SuperyachtNews.com - Business - Exclusive: Cantiere Rossini and Rosetti Marino in joint venture

Exclusive: Cantiere Rossini and Rosetti Marino in joint venture

Cantiere Rossini will undertake refits at the latter’s facility…

Cantiere Rossini has announced a joint venture with Rosetti Marino SpA that will see the former conduct refit work at Rosetti’s 180m dry dock in Ravenna, in the Emilia-Romagna province of northern Italy.

Speaking exclusively to SuperyachtNews, as the joint venture was confirmed, Cantiere Rossini CEO, Stewart Pravin said this was the perfect opportunity to expand the refitter’s market scope.

“What we want to create [with the Cantiere Rossini site in Pesaro] is the world’s leading 50-metre-sector refit yard. But, of course, we have our limits. And being a new and ambitious business...we’re doing a joint venture with a company [Rosetti] that is 95 years old, does business all over the world and employs almost a thousand people.

“Because it’s a large company, with multiple divisions, including superyacht building, they want to move into the large yacht refitting market. But because they’re a smart company, they know that superyacht refitting and building are very different trades.”

And that’s where Cantiere Rossini comes in.

Under the terms of the agreement, Cantiere Rossini will have the option to undertake refits within the 180m dry dock at the Rosetti Marino shipyard. The dock has a 27m beam, and draws 6.5m, according to Parvin.

This, as he pointed out, opens up the market to all but the top percentile, in size terms, of the fleet.

“We signed the agreement [on 3rd June]... we’re finding the customers and we will project manage but wherever we can use Rosetti’s skills, we will”, Parvin explained.

Of course, while the specifics of the agreement will remain the preserve of the two companies, it is fair to assume it will follow a form of revenue-sharing model.

“Obviously, we are all commercial people”, Parvin added. “So we can hope to build a strong relationship with them...and they’re not just renting a dry dock out to us. They are a partner in this.”

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ROSETTI SUPERYACHTS (RSY)

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Exclusive: Cantiere Rossini and Rosetti Marino in joint venture

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