24 - SPRING 2010
DOWNSIZING
We were just looking through our notes, mainly the releases, the
information received over the last few months in the editorial
offices. Not many compared to what we were used to a couple of seasons
ago, about half at a guess. To us, whose job it is to communicate,
downsizing stands out like a sore thumb, a sad confirmation of what is
happening in the world of superyachts. The tension, the good vibes
that we used to get through press releases about new projects afoot,
the news flashes, the reports on new contracts, companies' financial
growth well into double figures, are all a thing of the past. Now,
taking a broader view at the market and cross-checking the few
reliable information pieces we get with the findings of our
journalists out in the field of marinas and shipyards, as well as
officiating at all the main Boat Show events of the new season, the
fact that the whole sector is downsizing at all levels, is blatantly
obvious. The ships sold, that is the boats over 24 metres in length,
are very few. Sales of the very large boats are a true rarity, those
for the mega ones are quite an exception. In a word, the market seems
to have contracted back to where it was ten, maybe even twenty years
ago in terms of average length of the hulls ordered. As a result,
those who principally produced large and very large yachts, now appear
to be clearly oriented towards cutting back their range length, still
keeping slots open for business but to produce more "humane"
dimensions. The speed aficionados, an expensive passion at sea, also
seem to be downsizing to the tunes of "slow and steady wins the race"
thus spending much less. No surprise then that the semidisplacing
hulls are having the better time right now. More or less vintage
vessels, classics or classic looking, even sporting a round bilged
stern, metal but also composite made, ranging between 30 and 40 metres
in length with which to cruise at night and lull in the bays in the
day, enjoying independence away from bustling harbours for days or
even weeks. Things appear to be considerably better sailing yacht wise
even though the market is still difficult. Owners of these boats also
seem to have the will to go far afield hence the rather lively
interest in the ocean goers, not so slick perhaps but performing boats
nonetheless, undoubtedly solid, high in comfort and low in crew
numbers, however, well over the top in terms of servo-assists and on
board instruments. Finally, also the whimsical tastes of the owners
seem to have taken a setback, in becoming more low key and sober as
less trendy designs and fittings seem now to prevail, flash is out. In
conclusion the downsize phenomenon is across the board, in many ways
there seems to be a return to the past, to a minor kind of superyacht.
It is probably a transitory phase, hopefully a brief one as possible,
but it will no doubt contribute to rebuilding the whole system which
we hope will be a little healthier and more mature.
Fabio Petrone
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