The Italian Superyacht Forum: Day Two
Analysis of the second day of the 2011 Italian Superyacht Forum, and the first day of YARE (Yachting After Sales and Refit Exhibition).…
The second day of the Italian Superyacht Forum (ISF) in Viareggio began with a look at the refit business model on what was also the first day of YARE (Yachting After Sales & Refit Exhibition). The panel for the first session included Rocco Finocchiaro, Marketing & Sales Manager at Amico & co., Rory Marshall, a marine coatings consultant, Andrea Pezzini, GM at Floating Life, and Sergio Micheli, President of Navigo. Micheli began by outlining the organisation’s efforts to create a Smart Data Base of Tuscany’s refit services and suppliers that include some 2,900 companies and 15,000 people working in the sector. The question of pricing refit work produced some lively interaction between Finocchiaro and Pezzini, whereas Marshall commented on his experiences working in Italy and especially the recent loss of experienced subcontractors as shipyards are forced to reduce outsourcing and concentrate resources work in-house. “Rebuilding these relationships as the market picks up again will be a challenge,” he commented.
Chairman Martin H. Redmayne emphasised the need for clarity and transparency when it comes to costing refit work, as the current confusion is off-putting for owners, and one way was to segment refit services and pricing according to the size of vessel. He was also confident that although the predicted boom in refitting has largely failed to materialise, it will improve over the next 18 months due to the cyclical nature of the market and the growing number of ageing yachts.
After a break for coffee and refreshments, the audience reconvened for the second and closing session of ISF 2011. The topic of discussion was re-thinking warranty and service, a vital issue considering Italy’s sheer production output that leads the world and an area where it has also fallen short. On the panel were Andy Gifford, General Manager of Telemar Yachting, Marcello Porciani, CEO of Gruppo Nautico Italiano, Maurizio Zini, Director of the IMSSEA Academy that focuses on providing adequate training, and Giorgio Campini, Director of Tecnopool. Andy Gifford, whose specialisation is electronics and communications, pointed out that in his field, warranty work is often easier as it can often be done remotely without actually visiting the yacht via telemetry (monitoring what’s happening on board) and telematics (controlling what’s happening on board). “These methods represent huge savings in terms of cost and manpower,” he explained, adding that they are working with Sperry Marine to develop a remote system for monitoring bridge equipment.
Giorgio Campini drew attention to the fact that the hourly labour rates in the industry have changed little over the past decade or more, but the cost of raw materials has risen and the quality/price ratio has also improved dramatically, putting extra pressure on shipyards’ margins. He also suggested that the region’s yards should work to create a “pool” of trusted subcontractors that share the same infrastructure and services so as to create a more efficient working relationship and safeguard the specialist skills they can provide.
In his summing up of the whole forum, Martin H Redmayne pointed to a number of factors. Firstly, he stressed the fact that the event is designed to “help the Italian yachting industry grow, mature and stabilise” as the world’s most prolific builder of large yachts. He suggested stronger partnerships with subcontractors and suppliers would help to build a stronger industry, while it also had to focus on ways of tempting the growing number of UHNWIs around the world to take up yachting.
On the tax and legal issues, the situation in Italy is clearly ambiguous and will continue to dissuade captains from visiting Italian shores until the situation can be clarified. But perhaps most important was the region’s attitude and he maintained it is vital to enthuse the workforce to take positive pride in the wonderful products they produce. “The purpose of ISF, together with YARE,” he concluded, “is to build a hub around Viareggio that will carry the industry forward.”
The Yacht Report Group would like to thank the sponsors of ISF (James H. Perry, Navigo and Tecnopool). YARE, (for which The Yacht Report Group is Media Partner) continues until April 2.
JR
Related Links
Amico & Co. Profile | Amico & Co. Website
Floating Life Profile | Floating Life Website
Telemar Yachting Profile | Telemar Yachting Website
Gruppo Nautico Italiano Website
IMSSEA Website
Tecnopool Website
Navigo Website
Chairman Martin H. Redmayne emphasised the need for clarity and transparency when it comes to costing refit work, as the current confusion is off-putting for owners, and one way was to segment refit services and pricing according to the size of vessel. He was also confident that although the predicted boom in refitting has largely failed to materialise, it will improve over the next 18 months due to the cyclical nature of the market and the growing number of ageing yachts.
After a break for coffee and refreshments, the audience reconvened for the second and closing session of ISF 2011. The topic of discussion was re-thinking warranty and service, a vital issue considering Italy’s sheer production output that leads the world and an area where it has also fallen short. On the panel were Andy Gifford, General Manager of Telemar Yachting, Marcello Porciani, CEO of Gruppo Nautico Italiano, Maurizio Zini, Director of the IMSSEA Academy that focuses on providing adequate training, and Giorgio Campini, Director of Tecnopool. Andy Gifford, whose specialisation is electronics and communications, pointed out that in his field, warranty work is often easier as it can often be done remotely without actually visiting the yacht via telemetry (monitoring what’s happening on board) and telematics (controlling what’s happening on board). “These methods represent huge savings in terms of cost and manpower,” he explained, adding that they are working with Sperry Marine to develop a remote system for monitoring bridge equipment.
Giorgio Campini drew attention to the fact that the hourly labour rates in the industry have changed little over the past decade or more, but the cost of raw materials has risen and the quality/price ratio has also improved dramatically, putting extra pressure on shipyards’ margins. He also suggested that the region’s yards should work to create a “pool” of trusted subcontractors that share the same infrastructure and services so as to create a more efficient working relationship and safeguard the specialist skills they can provide.
In his summing up of the whole forum, Martin H Redmayne pointed to a number of factors. Firstly, he stressed the fact that the event is designed to “help the Italian yachting industry grow, mature and stabilise” as the world’s most prolific builder of large yachts. He suggested stronger partnerships with subcontractors and suppliers would help to build a stronger industry, while it also had to focus on ways of tempting the growing number of UHNWIs around the world to take up yachting.
On the tax and legal issues, the situation in Italy is clearly ambiguous and will continue to dissuade captains from visiting Italian shores until the situation can be clarified. But perhaps most important was the region’s attitude and he maintained it is vital to enthuse the workforce to take positive pride in the wonderful products they produce. “The purpose of ISF, together with YARE,” he concluded, “is to build a hub around Viareggio that will carry the industry forward.”
The Yacht Report Group would like to thank the sponsors of ISF (James H. Perry, Navigo and Tecnopool). YARE, (for which The Yacht Report Group is Media Partner) continues until April 2.
JR
Related Links
Amico & Co. Profile | Amico & Co. Website
Floating Life Profile | Floating Life Website
Telemar Yachting Profile | Telemar Yachting Website
Gruppo Nautico Italiano Website
IMSSEA Website
Tecnopool Website
Navigo Website
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