25 September 2016

14 May 2014

10 years on and still sealing deals

By

This year signals the 10th anniversary of the launch of Alexseal, the superyacht coatings manufacturer whose life has coincided with the most tumultuous and rapidly evolving period in the history of the superyacht industry.

As a company that has steadily increased its market share in this time, Alexseal’s sales and marketing director, Tripp Nelson is well placed to evaluate the fortunes of the last decade, and he spoke exclusively to SuperyachtNews.com on this topic, as well as the challenges lying ahead for his sector, and the industry as a whole.  

“In 2004 the global superyacht market was thriving and we saw a lot of new builds and refits”, Nelson begins. “As we were going through this period, towards 2008, business was good across all sectors. But then of course, the global recession took place, and I believe the US market felt it around a year and a half earlier than the European market.”

Initially, he says, this presented a challenge for a brand in its infancy because 60 or 70 per cent of the marine customers vanished in a short period of time. For a coatings manufacturer these customers are not just the owners of the hull, but also the manufacturers of the doors, hatches, davits, and everything in between. These niche suppliers were disappearing in the wake of the crisis and everyone felt the ripple effect.

“Where we had the most success during this period was with customers at the lower end of the size spectrum. Yacht owners up to 30m were more open to embracing technological change, whereas superyacht owners required real-time proof, which meant the market took a bit longer to get into.” However, after 10 years, five of the world’s top ten largest yachts are painted with Alexseal, Nelson says.

He attributes this significant market growth to being able to demonstrate the quality and durability of the brand’s unique offering. And this is relevant in an industry-wide context because the superyacht industry is rarely blessed with the working capital to be able to invest substantially in R&D, and yet the coatings sector, operates in direct contrast to this axiom. To put it into perspective 15 percent of Mankiewicz’s workforce is employed in R&D, an enviable figure for other superyacht sub-sectors.

“Our parent company – Mankiewicz – works across numerous sectors where technology must be at the cutting edge. We supply to Airbus, Boeing, BMW, Audi…and in doing so, we are able to incorporate new technologies into our products”, Nelson says. “The base resins of our coatings come from the aerospace industry, and if you think about the forces a plane is exposed to – extreme temperature changes, UV exposure and wind and rain erosion at 600 miles per hour – if our product works there, it will work on a yacht.”



Moving forward amid a tentative industry recovery, Nelson says the perennial focus will remain producing coatings that meet the growing demands of owners. “People always want a better finish and, increasingly, a unique finish. And we have to keep up with that in product development terms, in application process and once it’s on the vessel, in how it is maintained.” This will be pursued in tandem with a continuing education process for applicators and project managers alike, so that Alexseal products are applied and maintained in an optimal manner.

“We’ve enjoyed steady growth throughout the last 10 years and we anticipate that continuing in the future”, Nelson concludes. “I don’t think we’ll ever see the market as it was in 2007 or 2008, but we do see the market coming back and we’re investing in new personnel and facilities to be prepared for that future growth.”

Profile links

Alexseal Yacht Coatings

Comments

Add a comment

1800 character limit

Having problems? Let us know editor@superyachtnews.com

Other Business News

The Superyacht Owner's VIP Lounge Returns to Virage

After an extraordinary turn of events the Superyacht Owner’s VIP lounge returns to its traditional home. Make sure your name is on the guest list More

Inspiration or just PR?

As concepts arrive on our desk in the run up to Monaco, we look at the line between inspiration and PR More

Eight superyacht losses in 2016

Thus far 2016 has seen eight serious incidents that have resulted in the loss of superyachts, nearly five more than the average numbers of yacht fires between 2010 and 2015.  More

When one yacht crew receives €60,000 of prizes...

We delivered €60,000 of prizes to the crew of motoryacht Secret, the winner of The Crew Report's Superyacht Golden Ticket survey. More

business News Archive

Most Recent Comments

  1. SY Kaori comes to the aid of a yacht in distress More
  2. Bureaucracy hits superyachts cruising Italy More
  3. Back to basics More
  4. Cannes increases security as Balearics increase business More
  5. Brokers - Sailors or salesmen...? More
SuperyachtNews app available now. Click here to download.
The Superyacht Intelligence Annual Report is out now. Subscribe today and access your digital copy instantly. Subscribe now.

E-Newsletter

Get regular updates from SuperyachtNews with our weekly Email Newsletter.

Submit

SuperyachtIndex.com

Latest Premium Listings

Cummins Inc.

Cummins Inc.

Nlightened Software Ltd

Nlightened Software Ltd

Cogs 4 Cancer

Cogs 4 Cancer

Zytexx International Ltd

Zytexx International Ltd

Melita Marine Group

Melita Marine Group

Raytheon Anschuetz

Raytheon Anschuetz

Kahlenberg Industries, Inc.

Kahlenberg Industries, Inc.

Directory. Add your logo here with a premium listing.
 
 
 
 
 
 
 
 
 
 

Featured Listings

Navigation, Satellite Communication, Security

Raytheon Anschuetz
Integrated Navigation Systems based on state-of-the-art technology and decades of experience in the superyacht industry. Ultimate knowledge and flexibility in system integration. Dedicated customer care throughout the whole project and beyond.
yacht.raytheon-anschuetz.com

Paint & Protection

Wrede
WREDE Consulting is an independent paint consultant and paint surveyor company who has worked for most of the 200 largest yachts worldwide in coating, paintwork and equipment areas. WREDE Consulting engages in quality management and objective quality assessment for the coating of mega- and superyachts. www.wrede-consulting.com
www.wrede-consulting.com

Tenders & Toys

Superyacht Tenders & Toys
Superyacht Tenders & Toys have a high level of expertise in providing new build and custom tenders, chase boats, RIBs & all popular yacht toys. With an unrivalled global service network, maintaining a personal & bespoke service, wherever you are in the world, Superyacht Tenders & Toys can help.
www.superyachttendersandtoys.com

Satellite Communication

Marlink AS
Marlink offers seasonal, flexible contracts to match regional sailing requirements. Through our dedicated account managers & customer services, we develop personal relationships with customers & drive innovations to develop digital solutions & smart applications that take you beyond just connectivity.
www.marlink.com

Water Treatment & Watermakers

Jets Vacuum AS
Jets Vacuum has for over 30 years been the leading innovator in vacuum sanitation technology. With over 11,000 Jets systems in operation on all types of ships, Jets are known for high quality, flexible cost efficient solutions backed up by first class world wide service
www.jetsgroup.com

Electrics, Environmental Solutions, Propellers & Propulsion, Software, Training

ABB Marine and Ports
ABB is a leading supplier of electrical power and propulsion systems for ships. We provide innovative, safe and environmentally-friendly solutions and qualified services worldwide. Our Azipod® propulsion has proven its efficiency and reliability on yacht vessels with its ultimate silent and ecological solution.
www.abb.com/marine

Shore Power Convertors

ATLAS MARINE SYSTEMS
Atlas Marine Systems, the world leader in the design of marine electrical power systems, offers a full range of engineering services necessary to define the onboard electrical distribution system or simply the application of the Atlas power conversion products.
www.AtlasMarineSystems.com

Engine Room, HVAC & Refrigeration

ASEA POWER SYSTEMS
ASEA POWER SYSTEMS is the Marine Industry Leader for Shore Power Conversion equipment ranging in power from 8kVA - 1000kVa.
www.aseapower.com

Add your company listing here

Add a featured listing here and your advert will appear on every page of SuperyachtNews.com, SuperyachtIndex.com, TheSuperyachtReport.com and TheCrewReport.com.

Add my company listing