on behalf of an Asian owner in 2020

In fact, Carmen secured her first personal superyacht sale while still running Lighthouse Yacht Management, having travelled across Europe to conclude the deal for Zeepaard, the 37.2m JFA Yachts expedition yacht.

“This was a fun project. I travelled to Palma to inspect the yacht, then visited the yacht with the potential buyer in Italy, did her survey in Croatia and took delivery in Greece!”

Another of Carmen’s favourite transactions was the 67m US-built Global, which was launched in 1982, converted into a luxury expedition yacht by Shadow Marine in 2007, and features an enormous crane for a submarine.

The Azimut Grande 35 Metri in Hong Kong

Carmen secured the purchase on behalf of an Asian owner in Fort Lauderdale in January 2020 before the yacht eventually made its way to Asia during a difficult time for shipping due to the global spread of Covid.

In the past couple of years, she has been involved in a series of major transactions for Camper & Nicholsons including a 66m brokerage sale in collaboration with another brokerage house and consecutive sales of a new Azimut Grande 35 Metri.

Lau’s sales with C&N include the 43m Feadship Eclipse

Carmen also represented the buyer of the 43m Feadship Eclipse, which arrived in Hong Kong in early 2022 and was sold by C&N Senior Broker Alex Lees-Buckley, marking his fifth time selling the 141ft custom build from its launch in 1993.

Last year, Carmen handled the purchase of a newly designed 24m Gentleman’s Yacht being built by Codecasa and scheduled for delivery to Asia in 2023. Inspired by 1950s and 1960s designs, the yacht was conceived by designer Luca Dini, has an aluminium hull and features a mahogany finish.

The 24m Gentlemen’s Yacht by Codecasa is due in 2023

“The client is a very experienced owner who has owned a lot of yachts. Actually, he was the one who saw an image of the Gentleman’s Yacht, thought it was beautiful and asked me to follow up with Codecasa,” says Carmen, who is also currently handling multiple confidential new builds

TRUSTED REPRESENTATIVE

The number and scale of such transactions illustrate the respect and trust Carmen has earned in the elite world of Asia’s superyacht owners but also her wide-ranging experience that she has steadily built up across 18 years in the industry.

With C&N colleagues at Codecasa inspecting the 24m Gentlemen’s Yacht

“Some brokers can get excitable when they talk to clients, but I’ve been dealing directly with yacht owners since 2004,” she says.

“I’ve been lucky since I started with Kingship, because since then I’ve been headhunted for all my jobs so was trusted by my employer, who later became my client or vice-versa. I’m still around after 18 years and owners still call me about their yacht-related matters, which is my biggest achievement.”

Carmen says she doesn’t perceive any difficult being a woman in the industry but believes there can sometimes be a slightly patronising attitude towards superyacht owners from Asia.

With Dr Peter Lam, Chairman of Camper & Nicholsons

“Asia is a new market for superyachts compared to Europe and the US, so often people want to educate a billionaire owner in Asia how to use their boat. I think ‘educating an owner’ can sometimes be more discriminating than me being a woman or Asian,” she says.

“I’ve known Asian yacht owners for a long time and I’m here to work for the client. The owner tells me what they want and it’s my duty to get it done, either by working with the shipyard to find a solution or working with the owner’s team to find an alternative.”

Carmen says owners trust her not only because of word of mouth but also because she has worked on both the builder side, with Kingship and Benetti, and the owner’s side.

Carmen’s CA listings include CL Yachts’ flagship CLX96

As such, she’s able to offer balanced advice on any potential purchase, charter if required and yacht management, having also worked extensively on the financials of yacht ownership and crew requirements.

“I’ve even ‘unsold’ yachts when I didn’t think the yacht was right for the owner or if I didn’t have faith in the project,” says Carmen, who last year set up S&S Stratton to provide bespoke global investment services for select customers.

“Like everyone, I’m always learning. The business keeps evolving, a lot due to technology, but having a diverse background helps me to ask the right questions and manage situations. I’m a good mediator.”

With C&N colleagues and CL Yachts staff at the Hong Kong premiere of CLX96

Carmen, who continues to split her time between Asia and Europe, says her close connections to yacht owners may provide the most rewarding aspect of her job, but also jokes that they can provide some of her sternest challenges.

“As I’m Chinese and from Hong Kong, the yacht owners can speak to me in their first language,” she says. “They like having a direct connection, but this also means when they’re frustrated or need an answer, I’m the one they call in the middle of the night.”

http://www.camperandnicholsons.com

Viva Riva: Celebrating 180 years in style

Leaders / yachtstyle2020

Viva Riva: Celebrating 180 years in style

September 23, 2022
9:42 am

As Riva honours its 180th birthday in a year marking multiple anniversaries for the shipyard, Ferretti Group CEO Alberto Galassi talks about his special attachment to the brand, its yachts and Carlo Riva himself, as well as David Beckham’s involvement in the celebrations.
Words: John Higginson
Photos: Ferretti Group

Pierfrancesco Favino, Alberto Galassi and David Beckham at Riva’s 180th anniversary gala in Venice

When David Beckham attended Riva’s 180th anniversary gala in Venice, he wasn’t only there to add stardust and glamour to the black-tie event. Certainly, the England football icon – who literally wore a black tie – does attract publicity as one of the world’s most recognisable sporting figures.

While partly due to his looks and media savvy, Beckham’s global appeal is also due to a long and successful playing career, winning 115 caps for his country – over half as captain – and starring for iconic clubs in England (Manchester United), Spain (Real Madrid), USA (LA Galaxy), Italy (AC Milan) and France (Paris Saint-Germain).

Gran Teatro La Fenice hosted Riva’s spectacular gala evening

However, the 47-year-old was also invited to Riva’s glamorous gala at Gran Teatro La Fenice because he’s a Riva owner and because he starred with Italian actor Pierfrancesco Favino and Ferrari F1 driver Charles Leclerc in Riva The Persuaders!, the short film that debuted that evening.

Alberto Galassi, CEO of Ferretti Group and a long-time Riva owner, was a loyal viewer of The Persuaders! action-comedy TV series of the early 1970s starring Roger Moore and Tony Curtis.

Poster for Riva The Persuaders!

Even though he’s a Board Member at Manchester United’s rivals Manchester City, Galassi was delighted Beckham agreed to star in a film that features high-speed action in Ferrari and Maserati cars then Riva yachts against the backdrop of Monaco and the Côte d’Azur.

“I feel very lucky to have David Beckham as a friend and as the star of a Riva production. David is not only a British style icon and one of the world’s most admired celebrities but also a passionate Riva owner,” Galassi says.

Beckham and Favino during filming

“When we invited him to take part in Riva The Persuaders! he immediately jumped on board with great enthusiasm. This enthusiasm shines through in the short film and I believe is one of the reasons for the great response and millions of views it’s receiving on social media.”

BRAND BEYOND BOATING

In fact, 2022 marks several anniversaries for Riva, including 200 years since the birth of founder Pietro Riva and 100 years since the birth of Carlo Riva, his great grandson, who passed away in 2017. It’s also 60 years since the launch of the iconic Aquarama, which sold a staggering 765 units from 1962 to 1996, and was honoured at the gala evening on Venice’s Grand Canal.

The new limited-edition Anniversario and an Aquarama in Venice

In front of the Riva Lounge at the Gritti Palace, an Aquarama was showcased on a floating platform beside the new Anniversario, an 18-boat, limited-edition series honouring the 18 decades Riva has been afloat.

The boat has been further honoured in Riva Aquarama, a new book of photographs published by Assouline to celebrate ‘the 60^th anniversary of the launch of the most beautiful boat of all time’.

The Riva Lounge at Porto Cervo marks the Aquarama’s 60^th anniversary

The brand’s visibility in wider culture was documented two years ago in the Riva In The Movie short film starring Favino and a 300-page book paying tribute to the 69 films Riva yachts had appeared in.

Riva’s appeal beyond boating – much like Beckham’s beyond football – is also reflected in the growing series of Riva Lounge and Riva Privée ‘destinations’ offering cocktails and branded products in hotels, restaurants and clubs in the likes of Venice, Monte Carlo, Formentera, Mykonos and Palm Beach.

The Porto Cervo lounge honours Riva’s 180th anniversary

Each is decorated in classic 1950s Dolce Vita style and features hallmark details found on Riva yachts as well as the brand’s aquamarine and mahogany colours, with the latest Riva Lounge based in Porto Cervo over the summer.

And if you need to see a slice of the brand’s history, there’s a 3,200sqft permanent Riva exhibition at the Lake Como International Museum of Vintage Boats, where the seven historic boats include the vintage HaLu from the 1930s, two Series R models, a rare racer fitted with Guzzi engines and a Florida with special Scottish Madras upholstery.

The Riva display at the Lake Como International Museum of Vintage Boats

“Riva is really something else,” Galassi says. “It’s the only nautical brand everyone knows, even if they’re not interested in boats.”

THE LEGEND, THE ART

Galassi became CEO of Ferretti Group in 2014 but his connection to Riva spans almost five decades and he understands as well as anyone what makes the brand so special. He owns a Rudy and an Aquarama, and was close friends with Carlo Riva, but his attachment to the brand began back in 1974, when he was 10 years old.

That’s when Galassi’s father and his friend bought a Riva Rudy, a model launched in 1972 and later owned by the likes of actor Sean Connery and Jackie Stewart, the three-time F1 world champion.

Sean Connery owned a Riva Rudy, as did Galassi’s father

“My first connection to the Riva myth is linked to childhood, with the enchantment and amazement typical of that phase of life. I’ll always carry in my heart the magical moment when this marvellous motorboat was delivered to the dock of our family home on the Adriatic coast,” he recalls.

“As a child, I was used to spending time on the beach, so I remember the sense of freedom I felt the first time we left the shore behind us and ventured out into the open sea. That indescribable feeling is the same one I still have today, no matter which yacht I’m on. And the Riva Rudy is still ours – I could never part with it.”

Childhood memories aside, Galassi believes Riva is the yachting brand that comes closest to true art on the water, possessing DNA that puts qualities like elegance and style above trends and fashions.

Aquariva (33ft), Rivarama (44ft) and the Rivale (52ft) all sold in triple figures

The models’ clean lines, luxurious styling and detailed craftsmanship are renowned, drawing eyes wherever Rivas appear across the world. And the timeless appeal of Rivas means loyalty to the brand is often lifelong, as though each owner is buying more than a yacht.

“I’m a great lover of art, from which I constantly draw inspiration. One of my favourite artists is Lucio Fontana, a man of such genius that he managed to make his art appear simple at first glance, while containing a very rich, almost inexhaustible universe of meanings,” says Galassi, an experienced art collector.

“Riva is art. Each new model is a masterpiece, a unique work of art that enchants with its design, its beauty, the novelty of the solutions on board. Riva is also a way of life, a way of experiencing the sea, a badge of elegance you wear as an owner.

An Aquarama at Riva’s 180th anniversary gala dinner

“When I look at my Aquarama, I see a true work of art, the result of the genius of Carlo Riva and the all-Italian ability to model masterpieces. I see tradition, innovation and performance, all amalgamated by a timeless beauty I know will never tire me or any other owner.

“And behind all this is a history in which quality has always been an obsession, as proven by the 22 coats of varnish that the craftsmen of Sarnico apply before a boat is ready.”

Sergio Beretta and Mauro Micheli of Officina Italiana Design

Art is also the driving force behind Mauro Micheli, who has designed all of Riva’s yachts for almost three decades since co-founding Officina Italiana Design in 1994. He attended an art-focused high school in Bergamo and then the Accademia di Brera in Milan, only learning yacht design after joining Riva in 1984.

“I never imagined I’d stay with the same brand for almost 40 years. In fact, I didn’t even think I would be a yacht designer – I studied art,” Micheli smiles. “But for me, a boat like the Aquariva is like a sculpture.”

MAHOGANY LADIES

Part of Ferretti Group since 2000, Riva currently produces models across four ranges: Open (27-88ft), Sportfly (66-88ft), Flybridge (90-130ft) and Superyachts upwards of 50m (164ft).

Mauro Micheli designed the Aquariva to succeed the Aquarama

The yachts are built across three shipyards including the seven-hectare La Spezia facility, home since 2004 to all 76-130ft models including the new 102’ Corsaro Super and 130’ Bellissima, a world premiere at this year’s Monaco Yacht Show.

On Italy’s east coast, the eight-hectare Ferretti Group Superyacht Yard in Ancona is where Riva’s steel models have been built – including multiple units of the 50Metri – since 2014.

However, the most iconic Riva facility is the four-hectare facility in Sarnico on Lake Iseo in the inland province of Bergamo, northeast of Milan, and where all smaller models from the Iseo (27ft) to the 68’ Diable are produced.

Cantieri Riva in Sarnico on Lake Iseo was founded by Pietro Riva

It’s where Carlo Riva transformed the brand after the Second World War, but Sarnico is also where the business started in 1842 when his great-grandfather Pietro was commissioned to repair fishing boats devastated by a storm, later establishing a shipyard with his son Ernesto.

At the start of the 20th century, the business continued under the leadership of Serafino, Ernesto’s third-born son. In the 1920s, following the First World War, the shipyard started to focus on racing boats, with highlights including a Riva AZ 3 winning the 431km Pavia-Venice race in 1930.

Carlo Riva transformed the brand in the 1950s and 1960s

Carlo Riva joined the family business from a young age and took the lead following the Second World War, launching its first production boat, the Corsaro, in 1946, followed by the Ariston and twin-engine Tritone in 1950 then the Sebino and Florida two years later.

Gino Gervasoni, husband of Carlo Riva’s sister, joined the management team in 1950, while designer and naval architect Giorgio Barilani was another key addition in 1956. Yet the company’s real stars were the ‘mahogany ladies’, as Carlo Riva liked to call his beautifully varnished range of models.

Prince Rainier of Monaco on his Riva Tritone

Riva embodied La Dolce Vita on the water in the 1950s and ’60s as it became the boating brand of choice for royalty and celebrities, its appeal only heightened by the 1962 launch of the Aquarama, whose early owners included Sophia Loren.

Anita Ekberg had a Tritone, as did Prince Rainier and Princess Grace of Monaco. Peter Sellers and Britt Ekland owned an Ariston. Brigitte Bardot had a Junior, while Elizabeth Taylor and Richard Burton used one as a tender for their 46m Kalizma.

Anita Ekberg also had a Riva Tritone

“Carlo Riva boats will always and forever be the most beautiful and desirable in the world,” Galassi says.

However, by the late 1960s, Carlo Riva started to ease out of the business. In 1969, he sold the company to American firm Whittaker while remaining as Chairman and General Manager. Composite production started with the Bahia Mar 20 and Sport Fisherman 25 in 1970, but he resigned the following year, handing over the reins to Gervasoni, his brother-in-law.

“I had the good fortune to know Carlo well and I’ll always be grateful for sharing part of my journey with him. For me he was a mentor, an inspiration and an example of dedication and ingenuity,” Galassi says.

Brigitte Bardot had a Riva Junior

“He was obsessed with excellence and very strict with himself before he was with others, a quality that took his boats to the top of the world. He was not only a brilliant boat builder and a master of style but also a revolutionary industrialist and a pioneering entrepreneur to whom our country owes much. Riva is part of the heritage not only of the boating industry but of Italy.”

DESIGN & LEADERSHIP

Riva highlights from the 1970s included the Superamerica flybridge model, which launched in 1973 and had a 20-year production run in sizes from 42-50ft. In the 1980s, launches included the Corsaro 60 in 1982, while newcomers included a junior hire who would develop into Riva’s key designer for the following decades.

The Riva shipyard in Sarnico, where the brand builds its 27-68ft yachts

Micheli was in his mid-20s and had little interest in boats or design when he won a competition in 1984 to become an assistant designer in Riva’s technical office, with the art student going on to work alongside the esteemed Barilani and interior designer Mauro Pagani for many years.

Even Gervasoni was impressed by Micheli’s ability to draw freehand, although the-then CEO eventually left the yard in 1989, so ending the Riva family’s 147-year involvement in the company a year after it was bought by British group Vickers, which included Rolls- Royce.

Under Ferretti Group, Riva’s facilities expanded to La Spezia, where 76-130ft models are built

The 58’ Bahamas, presented in 1991, was the first yacht Micheli worked on. Three years later, he teamed up with Sergio Beretta, a multi-lingual businessman, to form Officina Italiana Design, which has since designed all Riva yachts.

“It’s natural,” says Micheli, when asked about the responsibility of designing for such an iconic brand. “It comes from my own instinct.”

Riva moved into its second golden era after returning to Italian ownership in 2000 when Ferretti Group bought the shipyard from Stellican, a London-based private equity firm. Early Riva models under the Ferretti Group included the Rivarama, a 44ft one-cabin cruiser that launched in 2002 and sold 140 units.

Riva’s 50m-plus steel superyachts are built at the Ferretti Group Superyacht Yard in Ancona

However, when asked for his three favourite designs for Riva, Micheli first names an earlier model, the Aquariva, the retro 33-footer that has sold 260 units when combined with the Aquariva Super, which is among Riva’s current Open models.

“Aquariva is like a car design,” he says. “I’m proud because it has been produced for over 20 years with hardly any changes to the original design.”

His other two favourites are the Rivamare – the 39-footer that launched in 2016 and sits above the Aquariva in the Open range – and the then-flagship 110’ Dolcevita, which debuted at the Monaco Grand Prix in 2018 before turning heads at that year’s Cannes Yachting Festival.

The 110’ Dolcevita is among Mauro Micheli’s favourite designs

“I love the Rivamare and also the 110’ Dolcevita, which is totally different, a big boat yet has also had great success in the market.”

Beretta, Micheli’s business partner, says Riva’s unique heritage is ingrained in the design studio, but that the brand and its boats keep evolving, reflected in the move into larger sizes, new technologies and design changes.

Last year, hard tops even began appearing on Open models, firstly as an option on the Dolceriva (48ft) and 56’ Rivale, then as standard on the new 68’ Diable.

A hard top was added to the Dolceriva last year

“Every year, new elements become part of the new Rivas,” Beretta says. “With each model, we try to include a contemporary touch, and this becomes part of the brand. Riva is still classic, but it’s a dynamic brand that’s always evolving, not stuck in the past.”

Beretta pinpoints the flagship 50Metri as an example of Riva’s timeless style, saying it doesn’t have the attention-grabbing features of many similar-sized superyachts but will stand the test of time.

“Riva boats don’t go out of fashion. For example, I think the 50Metri gets more appreciation the more time passes. It was designed with that intention, not to be flashy but long lasting in its appeal.”

The lavish private premiere for the first Riva 50Metri in Venice in 2019

Although the scale of the 50Metri distances it from Riva’s classic mahogany runabouts from its first golden era, the brand’s first steel megayacht provides a continuation of Carlo Riva’s vision and ambitions.

In the 1960s, his designs included the Caravelle (74ft) and Atlantic (88ft) series built in the Netherlands, while other designs included the 100ft Vespucci built by CRN in 1978. However, he passed away two years before first 50Metri was unveiled in 2019.

“One of my greatest satisfactions in work coincides with an equally great sorrow, because unfortunately Carlo was never able to see the Riva 50Metri, the crowning achievement of his dream of the steel and aluminium superyacht,” Galassi says.

The 102’ Corsaro Super was among Riva’s debuts at the 2022 Cannes Yacht Festival

“When I talked to him about it, he told me, ‘Make her beautiful and make her different, so you recognise she is a Riva’. I think he’d be extremely proud of this unique work of naval art.”

Carlo Riva gave the brand an unrivalled legacy in yachting. And with the company now well into its third decade under Ferretti Group, the signs are strong that Riva is in good hands as it navigates its way towards its 200th anniversary.

The Riva lounge at the Sarnico shipyard, still the brand’s beating heart

“Without a doubt, Riva will maintain its global appeal in the coming decades. Riva is a timeless icon of beauty, which has passed through various eras, gaining more and more fans and acclaim,” Galassi says. “‘I’ve got a Riva’, ‘I’ve seen a Riva’. These are words that will always make the heart beat faster.”

www.riva-yacht.com

www.ferrettigroup.com

Yann Masselot: Beneteau Admiral

Leaders / yachtstyle2020

Yann Masselot: Beneteau Admiral

September 1, 2022
2:50 pm

Now in his 30th year with Groupe Beneteau, Yann Masselot is happy to be back at the brand where he started, with the Brand Director of Beneteau overseeing exciting new motor and sailing flagships along with the builder’s long-time partnership with Simpson Marine in Asia.
Interview: John Higginson

Yann Masselot, Brand Director, Beneteau

How have you enjoyed your role as Beneteau Brand Director, following two decades with Lagoon and CNB in Bordeaux?

It’s going well. It has been 20 months already. I’m very pleased to be back at Beneteau because I was initially working for the brand when I joined Groupe Beneteau 30 years ago, so it’s like a return to my original brand, which is nice.

In Hong Kong, Simpson Marine hosted the Asia premiere of the Beneteau Grand Trawler 62 this year. What has been the response to the brand’s flagship motorboat, which takes the Swift Trawler concept to a new scale?

People have been surprised because they didn’t expect Beneteau trawlers to be at that level and size. We’re entering a market of larger trawlers that’s essentially a luxury market, where competitors include Azimut with its Magellano line, Horizon and Grand Banks. Nobody expected Beneteau to be in this sector.

Beneteau Grand Trawler 62 (far right)

The second thing that’s noticeable is our choice to go with a displacement hull. We chose that because we saw the market and customers wanting a longer range, to be able to cruise at nine knots and be able to visit more remote places. That’s very clear now.

We worked with MICAD on naval architecture and still managed to put in engines big enough to reach 20 knots with a displacement hull, which is nice for when owners do want to travel faster.

Beneteau Grand Trawler 62 in Hong Kong

We’ve typically been attracting new customers and only a few Swift Trawler owners because there’s a big price gap from the 48 to the 62. We’ve attracted customers looking at other brands and conventional flybridge motor yachts but who want more range and volume, rather than speed.

What has been the reaction to the Swift Trawler 48, which had its world premiere in Miami in February?

It’s the new flagship of the Swift Trawler range, which have semi-planing hulls so can go up to about 25 knots.

Beneteau Swift Trawler 48

It completes the Swift Trawler family, which now has the 35, 41 (Fly and Sedan) and 48. The 48 obviously offers more volume and range than the 41, but it also has a different layout and an aft galley, which is different to the former 47 and 50 models.

Asia has welcomed its first Gran Turismo 45, the new flagship of Beneteau’s range of express cruisers. What do you think makes this range so appealing?

It’s an excellent model. It’s been doing well in Europe and particularly in America. The GT range is for people who want a platform to have fun on the water. Typically, owners will cruise 30 knots for 30 minutes or one hour, anchor somewhere and then use the boat to do many activities on the water. This could be snorkelling, scuba diving, wakeboarding, jetskis and so on, so you need to be able to carry many toys on board.

Beneteau Gran Turismo 45

The GT45 is the only express cruiser of its size to offer both a garage and a hydraulic platform, so can carry a tender and a jetski. There’s also the flip-up outdoor barbecue as well as the aft window that can be raised into the ceiling, so the interior can be fully open or fully enclosed when needed.

The Antares range has also been updated in recent years and includes the Antares 11 with flybridge. What type of customer is attracted to this range?

Antares is one of our oldest Beneteau ranges, launching in the 1970s, and has changed a lot. They were initially fishing boats adapted to pleasure boats. It was mainly marketed in Europe, then Asia, especially Japan and Korea, where there’s a real passion for fishing and it worked well.

Beneteau Antares 11 Fly

A few years ago, we introduced Antares in America and it was a ‘home run’ because there’s nothing like it on the market. Today, the US – which makes up about 35 per cent of our total sales worldwide – could absorb the entire Antares production.

The customers buying these kinds of boats went from being passionate fishermen to what I call weekenders. They buy them to go cruising, exploring, do some activities, and can spend a weekend or more on board. The clients are typically couples and older than for the GT and Flyer ranges. We stopped calling Antares pleasure fishing boats and now call them weekenders.

Like new Antares models, the new Flyer models feature dropdown sides.

I’d say the opening side platform is a must-have today, especially from about the 9m range. The Sundeck models are doing well in Asia-Pacific, the Spacedeck centre-console models less so.

Beneteau Flyer 9 Sundeck

There’s a limit to the overall appeal of Flyer models in Asia because of sun protection. In many countries, they want more shelter from the sun, which people like about the Antares range. Right now, Antares is Beneteau’s most successful motorboat range in Asia.

Moving on to the sailing side, Beneteau will debut the Oceanis Yacht 60 at Cannes and a hull has already been sold to Asia, to Taiwan. What’s special about this new sailing flagship designed by Italians Roberto Biscontini and Lorenzo Argento, who also worked on the Oceanis Yacht 54 and First Yacht 53?

The 60 is the new admiral of the Oceanis fleet. We previously had the 62, which was getting old and was a very different design from the rest of the range, so we wanted a new yacht in line with the 54.

It has a master cabin in the bow with a forward-facing bed, which you usually find on much larger yachts, like over 70ft. People like the cabin because it’s better to face forward, the volume feels impressive and there’s good sound insulation because the en-suite is between the bed and the galley outside.

Beneteau Oceanis Yacht 60

Putting the galley aft of the master allows for a large, full-beam galley and allowed us to include a full-size fridge. The saloon is midships and is also full beam, and offers a spacious feeling as you come downstairs from the deck.

Can you tell us about Beneteau’s collaboration with Roberto Biscontini and Lorenzo Argento?

We’re very pleased with this collaboration. When we’re looking to change the design of a range, we do a tender and they won. Both really understood the Beneteau DNA and where we wanted to go.

Beneteau Oceanis Yacht 60

There has been a great reaction from the market and the Oceanis Yacht 54, for one, is a huge success. Their designs are a good combination of elegance, performance and design, so there was no doubt we’d work with them again on a larger Oceanis Yacht like the 60.

What should we look out for on the First 44, which also debuts at Cannes?

The First 44 is a bridge between the First Yacht 53 – their first design for us – and the new First 36. The First 44 is a luxury high-performance cruiser-racer, although not as luxurious as the 53. There are many features designed for a couple or family to go cruising. For example, if you cruise as a couple, we have a 300-litre water ballast, which is like having four or five crew on the rail. That helps.

Beneteau First 44

At this size, we have more owners cruising than racing, but we offer a performance version of the 44 with a different mast and rig. However, the performance is not as extreme as the First 36.

Lorenzo Argento was also part of a very international design team for the First 36, which Beneteau says is “the first time a mainstream production boat with full cruising facilities, a mid-market price and the full support of a worldwide dealer network has been pushed this far towards true high-performance sailing”?

The First 36 comes from the smaller First models, which are sports boats, designed to go fast and for fun, and eventually go racing. We wanted the 36 to go fast, same as the smaller models, but also to be able to go cruising, so it has real cabins, bathrooms, a proper galley and so on.

Beneteau First 36

The big challenge was to keep the weight down. It was built by our sister company Seascape in Slovenia and they managed to keep the boat even slightly under the targeted weight. It’s under 4.8 tonnes and the result is that the performance is exactly what we hoped for.

It’s a planing hull that planes from 12 knots of wind. It’s just amazing because of the design by Sam Manuard, the naval architect. I sailed it on for two days when we had around 25 knots of wind and the stability is just amazing. It’s easy to handle and that’s where you see Sam’s experience of designing offshore racing boats. I was even more impressed with the speed upwind.

Beneteau First 36

In Barcelona in April, we had 22-26 knots of wind and had good cruising sails but not high-performance sails. We had a furling jib, one reef in the main, and went upwind in choppy seas constantly at 7.4 knots, which for me is amazing on a 36-footer. Otherwise, we had a record of 17.2 knots, but it’s more the stability that impresses me.

Can you tell us about the cooperation with Seascape for the First 14, 18, 24, 27 models?

Our network of dealers was asking us to come back to the small First models. The costs of developing such a range the way we do it at Beneteau are quite high, so we reached an agreement to purchase Seascape, keeping the hulls but slightly changing the models to make them more First-like.

Simpson Marine Sailing Academy

In Thailand, Simpson Marine recently launched its Sailing Academy, which has a fleet of five First 14s, two First 18s and a First 27. It’s a nice project.

What else can we look forward to on the sailing side?

We’re pleased with our current ranges. The new 44 makes a complete range for First, with the models going from the 14 to the First Yacht 53. Oceanis also has many models from 30 to 60, so we’re just looking to renew the older models, rather than extending the ranges in terms of size.

Simpson Marine Sailing Academy

What has been the client reaction to Groupe Beneteau’s Seanapps technology?

It was first installed on the larger boats and by the end of this year, it will be installed as standard on all the models.

Initially you could see people were unsure about it, that it’s yet another app. However, we’ve kept developing the connection between Seanapps and more parts of the boat and different equipment, and there will be more, so now people have a real interest in it.

Beneteau Antares 11 Fly

It’s a way to secure your boat, to know the battery levels, the bilge pump, all the gauges and so on. We’re entering a generation of customers that are using apps, just like you have for most new cars on the market, so it’s starting to feel normal to have an app like this for a boat.

The second Beneteau Cup Hong Kong will be held from October 29-30. How important is it to have this type of regatta for Beneteau owners in Asia?

Beneteau has run these events throughout the world for many years. However, I think Simpson Marine and Beneteau Asia Pacific were very brave to run this event last year because it was the first sailing event in Hong Kong after the lockdown. The Beneteau owners were just ecstatic, and people were so happy to be back on the water and together again.

Beneteau Cup Hong Kong

For us, it’s an important event because it’s part of the Beneteau spirit and the Beneteau family, so our owners are happy there’s a second one coming up.

www.beneteau.com

www.simpsonmarine.com

YANN MASSELOT

Masselot has been Beneteau Brand Director since October 2020, based in Saint-Gilles- Croix-de-Vie in Vendee on France’s west coast. He graduated from the European Institute of Business in Paris and holds an MBA from Audencia Business School in Nantes. Masselot joined the Beneteau brand in 1992, working in sales for the recreational business and then professional boats in the UK and France. In 2000, he took over commercial activity at Lagoon and within three years the launch of innovative products and rapid development of its distribution network made the brand a world leader in cruising catamarans. Having been Deputy CEO of the Lagoon and CNB brands in Bordeaux from October 2016 to August 2018, he was then CEO of Construction Navale Bordeaux from September 2018 to October 2020, overseeing the Lagoon, CNB and Excess brands.

Asia's leading yachting lifestyle media

Leaders

Taking The Lead: Giovanna Vitelli of Azimut-Benetti

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Petros Michelidakis on Boot Dusseldorf, Blue Innovation Dock (Pt 2)

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Boot Director Petros Michelidakis on the Blue Innovation Dock

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Paul Blanc on Jeanneau’s new directions

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

TYBA President reflects on second Thailand Charter Week

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Julien Solari: Singapore thriving as a superyacht hub

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

SHARE

“You only live once” by HSBC Global Private Banking

SHARE

Editor's Picks

EDITOR'S PICKS

Grandtech’s Meme Poon: Heading Volvo Penta in Hong Kong

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Aquila Power Catamarans: 10 Years, 10 Questions

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Carmen Lau: Leading Lady

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS

Viva Riva: Celebrating 180 years in style

SHARE

SHARE

Editor's Picks

EDITOR'S PICKS