26 September 2016

11 Aug 2014

Fighting on two fronts at Monaco


“It’s a chance for us to get access to and talk to the people we’ve been talking to in relation to the projects that are ongoing”, says Pendennis’ director of sales and marketing, Toby Allies when speaking to SuperyachtNews.com about the Monaco Yacht Show.

Allies says that a lot of preparation goes into ensuring the company’s time at the show is as effective as possible. As a shipyard the dynamic of the show for Pendennis changes depending on whether the company has a yacht being exhibited. And at the time of writing, it appears that there will not be a Pendennis vessel in attendance. “When Hemisphere was there the whole dynamic changed; you’re then representing the company with products, whereas otherwise you’re [exhibiting] models and the branding of the stand”, he says.

The show comprises one, albeit very important, element of Pendennis’ marketing strategy, with events being staged throughout the year, including May’s Pendennis Cup regatta. “When it comes to the sales process [clients] expect that sort of continuity, from the events and regattas to the sale itself.”

The Pendennis yard is currently the subject of a major development programme.

But for Allies, Monaco represents the start of a show season that the company likes to limit to what it sees as the essential events. It is also, in his eyes, the pinnacle of the exhibition calendar and offers an unrivalled opportunity to discuss refit opportunities with brokers and designers. “There’s a lot of discussion around alterations and upgrades and the show acts as a catalyst for these discussions on what can be done to existing vessels in the fleet.”

“When it comes to new builds, it’s a totally different scenario”, Allies explains, “and in that instance we will be in discussion with designers and customers at the show.” The very different demands of securing new build and refit contracts make the show a very demanding one in terms of client targeting.

Looking towards the 2014 edition, Allies feels the refit market is performing well, buoyed by an improving resale market. “There’s a good number of boats changing hands, and with that comes a good number of refit opportunities. Equally, if you go back 10 or 15 years, it was a period of quite a few launches so there are a lot of yachts coming up to their 10- or 15-year surveys.”

Pendennis-built Nostromo has just left the yard, having returned for a refit.

Allies acknowledges that the new build market is “slower” but he still believes “there are opportunities there”.  In fact, he says the yard is quoting on a number of projects, indicative of the roots of a nascent market recovery, he feels.

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