On the February 9 the Italian production yard Overmarine announced the sale of the 12th Mangusta 165 E series. This 50m superyacht is becoming one of the more popular yachts in the Mangusta range with three of them under construction.
According to the shipyard, the 165 E range contains the most resent style and technical innovations, featuring the classic Mangusta lines and the signature curved superstructure windows. Although the performance of the propulsion system is similar to previous Mangusta models, consumption on the 165 is considerably lower.
The Overmarine Group Commercial Director comments, “Over the past few years we have established ourselves more and more as a leader in our sector. The reputation we enjoy today also tells us this, the same reputation the Balducci family, sole owner of the Overmarine Group, has been building up over the years. Mangusta 165 has undoubtedly contributed to this result, turning the Mangusta brand into an icon”
Overmarine now has 89 superyachts in it’s 30m plus fleet with a cumulative LOA of 3191m. Since officially entering the superyacht market in 1996 with the delivery of 30.2m Joyride, Overmarine has made at least one delivery every year, which is now a relatively uncommon occurrence in the superyacht market.
Deliveries peaked from 2005 to 2008 for the Italian shipyard with 9 deliveries per annum. However, in the last five years, deliveries have become a little more sporadic, following on from the Global Financial Crisis which hit the market in 2008 and manifests in the delivery figures from 2009 onward. This trend occurred throughout the entire market, effecting shipyards all over the globe, in fact 2010 saw a 24 percent decline in deliveries since 2008.
Nevertheless, Overmarine’s order book is becoming increasingly healthy, now with ten projects on order with a combined LOA of 449.3m. Interestingly, five of the ten orders are scheduled for a 2016 delivery, meaning that 2016 is set to be a strong year for the Italian yacht builder.