There is no shortage of people willing to tell you where the market is heading. Brokers, project managers, owners’ reps, consultants and journalists all have a view, but the perspective that tends to be least heard in public and arguably the one that matters most belongs to the people who actually run the yards. So we asked nine of the market-leading shipyard executives the important questions to get a true understanding of where the market is and where it is heading. Their answers amount to a collective diagnosis and a clear barometer of the current new-build landscape.

The yards represented here span the full competitive range of the European market, from Royal Huisman, Damen Yachting and Feadship in the Netherlands to Palumbo, Sanlorenzo, Azimut Benetti and Ferretti in Italy, from Abeking and Rasmussen in Germany to Bilgin in Türkiye. Of course, they don’t agree on everything, but the convergence on certain themes is inescapably evident.

It is a near-united front on how they build. The past two to three years have brought a genuine step change in how these yards organise and deliver: facility redesigns, digital tools, closer integration between engineering and production and a concerted push to eliminate the late-stage revisions that have historically plagued new builds feature in almost every response. Obviously, skilled labour is the constraint that no investment in facilities can fully resolve. Finding the right people, training, keeping and ensuring the craft knowledge that makes these yachts exceptional is passed to the next generation is the essential thread that runs beneath everything else these leaders say. Supply chains have stabilised but remain brittle for specialist components. And in cost management, the ability to maintain quality without haemorrhaging margin is repeatedly cited as the factor most likely to define who thrives.

Yes, order books are strong, but the nature of what is being ordered has shifted. Owners are more considered, more experience-driven and increasingly motivated by how they spend their time on board. Purpose, sustainability and genuine adventure are genuine design drivers here. And when probed on the future, not one of these leaders talks about explosive growth. What they describe instead is a market that will be defined by the quality of what is delivered, the credibility of the yards delivering it and the ability to remain relevant to a generation of owners whose expectations extend well beyond the vessel itself. 

What follows is an interview by News Editor Conor Feasey with Jan-Bart Verkuyl, the CEO of Feadship Royal Van Lent, and Bas Nederpelt, Commercial Director at De Vries, taken from The Superyacht Report: New Build Focus. Interviews with a further eight shipyard CEOs will be published over the coming days.

Jan-Bart Verkuy l(left) and Bas Nederpelt (right) Images: © Feadship                                                                         

What changes have you made across your yards over the past two or three years that have genuinely helped construction and what has improved as a result?

Jan-Bart Verkuyl:
As always, we are continuously reviewing our building process with a view to look at improving efficiency. We have invested in more craftsman in our yards to have more vertical integration and knowledge we upgraded our internal schools to assist in this.

Bas Nederpelt:
We are more and more implementing new techniques and tools such as 3D-printing, AI and more focus on sustainability and energy saving.

Where is the pressure really building today? What has not worked as well as expected and where do you see the greatest risk to the market?

Jan-Bart Verkuyl:
Pressure is in making the yachts overly complex. Our aim is to listen to the client and give him or her exactly what they are looking for but also guide the client in making the right decisions that will ensure longevity of the product.

Bas Nederpelt:
As shipyards we all suffered from the high inflation and pressure on the supply chain. When committing to new projects it is important to work with realistic forecasts, a solid (preferably own) work-force and supply chain, and feasible projects – all to avoid disappointments during the build and to enjoy the yacht when delivered.

Looking at different specs, designs and size segments, where are you seeing strength in demand, and where are you seeing a softening? What is driving it?

Jan-Bart Verkuyl:
We see inquiries still coming in the entire size range Feadship is building from 40 to 160 metres. If we look at our order portfolio most yachts being built with us are around 80 metres.

Bas Nederpelt:
We see more growth in the larger sizes, mostly full-custom but also for ‘ready to build’ designs that we have on offer. In geopolitically uncertain times, we see a relatively stronger focus on reputable builders and countries.

Finally, on a more personal note, how do you see the market developing over the next decade? Where does the future of the new build sector rise and fall? What does the future look like in reality?

Jan-Bart Verkuyl:
I believe that the yachting lifestyle offers something unique. Being on the water with close friends and family, whatever size [yacht], is one of the best ways to have a really good time together. I believe that as long as we continue to improve our product, reduce the footprint of our yachts and listen to what our clients really want, our product will continue to have desirability.

Bas Nederpelt:
Further to Jan-Bart’s vision we see great opportunities for the best players which are able to adapt to very different world markets, owners varying from late 20s to their 80s by always improving the yachts to make them more attractive and fun, low maintenance, with the lowest possible footprint and with great (resale) value.

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