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World Yachting Sustainability Forum at the 63rd Genoa Boat Show

IBI and Confindustria Nautica Host the First World Yachting Sustainability Forum

The first edition of Shaping the Future – World Yachting Sustainability Forum organised by International Boat Industry (IBI) and Confindustria Nautica concluded in Genoa.

Over 100 entrepreneurs from the Italian nautical industry, institutional guests and the international press attended the event.

“The topics covered in this first edition of the World Yachting Sustainability Forum, which we organized in collaboration with IBI, are extremely topical for our sector and in line with the agenda of Confindustria Nautica for the coming years, already dedicated to the strategic issue of digital and green innovation,” said Marina Stella, General Manager of Confindustria Nautica. “In fact, our companies are in the midst of this transition which will make it possible to attract new consumers but also talents and investments.”

The study presented by McKinsey & Company confirmed that the average age of shipowners will see a further reduction. The consumer in the 35-45 age range is very attentive to the issues of technological and sustainable innovation and the nautical sector has already voluntarily carried out a series of actions for some time to obtain a significant reduction in the environmental impact compared to the past. Confindustria Nautica will continue to play a fundamental role in creating awareness among companies in the sector and accompanying them in this transition also through the construction of transversal networks and through discussions within the Sustainability Committee of the Association which actively participates in all the international tables for be able to support these issues.

Stefano Pagani Isnardi, Confindustria Nautica Research Office Director, said: “The nautical industry, despite being a sector with minimal environmental impact, has been investing heavily and for a long time in technological innovation and is now entering the real transition phase towards new sustainability objectives, with a time horizon which ideally is set at 2035. Certainly for the nautical sector it is necessary to examine and study different technological solutions, which are suitable for the multiple market segments and for the various types of use of pleasure boats. The role of an Association like ours is therefore to guarantee our companies the possibility of operating in research and development in every direction, in the best regulatory and bureaucratic conditions, not only at a national level.

“Without a doubt this is the most important challenge and perhaps the greatest opportunity facing the yachting industry in recent times,” added Ed Slack, managing editor of IBI – International Boat Industry, who defined the path of the marine industry towards the goal of carbon neutrality, at the opening of the conference.

The President of Confindustria Nautica, Saverio Cecchi, opened the conference by illustrating the pioneering role that the Italian pleasure boating industry is playing in responding to future challenges and managing new opportunities. His words were followed by those of the Mayor of Genoa, Marco Bucci, who underlined the role that the city has assumed in supporting boating and its mission to make Genoa the "capital of yachting in the Mediterranean."

Ed Slack then welcomed McKinsey & Company to the stage, who gave the first of two sustainability-focused presentations. McKinsey partners, Troy Baltic and Erik Dellborg, outlined the outlook for the yachting industry and offered input on how various industry players could be positioned to meet future challenges.

"Sustainability and the creation of value coexist as a goal," Baltic told the audience, describing the situation of companies that often find themselves operating both in "attack", to grow, and in "defense", to be protected also from the point of view of future legislation.

Erik Dellborg then underlined what could be the economic advantages to be obtained, even in the short term, in the commitment to de-carbonise the supply chain. By sourcing more sustainable products, the industry could “tilt the balance,” Dellborg said, while working on propulsion system changes that take longer to have an impact.

Opening the first panel discussion, Ed Slack introduced guest speakers: Jeff Wasil (NMMA Director of Environment, Health & Safety Compliance); Nicola Pomi (Director Yacht and Superyacht division, Volvo Penta); Michele Francioni (Vice President, MSC Cruises); together with McKinsey's Troy Baltic and Erik Dellborg to discuss the most important challenges facing the industry. In short, it emerged that the nautical industry must continue to value and share its successes already achieved in the process towards decarbonisation.

All speakers agreed on the need for a collective approach from the marine industry, highlighting that there is no single solution to de-carbonise the sector. The key is represented by a summation of results, building efficiency and adopting different propulsion systems depending on the sector.

Michael Harney of McKinsey & Company then presented the customer profile of the future to the audience, outlining the potential strategies aligned with the profile of the new generation of yachtsmen, their values and therefore their propensity to purchase which is very different from that of the past.

IBI Director Ed Slack said ongoing discussions and discussions have been essential in shaping industry responses to the sustainability challenge, but action remains critical. Harney then closed his presentation by indicating an action plan, in which the development of a detailed vision of the future customer and the definition of operational changes become necessary to correctly position a brand on today's market and thus respond to the needs of a new generation of younger consumers – with Generation Z who will surpass the Millennials in 2036 – for which sustainability and digitisation are of fundamental importance.

Harney was then joined on stage by Eugenio Blasetti , Head of Media Relations at Mercedes Italy; Carlo Iacovini, General Manager of the electric motorcycle manufacturer Energica; Nicola Pomi of Volvo Penta and Stefano Pagani Isnardi, Director of the Research Office of Confindustria Nautica, to talk about the different opportunities for the sector that will derive in the future from the transfer of wealth of about 18 trillion dollars by 2030 by the baby generation boom.

In short, the industry needs to take a collective approach: collaborate where possible, evolve, and resist the urge to look for quick fixes. “We have to be pragmatic,” Wasil said. The marine industry is in a privileged position to learn from other sectors that are further along the path of de-carbonisation by sharing the awareness that the time is ripe: markets are transforming and it is a strategic moment for the industry to invest with the aim of reaching the consumer of tomorrow.

This edition of the World Yachting Sustainability Forum is only the first. Debate and confrontation are key to determining the direction of travel, but a plan of action is key,” Ed Slack summed up in conclusion. “The information we have gathered is very useful: the marine industry is making progress. It goes without saying that we can and must do more. Forums like this are essential to encourage a collective approach: no reality can achieve its goals independently. Industry must work together to convince governments, legislators and consumers that they have the skills, tools and will to govern the transition. See you in September for the 63rd Genoa International Boat Show.”

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The Italian Marine Industry is a non-profit organisation that has represented the yachting industry and businesses since 1967, promoting marine culture, developing boating tourism throughout Italy and driving the yachting sector as a whole.

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22 September 2023

AN INTERNATIONAL ROUND TABLE TO TAKE STOCK OF THE CHALLENGES THE YACHTING INDUSTRY IS FACING IN ADOPTING INCREASINGLY SUSTAINABLE STRATEGIES

A few months after its first edition, the second World Yachting Sustainability Forum , organised by IBI (International Boat Industry) for the Italian Marine Industry Association, took place today at the 63 rd International Boat Show in Genoa.

The topic of Carbon Neutrality is as strongly felt in the yachting sector as in any other and despite the fact that yachting, according to official IMO (International Maritime Organisation) data, accounts for only 0.06% of emissions, it is no longer time to look the other way. This is a major challenge and perhaps the greatest opportunity that the yachting industry has faced in recent times. Italian companies are in the midst of a transition that will attract new consumers but also new talent and investments.

“ The Genoa Boat Show is not only a leading international event for the boating industry, but also an important opportunity for entrepreneurs and industry operators, institutions, and the press to meet ,” commented Andrea Razeto , Vice-President of the Italian Marine Industry Association , introducing this second edition of the World Yachting Sustainability Forum . “ As we communicated yesterday at the Boating Economic Forecast conference, the Italian yachting industry is a sector that is constantly growing (+20% turnover in 2022, touching the record level of €7.33 billion) with a remarkable propensity for innovation and exports, of which Italy is a world leader, with over €3.7 billion in exports of boats and yachts. Our companies have realised how crucial it is to adopt increasingly sustainable strategies and readjust business models, in order to respond concretely to the challenges of the future and to new ever-looming regulations, treading new paths and making the most of new opportunities. The topic of sustainability is therefore now recognised as a must in the industry, both in Italy and abroad” .

The conference, moderated by Ed Slack , editor-in-chief of IBI magazine, gathered a large audience of industry operators and was attended by international stakeholders and journalists to resume the dialogue first initiated last June at the Satec Convention held by the Italian Marine Industry Association and discuss strategic issues, including the path towards decarbonisation, proper development of the infrastructures needed by the sector, and the ideal application of new technologies, now increasingly available.

Patrick Hemp , Technical Consultant at ICOMIA (the International Council of Marine Industry Associations), an association that brings together the world’s national marine federations, was called on stage to start the proceedings. He illustrated the results of an initial analysis of the pros and cons concerning alternative fuels and propulsion systems for the yachting sector. ICOMIA commissioned an in-depth analysis from Ricardo, a consultancy with expertise in low carbon technologies that provides innovative and cross-sector sustainable solutions, to identify the propulsion technologies best suited to decarbonise the yachting sector. The study provides useful information for the industry to take joint action in view of 2035 and ultimately towards the EU Green Deal of 2050. “ As an industry we spend a lot of time talking about greenhouse gases, emissions, raw materials, production and use. In the coming years there will be innovations and improvements in current propulsion technologies. If we only look at electric we cannot expect it to offer the same range to a boat as traditional propulsion systems; consumer behaviour is crucial. In yachting it is also a good solution to share ownership. And extending the life of boats: with new batteries, which have a lifespan of around 30-40 years, boats become almost new. Recycling is key.” Patrick Hemp also explained how future regulations will bring changes to the industry. “On the regulatory framework, the situation is somewhat complex. In Brussels it takes six years to introduce new directives, but once implemented they will bring major technological revolutions. “

Ed Slack then called to the stage Michele Bolpagni (Aqua Superpower), Jochen Czabke (Seaman Consultants) and Tommaso Negri (PlenitudeBeCharge), who discussed the topic of electric mobility and related infrastructure. “ All over the world, but especially in France, electric is doing very well, ” stated Michele Bolpagni , Country Manager, Italy Aqua Superpower. “In Italy, on the other hand, we are still a bit behind, despite the large potential.”

A collaborative approach is needed to create a sustainable infrastructure. “ It is important to install recharging stations in both the automotive and marine sectors ,’ said Tommaso Negri , Business Development Specialist Plenitude BeCharge. “ We are active in Europe with 1,700 charging points. We have not installed recharging stations specifically for the yachting sector, but we are also interested in developing the recreational sector; with equal recharging points for both industries “. Pointing the finger at the unevenness of the infrastructure was Jochen Czabke : “ There are challenges that need to be undertaken such as standardising the charging sockets” . Further points emerged: the use of the marina, which today is more a ‘parking area’ for boats than a place of usable services, and users who have to learn how to handle boats with alternative propulsion and new services. “ I hope that in 2023/24 there will be a growing trend, and that we will close the gap in a short time. One certainty we have is that we will still have to wait two to five years before we will be able see real electrification of both nautical and automotive mobility .”

A second panel discussion was devoted to ‘ How can the industry successfully align with new technologies ‘. Ed Slack spoke about this subject, joined by Giuseppe Sanchero (Siemens- Energy), Paolo Izzo (Lloyds Register), and Vasilis Gregoriou (Advent) to discuss effective solutions and assess the pros and cons of methanol/hydrogen fuel, with all the limitations and potential of the latest technologies and how yards and infrastructures need to adapt. “ The real challenge is reliability in fuel management, and there are also electrification projects in the large yacht sector ,” commented Giuseppe Sachero VP Industrial Solution Southwest Europe Siemens – Energy. In the world of superyachts there is a growing demand for methanol and hydrogen solutions as viable alternatives. The focus on sustainability is catching the eye of ship owners who “ are asking us for a greener approach ,” emphasised Paolo Izzo , Business Development Manager Llyod Register, who added, “ There are investors willing to invest in infrastructure. In Italy there is still no legislation or guidelines for hydrogen and methanol “. Markos Vasilikos , Director Adventà Markos Vasilikos, also intervened, explaining the importance of solving the problems related to battery weight that can affect the performance of boats with planing hulls.

Lastly, Piercarlo Smith , Director Deloitte Climate & Sustainability, gave an account of how a country like Saudi Arabia is rapidly changing and paying more and more attention to sustainability. At the end of the round table, what emerged was how truly important it is to team up when tackling such matters and how common dialogue will lead to fruitful results. Aligning sites is important and comparing results will be crucial for charting an effective and correct course towards true decarbonisation.

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GENOA INTERNATIONAL BOAT SHOW BRINGS BACK THE ICONIC SPORTS ARENA

Global yachting market sees +11% growth reaching 33 billion euros

DURING THE SATEC CONVENTION FOR COMPANIES REPREESNTING THE ENTIRE YACHTING SUPPLY CHAIN, CONFINDUSTRIA NAUTICA LAUNCHES ITS PROPOSALS FOR THE BLUE ECONOMY

THE WINNERS OF THE 33rd EDITION OF THE BOATING PIONEER AWARDS

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How close are we to a sustainable future in yachting?

Last week the American Bureau of Shipping (ABS) held its inaugural Superyachts Forum at the Yacht Club de Monaco, bringing together leaders and experts to explore how the latest innovations and trends are shaping the future of the yachting industry.

The theme of the event was sustainability and the topics discussed included the latest developments in the market, technological advancements, new regulations, eco-conscious yacht designs and alternative fuels.

Rene Laursen, director of sustainability at ABS, ran through the latest advancements in alternative fuels, while Riccardo Repetto, global segment manager of ABB, explained how electrification has a place in the yachting tool kit. Torben Mørch Sørensen, marine sales director of Blue World Technology, revealed what’s around the corner for fuel cell technology, and Pierpaolo Da Fieno, managing director of MAN Energy Solutions, unveiled the future of methanol engines for yachts.

The day concluded with a panel discussion on the future of sustainable yachting. Panellists included Xavier Perrone, commercial manager of Hill Robinson Group Ltd, Andrea Castagno, project coordination department director at Sanlorenzo, Riccardo Repetto, global segment manager at ABB, Marc Verburg, director of yacht operations at Maritime Administration of the Marshall Islands, and Stamatis Fradelos, vice president of regulatory affairs at ABS.

To accelerate a sustainable future, the group agreed that spreading the message from the ground up was vital and even if an owner is not interested in sustainability, they are interested in saving money. “It’s definitely down to us to recommend more sustainable vessels or sustainable measures that could actually reduce the energy consumption,” agreed Xavier Perrone. “[Hill Robinson] has over 25 years’ experience in yacht operation. And that's where we can help the owners make significant savings by educating the crew and suggesting more realistic ways for energy saving, such as better heat recovery systems.”

Andrea Castagno revealed that Sanlorenzo is concentrating its efforts on reducing hotel load, with the imminent launch of its new hydrogen-fuelled 50-metre motor yacht 50Steel. The vessel will generate electricity for onboard hotel services to improve the yacht's eco-footprint while at anchor by around 90 per cent - a significant saving when yachts are stationary for large lengths of time.

Collaboration and knowledge sharing are vital in advancing technology at rapid speed - Vitters’ “zero fossil fuel" sailing yacht Project 3094 (better known as Project Zero) and its open-source approach were held up as a shining example, along with the cruise liner industry who are known for collaboration. “When it comes to yachting, we can be a bit isolationist,” admitted ABB's Riccardo Repetto. Daniele Bottino, ABS' regional business development Europe, concurred, adding: “We need to learn from commercial shipping, especially now, because it is so complex and so expensive to make any decisions. They have the financial muscles to press ahead with exploring new technology.”

Everyone agreed that regulation is an important catalyst for the sustainable transition. If you have shipbuilders offering more traditional propulsion solutions against more expensive new technology, change won’t happen at the speed it is needed. “But we need standardisation, not to constrain, but to harmonise the competition and encourage the solutions,” countered Xavier Perrone.

Voluntary indexes such as the SEA Index Phase III, the Water Revolution Foundation’s Yacht Environmental Transparency Index (YETI) and Blue ESG are all trying to make a difference and fill the gap, but there was some agreement that the landscape is confusing and the spotlight should be on the IMO to give a clearer direction.

For a unified approach, lots of fingers are pointed towards class and flag, admitted Marc Verburg. “[When it comes to Flag], the industry very often thinks we are the regulators, we are making the regulations, that's not entirely true, we are also held up by the IMO.” He believes that the IMO is not ready for the yachting industry and the fast growth of technology the industry is currently seeing.

Recently, new rules have come into force that oblige ships to measure energy efficiency and carbon emissions in the form of the Energy Efficiency Existing Ship Index (EEXI/EEDI) and the carbon intensity indicator (CII) ratings. These are currently only applicable to vessels over 5000 GT, but both Verburg and Stamatis Fradelos see this regulation being applied in some form to yachts in a few years. “I believe that in future, we are going to see more ship types and smaller ships fall into this regulatory framework and be regulated in terms of their emissions,” confirmed Fradelos.

There is a lot at stake - not just for the sake of the planet, but for yachting as a whole. Public perception that yachts are big polluters means that the industry is increasingly in the spotlight - the more it can become greener, the more new owners it can attract and the more it can grow as an industry.

But will yachting ever be truly green? “I don't think it will be 100%,” concluded Marc Verburg. “But I think it will make major steps, because, technically, the industry is working hard on this…. But it is slow work.”

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Yachting Sustainability Forum by Yachting International Radio

Virtual Forum, Florida August 28 - 29, 2024

On August 28-29, 2024, The International SeaKeepers Society's Program Development Manager, Aubri Keith, and Board Member, Norma Trease, participated in Yachting International Radio's first-ever sustainability forum specifically designed for yacht crews. The conference covered topics such as Marine Life Protection and Conservation, Sustainability Fundamentals, Implementing Sustainable Practices Onboard, Marine Conservation Organizations, Beach Cleanups, Industry Updates on Marine Sustainability, Sustainable and Eco-friendly Clothing, and Eco-friendly Cleaning Products for Yachts.

SeaKeepers was honored to contribute to this crucial conversation on sustainability in yachting and took the opportunity to share information on our programs and how yachts can get involved in supporting marine science. If you are interested in learning more about this forum, you can watch the replays by clicking the links below:

Day 1: https://www.youtube.com/watch?v=t4HirekhctE Day 2: https://www.youtube.com/watch?v=SA_3FRbGQs4

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Why the yachts of the future are already here

Rupert Holmes
August 18, 2023

The biggest transformation of boatbuilding in our lifetime is under way, with the drive to eliminate carbon emissions and use composites that can be recycled into a new boat. Rupert Holmes visits those yards spearheading the change

Imagine a future where you could buy a standard production yacht which is built not from virgin fibres, toxic resin, and fitted with teak or plastic decks, nor propelled by a noisy engine fuelled by noxious heavy oil, but instead one crafted from natural products, which runs silently, emission-free and with very little carbon footprint. And where, at the end of the yacht’s life, you could trade it back in with the builders so they could separate the fibres from the resin and recycle it into a new boat.

That future is here and now in 2023. Thanks to years of research and development from some of the largest yards, your yacht of tomorrow is already available today – you maybe just didn’t realise it.

Whether crossing the Atlantic , or enjoying a sunny afternoon in local waters, the sense that sailing is an activity that takes us closer to nature is a strong one. Yet the vessels that provide this experience are the product of a sizeable polluting industry. Fortunately that situation is now changing quickly and two of the world’s largest boatbuilders are already making big steps towards producing more sustainable yachts.

At the same time, some of these changes will make yachts cleaner and quieter, with the potential for longer periods of autonomy when cruising long distances. A step-change was already in evidence at last year’s International Multihull Show, where a number of new catamarans sported solar arrays with outputs of several kilowatts – enough to feed almost all the hotel loads of these power-hungry vessels (enough to run a modest house in fact), with the exception of air conditioning and hot water.

However, this is just a first – and easily achieved – step in a rapidly evolving transformation. During that edition of the show Fountaine-Pajot announced its Odysséa24 strategic plan, which the firm has deployed for all its brands to become carbon neutral by 2030.

The first stage was informed by an independent study that shows the overwhelming majority – 80% – of the yard’s carbon emissions stem not from manufacturing processes, but from the use of its yachts during the first 20 years of their life.

Sun Fast 30s and Mini 650s in production at Groupe Beneteau’s Cheviré facility.

Just a few months later Groupe Beneteau announced its own plan to move to building its entire range from new more sustainable materials by 2030. This includes resins that can be recycled into a new yacht, achieving the holy grail of a circular economy. Electric propulsion – with range extending generators where appropriate – will also increasingly be offered as an option.

These are grand plans and the marine industry has a long history of grandiose ideas that are quickly sidelined or evolve only painstakingly slowly.

However, despite their huge sizes (annual turnover of €1.5 billion for Groupe Beneteau and €230 million for Fountaine-Pajot) these are still family-owned companies with a passion for change that comes right from the top and planning horizons that are far longer than those of some publicly listed or private equity-owned firms.

From talk to action

At the International Multihull Show, Claire Fountaine, president of the Fountaine Pajot and Dufour group, told us it was time for action: “In order for future generations to sail while preserving the planet, we have the ambition of becoming the leader of the ecological transition in our industry. This is the aim of our Odysséa24 plan.”

Scroll forward 12 months and we’re already seeing the fruits of this mission leaving the La Rochelle yard – more on that later. Equally, Groupe Beneteau already has yachts in series production using a modified version of Arkema’s Elium thermoplastic resin that can be recovered at the end of a yacht’s life and used to build another vessel.

Its Cheviré factory, opposite one of Airbus’s Nantes facilities and a stone’s throw from the river Loire, has an illustrious history. It was originally Jeanneau’s Advanced Technologies division, where the top three finishers in the 1990 Route du Rhum , including Florence Arthaud’s Pierre 1er and Philippe Poupon’s Fleury Michon, were built. More recently, the new Figaro 3 fleet was produced here.

Beneteau Oceanis 30

Today, Beneteau describes it as a laboratory for developing sustainable boatbuilding solutions. But in reality it’s more than that – a production boatbuilding plant capable of churning out 50-plus boats a year, while simultaneously running several side projects.

When I visited in May, three Mini 650s built using 6% flax fibre were in production. They’d also just popped the first Elium-built Sun Fast 30 out of the mould and were preparing to infuse the second. This boat is the outcome of a design competition organised by RORC, the UNCL in France and Storm Trysail Club in the USA. It was won by a collaboration between naval architects VPLP and advanced composites specialist Multiplast. So how did Jeanneau end up building the boat?

“We already had a partnership with Multiplast, who built the foils for the Figaro 3,” says Groupe Beneteau sailboat product director Damien Jacob. “They usually only do one-off projects, but we had an existing relationship that fitted this boat perfectly.”

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However, the original concept for the boat envisaged using conventional resins, so VPLP had to revisit the structural engineering to integrate Elium into the design. A key advantage of this material for boatbuilding is that it has very similar mechanical properties to conventional polyester resins. Nevertheless, it was important to validate the figures – a process that’s central to Beneteau’s vision for the changes it plans to implement across the board over the next few years. Instead of the risk of a sudden wholesale change, the yard is taking many small steps and learning from each one.

The building of one of the two Beneteau First 44 prototypes – a boat that also has twin electric motors, plus a diesel range extender generator – last year marked the first stage of the Elium project. The idea was it would enable a better understanding of the material, right down to the details of how to drill it efficiently, glue it and so on, to enable it to be integrated seamlessly into a production line.

The exquisite Flax 27 daysailer from Greenboats showcases what can be done with sustainable materials

Recyclable production yacht

Beneteau has a long-standing group of production experts with huge experience working with different materials, laminating techniques and problem solving. “These are really talented people who built the First 44e, and are already able to teach others how to use Elium,” says Groupe Beneteau research and innovation director Erwan Faoucher, who is also president of APER, the national boat dismantling scheme in France.

Unlike conventional resins, whether epoxy or polyester, Elium is a three-part resin system in which all the elements must be combined in precise quantities. Developed by Arkema, a multinational manufacturer of specialty materials headquartered near Paris, it’s the world’s first liquid thermoplastic resin that will cure at room temperature.

These properties make it feasible for use in boatbuilding, yet, as it’s a thermoplastic, at the end of a boat’s life it can be melted and recovered for use in a new boat, with the alcohol content providing much of the fuel needed to power the process. That’s hugely different to conventional polyester and epoxy resins, which are a thermoset type in which cross-bonding of the polymers makes it impossible to melt and recover for reuse.

Groupe Beneteau has an exclusive five year license on a formulation developed in a three-year collaboration with Arkema to optimise a version of the resin for production boatbuilding.

The three elements are automatically mixed by machine, ready for infusion, making it relatively simple to integrate into the production line. Equally, cure times are comparable to conventional polyester resins, so production schedules don’t need major adaptation.

A Flax 27 in build

These factors, along with its similar mechanical properties, make its use a relatively easy transition from polyester. However there is a 15% cost penalty on the price of a new boat, one that is expected to reduce to 10% as volumes increase (we understand Groupe Beneteau want to make these materials standard rather than a costly option). Also, the optimum method of how to separate the resin from the fibre at end of life, be it through using heat or solvents, is still being researched.

In addition to being a circular economy material – one that can be recovered when a boat is scrapped and then used to build another yacht – the Elium used by Beneteau already includes 18% recycled methacrylate – a core ingredient – and therefore has a carbon footprint around 15% lower than conventional polyester resins. Looking ahead, once fully recycled Elium can be used, carbon emissions are expected to be two or three times lower than polyester, a figure Faoucher says “will be very hard for any other material to beat.” It’s worth noting that epoxies tend to have a carbon footprint two or three times larger than that of conventional polyester resin.

Nevertheless, Beneteau is not betting its future solely on Elium. The small fibreglass parts such as locker lids, bathing platforms and so on for its nine brands are made in a single facility that produces a colossal 30,000 items a year. These now all include some flax fibres and are currently made using polyester resin with around 15% bio resin content.

This figure represents the amount of alcohol in conventional polyester resin and was therefore a fairly easy substitution as a first step. The next stage is to replace other components to reach 34% bio content. Faoucher says the maximum figure technically achievable is 40% as the styrene that makes up a large proportion of polyester resin can’t be replaced with bio sourced materials.

Flax fibres used by Greenboat

He also points out that determining the optimal amount of flax fibre to use is not as simple as it might appear, hence the 6% flax content in the Mini 650s. The problem, he says, is that natural fibres absorb more resin than artificial ones, which results in a heavier boat that may consume more CO2 for propulsion and so on over its lifespan.

Recyclable Dufour

Following Fountaine Pajot’s extensive development of electric and hydrogen power, the Dufour side of the group is turning to materials development. The project, dubbed ‘Licorne’ (unicorn) is due to be unveiled later this year. The plan is to use recycled materials to build a Dufour 41 prototype, fast-track sail it for around three years, before disassembling it to build another yacht and so prove its circular concept.

Deputy CEO Romain Motteau is enthused by the project, and says the unique element is the Arkema resin they want to use is already formed of recycled material. His vision is to build a fleet of boats which are rented from Dufour and, at the end of their lifetime, come back to be recycled into new boats, rather than the current model of building hundreds of yachts a year and selling them to new owners: ‘that is the future’.

Ongoing R&D

Groupe Beneteau and FP/Dufour are not the only outfits seeking to create sustainable boat production and there are many smaller scale operators who have quietly been churning out low carbon or recyclable yachts in timber epoxy or aluminium for many years – but these solutions can’t yet be scaled up to industrial proportions.

Nevertheless one notable young company is focussed on developing new boatbuilding methods that can be scaled – Germany’s Greenboats. Founders Friedrich Deimann and Paul Schirmer gained much attention with the exquisite Flax 27 daysailer, which is a fantastic showcase of what can be achieved with natural fibres and bio-sourced resins.

Greenboats’ MB9 is a 30ft offshore racer made of flax fibres and bio resins

This was not initially intended as a series production vessel, but from the outset the founders’ vision extended much further. The company has put significant energy into developing sustainable boatbuilding materials, including consulting for more established yards, and has firmly been at the forefront of this revolution.

Examples include work with 11th Hour Racing to produce parts such as hatches for its IMOCA 60 Malama that have the same strength, structural characteristics and weight as the previous carbon hatches that were more or less a standard IMOCA item.

It has taken more than a decade, plus a lot of research and experimentation, for Greenboats to reach this level of expertise.

“Most production with flax fibres today is quite crude and they don’t play to the magic of the composite,” Deimann explains.

With detailed structural engineering, even for small parts, plus optimal fibre orientation and location, it’s possible to achieve the same weight, and in some cases less, than using conventional materials. Their latest project, for instance, a 30ft short-handed racer/cruiser built for Matthias Bröker, a naval architect at Judel/Vrolijk who worked on the Dehler 30 , will be lighter than the Dehler.

What happens at the end of life for the boats they build? “There are two possible approaches,” says Deimann. “You can use low-impact, low carbon biological based materials like flax and bio resins, or recyclable resin systems.” Greenboats has tried both and at the moment believes the former is currently the best option, especially as the infrastructure that would be needed for recycling is a long way off.

Instead they have successfully trialled making granules from a laminate made using natural materials. These were then used to help power the furnace of a steel making plant in a way that’s not possible with conventional materials.

FP’s Aura 51 uses the Smart Electric concept to vastly reduce fossil fuel energy consumption and increase autonomy

The power struggle

Given Fountaine Pajot’s realisation that the overwhelming bulk of carbon emissions occur not in manufacture, but when the boat is in use (especially under engine power), the materials used for building boats are by no means the only changes the industry needs to make.

Electric propulsion has been established as the default for new daysailer designs for most of the last decade and is now rapidly making inroads in the market for larger craft. Many of these will initially also be fitted with ultra-efficient diesel range extender generators, though the hope among many is that green hydrogen will become available sufficiently widely to replace the generator with a hydrogen fuel cell in the not too distant future.

Fountaine Pajot has already launched a prototype version of its Samana 59 that’s entirely powered by non-fossil fuels, including a 6kW solar array and a powerful 70kW REXH2 hydrogen powered fuel cell. This boat was developed in conjunction with EODev, an industrial extension of the Energy Observer project – a 90ft racing catamaran that enjoyed an illustrious career before being converted to run on hydrogen power and has since completed 50,000 hours of use.

Torqeedo and WhisperPower developed an ultra-efficient range extender generator to maximise the power from a given amount of diesel

In France enthusiasm for hydrogen power is growing rapidly, including a massive 34 hectare hydrogen farm in development at St Nazaire at the mouth of the Loire, rapidly growing numbers of hydrogen fuelling stations for public transport (the two largest towns in the Vendée – La Roche sur Yon and Les Sables d’Olonne – for instance both have them) and double the number for private cars as the UK.

Nevertheless, Fountaine-Pajot remains cautious about the realities of how quickly this technology can be rolled out in the marine industry. It’s not about the intrinsic reliability of the system, as Phil Sharp, another hydrogen advocate who’s also based in La Rochelle, is seeking to demonstrate in the next Vendée Globe race . The problem for long-distance cruising yachts is one of availability within a sensible time frame: “European funding is needed to make it happen,” according to communications director Hélène de Fontainieu.

Instead, Fountaine Pajot’s immediate focus is on what it calls Smart Electric – electric propulsion backed up by a diesel generator, plus efficient regeneration from the electric motors while sailing, large solar arrays and wind power. An intelligent onboard energy management system is also a key element and ensures optimal use of power and charging.

“Many boats have two or three internal combustion motors,” deputy CEO and Smart Electric/hydrogen project manager Matthieu Fountaine told me. “In a well engineered system if they are replaced with electric propulsion motors, plus a diesel generator, we can reduce the fuel needed for propulsion by 15-20%.”

Fountaine Pajot’s Samana 59 is powered entirely by non-fossil fuels

Smart Electric is available for all FP brands, including Dufour monohulls. Several examples are already afloat and a further 50 are scheduled for build next year.

Early buyers have come from across the globe and are often people who see themselves as pioneers. Yet this concept has potential to become mainstream very quickly – last year hybrid and fully electric cars accounted for almost 50% of the UK market, so many boat buyers have already experienced electric propulsion.

Pioneering work by yards such as Arcona, Salona and Outremer, as well as cruisers such as YouTubers Dan Deckert and Kika Mevs ( @SailingUma ), who took their electric powered 50-year-old Pearson 36 to Svalbard and Iceland last summer, has also helped to showcase what’s possible and refine the new products that are needed.

The charter market is also important to Fountaine Pajot, so how well has the concept been received in the more hard-headed business world? Two large operators – Tradewinds and Dream Yacht Charter – have already embraced the Smart Electric concept, with the latter ordering 40 boats for delivery over the next two years.

Electric motor range

Using electric propulsion opens a door to a completely different way of thinking to the diesel engines we’re accustomed to using. However, a challenge for many boatbuilders is they have to convey very different messages for different types of boat. Many diesel powered yachts carry so much fuel that consumption is never a worry. However, the further you voyage the greater the chances that you’ll opt to throttle back to extend range.

It’s incredibly easy to underestimate the dramatic benefit this has on energy use. Wave making resistance increases exponentially above 1x the square root of the effective waterline length (in feet). Therefore it takes three times more energy to push a boat with a 36ft (10.9m) waterline at 8 knots than at 6 knots.

Further efficiencies can be gained by throttling back further. Most of the time only a small proportion of the potential power is being used, but more is on tap for manoeuvring and for punching head seas for short periods, such as leaving harbour or rounding choppy headlands.

Motorsailing with electric power is also very different to doing so with a diesel engine and is an absolute revelation. Unlike a diesel, electric motors can give just a small extra push – if this simultaneously helps increase apparent wind, the speed boost might be obtained using only 10% of the motor’s output, giving a silent motor sailing range hugely greater than a quick scan of system specifications might suggest.

Drop in the ocean?

Yet this is all a far cry from what visitors to the massive space devoted to motoryachts at this year’s Düsseldorf boat show will have seen. Among the many craft on display, a large number of fast, yet heavy, boats powered by colossal engines – including multiple units of recently developed 10-cylinder 350hp and 450hp outboard motors – showed not even the slightest nod towards addressing the impending climate crisis or over use of plastics.

Groupe Beneteau – larger than the next half dozen yards combined – clearly believes this old approach isn’t viable in the long term. It has firmly staked its future in a sustainable direction, to the point of selling its three-decade-old €300 million mobile home business to help fund the transition towards sustainable boatbuilding. Many others are surely set to follow them and Fountaine Pajot, along with the many smaller yards that did much of the early pioneering work in moving towards more sustainable practices.

Deimann cautions there is still a long way to go and is concerned the industry as a whole is still generally operating on an old linear economy model, not a circular one. That’s a change that requires a whole new way of thinking, but a change that – as of now – is at least under way.

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Looking back at the First Yachting Sustainability Forum: A Decisive Step Towards Eco-Responsible Yachting

Camille Lopez, founder of HY-Plug, had the privilege of participating in the first Yachting Sustainability Forum this week, an event dedicated to sustainability in the yachting sector. Here is a look at this enriching day and the discussions that marked this flagship event.

A Unique Opportunity to Share and Learn

The Yachting Sustainability Forum brought together experts and thought leaders to explore sustainable practices in the yachting industry. As a participant, Camille Lopez had the opportunity to exchange ideas with prominent speakers and share perspectives on how HY-Plug is contributing to a more sustainable future for yachting.

Topics Covered

The sessions covered a variety of themes crucial to maritime sustainability:

Sustainability Basics : Understanding the foundations for more environmentally friendly sailing.

Marine Sustainability Updates : Discover the latest advances in the field.

Sustainable Practices on Board : Practical advice for integrating ecological solutions into yacht management.

Marine Life Protection : Strategies to preserve marine ecosystems.

Eco-Friendly Cleaning Products : Sustainable Alternatives for Ship Maintenance.

Sustainable Clothing : Options for a more eco-responsible lifestyle.

Marine Conservation Organizations : Partnerships and initiatives to protect our coasts.

Renowned Speakers

The forum hosted an impressive panel of experts, including Robert van Tol of the Water Revolution Foundation, Tamara Ellis of REV Ocean, Lauren Wardley of Ethical Yacht Wear, and many more. Camille Lopez was honored to share her perspectives alongside these influential figures and contribute to the discussions on sustainability in yachting.

An Exemplary Organization

The event was brilliantly orchestrated by Norma Trease , Janet Xanthopoulos , Andrea Tagliaferro , and Hugo Luis Ortega Jr. , with strategic support from Andrea Tagliaferro and Rhea Rouw . The forum, sponsored by OCEANR, was a vital platform for exchanging ideas and promoting sustainable practices.

A Call to Action

The Yachting Sustainability Forum was an inspiring and a highlight for all participants. Camille Lopez and HY-Plug remain committed to continuing sustainability innovation and supporting the transition to more sustainable yachting. This forum was an important step forward in our mission to make yachting more sustainable. We look forward to implementing the ideas and strategies discussed and continuing to work towards a greener maritime future. 🌊🚤🌱

CONFINDUSTRIA NAUTICA: GLOBAL YACHTING MARKET SEES + 11% GROWTH REACHING 33 BILLION EUROS

The global yachting market continues to grow, having reached 33 billion euros over the course of the most recent available year [1] , over 25 billion of which derived from the superyacht segment alone. An expanding trend has also been recorded for the Italian boatbuilding industry, having increased by 20% on the previous year with a turnover of 4.4 billion. As is the case on a global scale, yards active in the production of superyachts make up a significant share of Italy’s production, a segment in which Italy is the undisputed world leader, with a share of 54% in terms of volume and 31% in terms of order book value.

This is the snapshot of the global yachting market that emerges from the joint study by the Italian Marine Industry Association and Deloitte entitled “The state of the art of the global yachting market”.

“Our mission at the Italian Marine Industry Association is to provide our members – a consolidated network representing the supply chain through an impressive nine product segments (from superyachts to marinas) – with the most recent data concerning the industry, the market and the evolution of consumer models. This is particularly relevant when it comes to the strong vocation for export demonstrated by the sector’s companies, their determination to increase their responsiveness to rapidly changing global economic scenarios, their ability to penetrate new markets, and their competitive positioning on international markets that follows.

This is why, for decades now, the Italian Marine Industry Association has made use of its own Market Intelligence and Research Department to publish quarterly studies and provide a research and monitoring function for the sector, first and foremost with “Nautica in Cifre” (“Boating in Figures”), acknowledged as an official source of key market data by the Italian Ministry for Infrastructures and Transport and benefitting from the collaboration of important international partners including the Edison Foundation, Deloitte & Touche, McKinsey & Company as well as a number of academic and research bodies.

The same approach is also applied to matters concerning sustainability. During the 64th International Boat Show in Genoa, scheduled to be held from 19th to 24th September this year, we will be hosting the third edition of the World Yachting Sustainability Forum, held in partnership with IBI – International Boating Industry, the world’s number one platform for yachting industry data.

Today, at the Italian Stock Exchange in Milan, we are here to present the second report resulting from our cooperation with Deloitte & Touche, which has taken on board the Italian Marine Industry Association’s project analysing the evolution of the global yachting market based on multiple research strands: from the examination of the superyacht global order book figures to an assessment of the sector’s positioning, from a structural analysis of the industry to the evaluation of consolidation operations underway, from the examination of potential demand penetration capacity to an outlook assessment for the next few years of Italian shipbuilding and its positioning on international markets. This is the most comprehensive study available, aimed at operators, stakeholders and the media,” stated Marina Stella, General Manager of the Italian Marine Industry Association.

“The yachting sector has remained solid throughout 2023, maintaining the same reactive growth trend that has defined the post-pandemic years: turnover in the industrial segments (boatbuilding and the production of marine equipment and engines) is expected to even exceed the record value of 8 billion euros,” pointed out Stefano Pagani Isnardi, Head of the Italian Marine Industry Association’s Market Intelligence and Research Department. “Among the key factors fuelling this growth is shipbuilding exports, having reached an all-time high in exports of yachting units produced in Italy in 2023, exceeding the significant threshold of 4 billion euros, with the USA continuing to be the most important market for our shipyards on the global market.”

“The boating market continues its global expansion, driven by the markedly significant growth of the superyacht segment, which is predicted to continue its role as the main driver of international growth over the coming years. This is good news for Made in Italy companies that, despite often being small and medium-sized businesses, still manage to contribute to Italy’s undisputed leadership in the production of this type of unit thanks their passion and true devotion to quality”, commented Ernesto Lanzillo, Private Leader for Deloitte Italia.

A global yachting market on the rise: +11% growth and 33 billion euros in turnover

The global new build market reached 33 billion in 2022, up 11% year-on-year, thus consolidating a steady rate of expansion that has recorded a compound annual growth rate (CAGR) of +10% since 2014. This significant increase is due in part to a growth in prices but depends primarily on the increased demand of new buyers. Geographically, North America and Europe dominate the market, accounting for approximately 70% of the global market. In terms of propulsion, motorboats represent approximately 90% of the market. In North America outboard engines take the lead at approximately 70%, while in Europe inboard engines represent about 50%.

The superyacht market: +21% growth for a value of 25 billion euros

During the most recent year to be analysed, the global superyacht order book reached 600 units: up 21% compared to the previous year, the value of which stands at 25.3 billion euros and 60% of which is generated by the over 60m segment. The demand for new orders is primarily fuelled by the segment representing units measuring between 30 and 40m, with yachts built using steel and composite materials, thanks to the growing number of new buyers.

An increase in the yachting industry’s penetration of the luxury market

Although the superyacht and ‘high-end’ yacht segment represents a niche within the luxury market (approx. 1%), a remarkable compound annual growth rate (CAGR) since 2019 of +5.4% was still recorded. In terms of margins, the yachting industry finds itself below the average of other luxury sectors. However, a continuous recovery trend in profitability has been underway over the course of recent years, with a 5.5% increase from 2015 to 2022.

Ownership & market penetration

In 2022, a slight drop in potential demand was recorded (4% less “billionaires” in 2022 against 2021) while the superyacht order book shows an opposite trend (+21% in 2022 against 2021). However, the superyacht market continues to present a limited degree of penetration compared to its potential demand (approx. 3%), revealing significant untapped potential. Over the coming years, U-HNWI growth forecasts are positive (+5% CAGR 23-28) and primarily driven by emerging markets.

M&A across the global yachting industry: 400 deals worldwide, 30 in Italy

From 2021 to 2023, the yachting market witnessed approximately 400 M&A deals, most of which were concentrated in the downstream segments of the value chain (around 57%) and took place primarily in North America (around 58%). Marine operators accounted for approximately 60% of these M&A deals, while financial investors contributed around 20%, marking a slight increase on the previous period analysed (+3%). In Italy, 30 M&A deals took place, of which around 50% were related to marine components and equipment, while approximately 40% involved shipyards active in the construction segments of the industry.

Italian shipyards: a growing trend of 20% for 4.4 billion euros, 90% of which is marked for export

The production value of the Italian shipbuilding industry was worth approximately 4.4 billion euros in 2022, an increase of 20% over the previous year. 70% was generated by yards that are also active in the production of superyachts. Compared to the global market, Italian shipyards are focused primarily on the production and sale of inboard boats (91% against 52%), registering a compound annual growth rate of 15.6% over the period between 2017 and 2022. The export figure recorded is also significant with approximately 90% of all domestic production destined for international markets.

The yachting industry is Made in Italy, world leader of superyachts

The Italian yachting sector continues to be highly fragmented, with a high presence of small to medium-sized manufacturers. 90% of operators generate 17% of national production, while the top 10 producers account for 83% of the sector’s value. In the superyacht sector, Italian shipbuilding is the global leader with a market share of 54% in terms of volume and 31% in terms of order book value. Furthermore, the Italian shipbuilding industry is the second largest on the world stage with a market share of approximately 15% in terms of international yacht production – an increase of 2 percentage points compared to the previous year – a share which reaches around 25% when it comes to the inboard segment.

A positive outlook for the Italian and global markets

With regards to the year 2023 (of which final figures are not yet available but will be presented by the Italian Marine Industry Association on 19th September during the 64th Genoa International Boat Show), growth in value of the Italian shipbuilding production segment (new build) is estimated to reach an average increase of between 5% and 15%, driven in part by the delivery of orders collected throughout the Covid pandemic period.

Moreover, growth in the global retail yacht market (new build) is expected to reach +8%, subsequently normalising over the course of the following three years with a predicted compound annual growth rate of 6% between the years 2024 and 2026. Large yachts will act as the most significant driving force behind market growth, while the craft boats segment is expected to slow down. The sailing segment will, instead, continue its positive trend with a growth rate of approximately 3/5%.

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Yacht Racing Forum set to reassemble the sports’ leading personalities from around the world

Scheduled tScheduled to take place in Amsterdam on November 20-22, the Yacht Racing Forum / Design & Technology Symposium will bring together key figures from the sport worldwide, with a focus on business, marketing, event management, design, technology and sustainability. Amsterdam, 4 September 2024 – The global yacht racing community is set to converge in…

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After thirteen successful editions, the Yacht Racing Forum today announces a new format and concept for the future. From 2024, the event will be held alongside METSTRADE Amsterdam, the world’s leading maritime industry trade fair. “This is great news for the Yacht Racing Forum, which will welcome a wider audience and strengthen its role as…

Luca Rizzotti, Founder, the Foiling Organization, Foiling Week and AC40 Class Manager

It’s important to be here because it’s a once in a year opportunity to be all together, learn and meet in person.

Knut Frostad, Executive Chairman, Henri Lloyd

You get an enormous menu of choices, with very detailed presentations on various topics that you can choose to participate, whether it is foiling, gender equity, technology, marketing… Depending where you come from and what’s important for you, you can maximise your value.

David Graham, CEO, World Sailing

We want to hear what the challenges are in the industry, what's going on in events. We also want to send a message about the things that are important to us at World Sailing.

Armel Le Cleac’h

The Yacht Racing Forum is a very important event for us, because we need to show what we are doing. We want to open up to the rest of the world with the Ultime class, and welcome new international teams. The Forum is the ideal platform to reach this very international audience.

Merfyn Owen, naval architect

It’s a really great event to meet your peers who work in your industry, keep relationships going and developing business opportunities.

Bill Pearson, Technical Director, North Sails

It is very rare that people from different sides of the industry meet, because our environment is super competitive, if not secretive. This conference is also unique because it is the only one that reassembles both sides of the sport: the design & technology and the business and marketing, and it’s really good to get a broad overview of what is going on.

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Sustainability In The Superyacht Industry

Sustainability in the superyacht industry extends beyond hardware and materials. industry professionals and seafarers alike are taking an active interest in living and maintaining sustainable lifestyles aboard super yachts. sustainable living is the new b….

Sustainability in the superyacht industry extends beyond hardware and materials. Industry professionals and seafarers alike are taking an active interest in living and maintaining sustainable lifestyles aboard super yachts. Sustainable living is the new buzzword in the world of yachting, and for good reason. With the increasing concern over climate change and the need to reduce our carbon footprint, industry professionals and seafarers alike are growing ever aware of their impact on planet earth. The yachting industry is no stranger to opulence and extravagance, but it is now moving towards responsible and mindful yachting practices that promote eco-friendliness, efficient resource management, and a commitment to preserving our oceans. This means practicing eco-friendly habits, such as recycling, composting, and limiting energy and water consumption. Moreover, many yachts are now taking part in initiatives to protect marine species and their habitats by engaging in eco-tourism and beach clean-ups.In this blog post, we will explore sustainability in the superyacht industry, discussing its importance, progress, and future goals.

To understand the importance of sustainability in the superyacht industry, it's essential to acknowledge the industry's impact on the environment. For starters, the sheer size and opulence of super yachts make them significant contributors to CO2 emissions. Additionally, the industry's production methods rely heavily on non-renewable resources such as fiberglass and plastics. Worse still, the industry has been known to create significant pollution through inadequate waste management and irresponsible anchorage. While these issues may seem disheartening, the industry's commitment to sustainability offers hope. Take a read of our previous blog about the future of sustainability in the yachting industry.

Over the past decade, the superyacht industry has made significant strides in eco-friendly practices. One of the most significant areas of progress has been in environmentally responsible construction materials. Manufacturers are now utilising different materials in the design and building process:

Bamboo: The Versatile Material Bamboo is a highly sustainable material that is lightweight, strong, and versatile. It can be used for many purposes on yachts, including flooring, furniture, and cabinetry. Bamboo is also an excellent alternative to teak, which has been traditionally used in the yacht industry but is becoming scarce due to over-harvesting. In addition to its durability, bamboo is also easy to maintain, and it is resistant to water, mold, and mildew.

Cork: The Natural Insulator Cork is a sustainable material that has excellent insulation properties, making it ideal for yachts. It is lightweight and does not absorb water, which makes it perfect for use in flooring and cabinetry. Cork has a unique texture and appearance that can add a natural touch to any yacht interior. It is also highly sustainable since it is harvested without harming the cork oak tree.

Recycled Plastics: Turning Trash Into Treasure Recycled plastics are another eco-friendly material that is gaining popularity in the yachting industry. These materials are made from old plastic bottles, bags, and other waste products. By using recycled plastics, manufacturers can divert waste from landfills and oceans while creating useful products. These materials can be used for anything from deck furniture to the hull of the yacht. Recycled plastic is also highly durable, maintenance-free, and resistant to UV rays and saltwater. Check out this Yotspot blog all about recycled plastics from the great pacific garbage patch.

Proving that sustainability and luxury can exist together, many of today's super yachts are equipped with eco-friendly features that do not compromise on comfort or quality. A huge step forward is the use of hybrid propulsion systems. For centuries, ships and boats have been powered by a single source of energy, either fuel or electricity. However, in recent years, hybrid propulsion has been gaining popularity in the marine industry and rightly so. Hybrid systems allow boats to switch seamlessly between multiple sources of energy, providing better fuel efficiency, reducing emissions, and offering quieter operation. The superyacht industry is developing and implementing new technologies that ensure a sustainable and enjoyable experience for passengers. For further reading, have a read of this blog 'An Olympic Pledge to Eradicate Plastic'.

As we've seen in this blog post, sustainability and the superyacht industry do not have to be mutually exclusive. On the contrary, they offer a promising partnership that will lead to a more sustainable future. With continued progress in construction materials, onboard systems, waste management, and lifestyle habits, the superyacht industry can position itself as a leader in eco-friendly practices. As professionals and seafarers alike join forces to protect marine life and preserve our oceans' beauty, there is hope that the superyacht industry can move towards a sustainable and brighter tomorrow.

Looking for like minded / environmentally aware Crew? CLICK HERE to explore the yotspot database and find your perfect staff! Or are you Crew and searching for the perfect vessel to work on? HEAD TO www.yotspot.com TO SECURE YOUR NEXT YACHTING ROLE!

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Global yachting market sees +11% growth reaching 33 billion euros

Italy remains world leader in Superyacht production with a 54% market share

M&A in the yachting sector: 400 deals registered worldwide, 30 in Italy

Positive new build forecasts: Italy to grow by 5-15% in 2023. Global retail market annual growth predicted to reach 6% between 2024 and 2026

Milan, 15 th July 2024 – The global yachting market continues to grow, having reached 33 billion euros over the course of the most recent available year [1] , over 25 billion of which derived from the superyacht segment alone. An expanding trend has also been recorded for the Italian boatbuilding industry, having increased by 20% on the previous year with a turnover of 4.4 billion. As is the case on a global scale, yards active in the production of superyachts make up a significant share of Italy’s production, a segment in which Italy is the undisputed world leader, with a share of 54% in terms of volume and 31% in terms of order book value.

The same approach is also applied to matters concerning sustainability. During the 64 th International Boat Show in Genoa, scheduled to be held from 19 th to 24 th September this year, we will be hosting the third edition of the World Yachting Sustainability Forum, held in partnership with IBI – International Boating Industry, the world’s number one platform for yachting industry data.

Today, at the Italian Stock Exchange in Milan, we are here to present the second report resulting from our cooperation with Deloitte & Touche, which has taken on board the Italian Marine Industry Association’s project analysing the evolution of the global yachting market based on multiple research strands: from the examination of the superyacht global order book figures to an assessment of the sector’s positioning, from a structural analysis of the industry to the evaluation of consolidation operations underway, from the examination of potential demand penetration capacity to an outlook assessment for the next few years of Italian shipbuilding and its positioning on international markets. This is the most comprehensive study available, aimed at operators, stakeholders and the media,” stated Marina Stella , General Manager of the Italian Marine Industry Association.

“ The yachting sector has remained solid throughout 2023, maintaining the same reactive growth trend that has defined the post-pandemic years: turnover in the industrial segments (boatbuilding and the production of marine equipment and engines) is expected to even exceed the record value of 8 billion euros ,” pointed out Stefano Pagani Isnardi , Head of the Italian Marine Industry Association’s Market Intelligence and Research Department . “Among the key factors fuelling this growth is shipbuilding exports, having reached an all-time high in exports of yachting units produced in Italy in 2023, exceeding the significant threshold of 4 billion euros, with the USA continuing to be the most important market for our shipyards on the global market.”

“The boating market continues its global expansion, driven by the markedly significant growth of the superyacht segment, which is predicted to continue its role as the main driver of international growth over the coming years. This is good news for Made in Italy companies that, despite often being small and medium-sized businesses, still manage to contribute to Italy’s undisputed leadership in the production of this type of unit thanks their passion and true devotion to quality ”, commented Ernesto Lanzillo , Private Leader for Deloitte Italia.

A global yachting market on the rise: +11% growth and 33 billion euros in turnover

The superyacht market: +21% growth for a value of 25 billion euros

An increase in the yachting industry’s penetration of the luxury market

Ownership & market penetration

In 2022, a slight drop in potential demand was recorded (4% less “billionaires” in 2022 against 2021) while the superyacht order book shows an opposite trend (+21% in 2022 against 2021). However, the superyacht market continues to present a limited degree of penetration compared to its potential demand (approx. 3%), revealing significant untapped potential . Over the coming years, U-HNWI growth forecasts are positive (+5% CAGR 23-28) and primarily driven by emerging markets.

M&A across the global yachting industry: 400 deals worldwide, 30 in Italy

From 2021 to 2023, the yachting market witnessed approximately 400 M&A deals , most of which were concentrated in the downstream segments of the value chain (around 57%) and took place primarily in North America (around 58%). Marine operators accounted for approximately 60% of these M&A deals, while financial investors contributed around 20%, marking a slight increase on the previous period analysed (+3%). In Italy , 30 M&A deals took place, of which around 50% were related to marine components and equipment, while approximately 40% involved shipyards active in the construction segments of the industry.

Italian shipyards: a growing trend of 20% for 4.4 billion euros, 90% of which is marked for export

The production value of the Italian shipbuilding industry was worth approximately 4.4 billion euros in 2022 , an increase of 20% over the previous year. 70% was generated by yards that are also active in the production of superyachts. Compared to the global market, Italian shipyards are focused primarily on the production and sale of inboard boats (91% against 52%), registering a compound annual growth rate of 15.6% over the period between 2017 and 2022. The export figure recorded is also significant with approximately 90% of all domestic production destined for international markets.

The yachting industry is Made in Italy, world leader of superyachts

The Italian yachting sector continues to be highly fragmented, with a high presence of small to medium-sized manufacturers . 90% of operators generate 17% of national production, while the top 10 producers account for 83% of the sector’s value. In the superyacht sector, Italian shipbuilding is the global leader with a market share of 54% in terms of volume and 31% in terms of order book value. Furthermore, the Italian shipbuilding industry is the second largest on the world stage with a market share of approximately 15% in terms of international yacht production – an increase of 2 percentage points compared to the previous year – a share which reaches around 25% when it comes to the inboard segment.

A positive outlook for the Italian and global markets

With regards to the year 2023 (of which final figures are not yet available but will be presented by the Italian Marine Industry Association on 19 th September during the 64 th Genoa International Boat Show), growth in value of the Italian shipbuilding production segment (new build) is estimated to reach an average increase of between 5% and 15%, driven in part by the delivery of orders collected throughout the Covid pandemic period.

Moreover, growth in the global retail yacht market (new build) is expected to reach +8%, subsequently normalising over the course of the following three years with a predicted compound annual growth rate of 6% between the years 2024 and 2026 . Large yachts will act as the most significant driving force behind market growth, while the craft boats segment is expected to slow down . The sailing segment will, instead, continue its positive trend with a growth rate of approximately 3/5%.

[1] Most recent data available as of 2022.

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We traveled to 27 countries for a year — without taking a single flight.

Whatever floats your boat.

Two globetrotters have spent the past 15 months traveling the world without taking a single flight.

Tommaso Farinam, 25, and Adrian Lafuente, 27, are “sustainable explorers” who have moved between continents by hitching rides on strangers’ sailboats.

Planes — which emit around 90kg of CO2 per passenger per hour, depending on the aircraft — are an absolute no-go.

“We are ‘boat hitchhikers,'” Farinam, who hails from Italy, told Luxury Travel Daily . “We found one of our ‘rides’ on Facebook, talking to a boat captain who offered us a seat.”

The thrifty, eco-friendly move means the duo have each spent just $7,700 (£5,900) each while visiting 27 different countries.

Tommaso Farinam, 25, and Adrian Lafuente, 27, are "sustainable explorers" who have moved between continents by hitching rides on strangers' sailboats.

Farinam and Lafuente kicked off their global adventure last summer, traveling through Europe on a shoestring budget.

They then spent 39 days at sea, sailing across the Atlantic to reach South America.

The pair have also traversed the Gulf of Panama, which was anything but smooth sailing.

“The first 10 days in the Gulf of Panama can only be described as absolutely terrible,” Farinam recalled. “We had very unfavorable winds, storms and big waves constantly. It was quite scary at first to think that we might flip upside down.”

“Our intention is to help in creating hope for a world where we, humans, are actually able to live in symbiosis with the rest of the vegetation, animals and other humans," Farinam stated.

Still, the pair aren’t willing to swap the sea for the sky.

After exploring much of South and Central America, the pair are sailing the Pacific Ocean in the hopes of reaching Australia.

“It’s been around three months since we started and we have visited some islands in the middle!” Farinam exclaimed.

They plan to explore Down Under for several months before making their way up to Asia by boat.

Farinam and Lafuente share their story with fans online as part of “Project Kune” – which is their commitment to showing the world that no-flight travel is more than possible.

“Our intention is to help in creating hope for a world where we, humans, are actually able to live in symbiosis with the rest of the vegetation, animals and other humans,” Farinam stated.

Unified advocacy: The untapped elixir for advancing social change

Hands of people of various ethnicities next to each other: Unified advocacy can clear the confusion that can exist among organizations working towards similar causes.

Unified advocacy can clear the confusion that can exist among organizations working towards similar causes. Image: Unsplash/Clay Banks

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Unified advocacy, involving various stakeholders of a cause to collaborate and pool resources, is crucial for amplifying social change.
Despite its potential, unified advocacy faces significant barriers, including the slow pace of action, resource constraints, concerns over brand identity and potential conflicts with authorities.
Overcoming barriers to unified advocacy requires a multifaceted approach, including mentorship and capacity building, establishing clear governance structures, and long-term resource deployment.

The 21st century presents a paradoxical landscape. On the one hand, the world faces intricate and interwoven challenges such as social and racial justice, migration crises, wars and climate change. On the other hand, a broad spectrum of institutions, governments, civil society organizations and communities are tirelessly working to develop context-specific solutions to address these pressing issues.

Despite the diversity of efforts and the relevance of these interventions, a critical gap persists: the lack of unified advocacy. This absence of a cohesive, unified voice within the development narrative not only limits the impact of these interventions but also fosters confusion and apathy among those engaged in or affected by the sector.

This lack of unity, in turn, hampers the ability to garner widespread support and commitment to solving these global challenges.

Have you read?

Solving problems the civil society way, here's how business can be a platform for social change, how these social innovators harness community and collaboration to help create system change, why unified advocacy is so important.

Unified advocacy is a powerful tool for amplifying social change. It refers to a collaborative effort in which individuals, communities and organizations pool their resources, expertise and influence to amplify impact.

While successful advocacy efforts abound, stories of unified advocacy are less frequent. Where unified advocacy has been implemented, the results have been transformative.

1. Amplification of the issue

A unified front makes it difficult for the state, policymakers and influencers to ignore the cause. Greta Thunberg’s climate action began with her solitary protest outside the Swedish parliament and rapidly gained global momentum as millions joined her in demanding climate action from their governments.

This movement’s unified voice captured the world’s attention and placed climate change at the forefront of the global agenda.

2. Influencing mindsets and behaviour change

A collective front fosters trust and credibility, normalizes diverse perspectives and reinforces narratives through repetition, leading to a shift – at scale. The marriage equality campaign in the United States is a prime example. By framing the conversation around shared values such as love, family, and commitment, the campaign garnered national support, ultimately leading to the Supreme Court guaranteeing same-sex couples the right to marry.

3. Leveraging complementary skills and resources

Collaboration allows partners to play to their strengths while compensating for their limitations. This approach fosters innovation and reduces duplication of efforts. The Migrants Resilience Collaborative exemplifies this by combining the strengths of government, the private sector and civil society to secure safe employment and social security for vulnerable migrant workers.

4. Facilitating policy shifts

Unified advocacy can lead to significant policy changes by creating a compelling, evidence-based narrative. Through collaboration with Indigenous peoples and allied organizations to force stronger environmental standards, the Amazon Sacred Headwaters Initiative successfully stopped a harmful Forest Law bill in Peru and secured a referendum to halt oil extraction in Ecuador’s Yasuní National Park, protecting vital ecosystems and indigenous lands.

Achieving systemic change requires patience, persistence, and a long-term perspective.

Barriers to unified advocacy

Despite its potential, unified advocacy is not without challenges. As practitioners of collective action over the past years, we also acknowledge that unified advocacy is neither easy to formulate nor cheap to execute. Many changemakers recognize its value but struggle with the practicalities of engagement. Key barriers include:

Slow pace of action: Unified advocacy efforts, like any collective action initiative, require significant time to shape up and to achieve systemic change. Often, it leads to frustration among participants.
Resource constraints: Both material and human resources are often stretched thin, making it difficult for organizations to commit to collaborative efforts.
Brand and theory of change concerns: Organizations may fear that unified advocacy could dilute their brand identity or compromise their specific theory of change.
Funders’ attribution issues: Discussions with funders about the attribution of outcomes can be complex and contentious, deterring organizations from participating in unified advocacy.
Lack of local case studies: The absence of regional examples of successful unified advocacy can discourage engagement.
Potential conflicts with the authorities: Unified advocacy efforts also attract attention. However, when they challenge the status quo, there is a risk of conflicts with authorities and power structures, which further inhibits organizations from joining unified advocacy efforts.

Pathways to overcome barriers

Recently, we attended the Schools of Tomorrow Summit with an eclectic group of school leaders from around the world. In one rare instance of unified advocacy, five education civil society organizations came together to spotlight education leadership and how it is critical to drive improvements in the school system. We quickly found synergies with our own mission and were glad to co-advocate . The lessons we have shared twice earlier continue to guide our collective efforts.

To overcome the barriers to unified advocacy, a multifaceted approach is needed:

Mentorship and capacity building: Seasoned organizations with resources, experience and networks must step up to mentor and support others, helping them navigate the complexities of unified advocacy.
Clear governance structures: Establishing governance systems with clear strategies, timelines, incentives and defined roles and responsibilities can facilitate smoother collaboration and action.
Long-term resource deployment: States and philanthropic networks must recognize that systems change is a long-term endeavour that requires sustained collective effort. Resources should be allocated accordingly, supporting long-term unified advocacy initiatives.

Advocacy is a marathon, not a sprint.

Achieving systemic change requires patience, persistence, and a long-term perspective. Unified advocacy, when effectively harnessed, has the potential to amplify the development discourse, making this century one where we collectively build an equitable and sustainable future for all.

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World Yachting Sustainability Forum at the 63rd Genoa Boat Show
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World Yachting Sustainability Forum at the 63rd Genoa Boat Show
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The First Edition of The Shaping the Future
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Unified advocacy: The untapped elixir for advancing social change

Have you read?

1. Amplification of the issue

2. Influencing mindsets and behaviour change

3. Leveraging complementary skills and resources

4. Facilitating policy shifts

Barriers to unified advocacy

Pathways to overcome barriers

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