New Construction Projects Increase While Refit Season Remains Weak

There is still an increasing demand for new construction in the superyacht business. Most builders are reporting more enquiries than last year and the number of contracts signed is beginning. However according to a market status report issued by Fraser Yachts, shipyards are still having to reduce their prices in order to secure a new contract.

The company’s CEO Hein Velema said, “We expect that the profitability of shipyards will be problematic over the coming years. Potential buyers of new construction yachts should be careful in their selection of a shipyard.”

Most refit yards had a weak winter season, the company said. Both in Europe and the US the yachts spent less time in the yards and the jobs were limited in comparison with last year.

Some suppliers said that there was an increase in yachts that organised the maintenance and refit works themselves from the dock where they were berthed.