22 DECEMBER 2015 | International Boat Industry http://www.ibi-plus.com
Markets & Regions
UK | BOATBUILDERS
although the joint administrators will retain a core
team of workers to help trade the business, service
existing orders and liaise with customers, suppliers
and boat dealers.”
In the volume manufacture of large sailing boats,
Southampton-based Oyster yachts dominates. The
company is about to add a 118ft model to its portfolio.
Oyster saw a slight decline in turnover in 2014, down
from £37.1 million to £36.9 million,
but converted a loss of £920,000
(2013) into a profit of £300,000.
The builder has recently added two
new bays to its East Coast facility,
and almost doubled the staffing
there, taking the total workforce
from 349 to 376.
CEO David Tydeman reports a
receptive US market, and a very
strong order book for the year
ahead. “We have 15 boats in build,
with a further 10 waiting to start, and our total order
book is now £60 million,” he told IBI. “Around 60% of
our sales are to repeat customers, most of whom are
trading up, but there are also a few trading down, as
they prefer a yacht that can be sailed with minimal
crew.” Tydeman also thinks that British yachts built
in a classic style have a great appeal to overseas
customers. “The sailing boat sector in the 40ft-80ft
region in the US is much smaller than people realise,
and there is also a strong interest in catamarans.
However, at the recent Annapolis boat show, we took
orders for two 475s (47ft) and two 575s (57ft). We
were exhibiting an owner’s boat that had a custom-
built classic teak and mahogany interior, rather than
the lighter woods and veneers used by other builders,
and it seems to have struck a chord.”Around 60% of
Oyster’s sales
are to repeat
customers, most of
whom are trading up,
but there are
also a few
trading downCOUNTRY
REPORTTGuernsey-based
Aquastar: “The
Islands’ non-VAT
status is a big draw”
SPendennis says
it’s better able to
undertake both new
builds and major
superyacht refits of
up to 90m
The investment in the new Rob Humphrey’s
designed 118 shows the brand’s continuing
development at the top-end of the sailing market.
Production has been suspended in Turkey, making
Oyster an entirely UK-based operation. With over
40 boats expected to join the 2018 owners rally, the
company will be using the opportunity to help a
global marketing campaign, most notably in South
Africa and Australia.
Further west, Falmouth-based Pendennis has
used the relatively flat market and low interest rates
to re-invest, so the yard is better able to undertake
both new builds and major superyacht refits of up to
90m. The privately owned group invested £9.2 in new
refit sheds and other facilities, with regional grants
helping to build a locked wet basin directly outside.
“We saw that the average size of yachts in our
market was increasing,” explained Toby Allies,
Pendennis’s marketing director.
“This is why we enlarged our travel
hoist from 400 tons to 640 tons,
and increased the capacity of our
sheds. The new wet basin has been
a huge addition to our efficiency
by allowing fitouts to continue on
site, rather than at the nearest deep
water marina.”
Pendennis reported a slight
decline in turnover from £37.1m
in 2013, to £36.9m in 2014, but
achieved a profitability of £2.3m. The company also
reports a healthy order book, particularly around the
seasonal migration of yachts, but currently has no
new build projects. “Around 80% of our clients are
from the US, and the recent inward investment has
reinforced our competitiveness,” Allies said.MID-RANGE MOTORBOAT SECTOR
The recession of 2008-2012 hit the so-called ‘middle
England’ class the hardest, and in its wake the mid-
range market has become very specialised, with even
comparatively small boats continuing to offer semi-
custom fitouts as standard.
In the motorboat market, the mid-range
models from Princess, Sunseeker and Fairline are
supplemented by the likes of Broom, Pearl and
Aquastar, the latter based in the UK-dependant but
non-EU Channel Islands.
“The market is definitely improving, “said
Aquastar’s CEO Geoff Wilson. “We are receiving a lot
of enquiries, particularly from the UK and Europe,
and of course the Islands’ non-VAT status is a big
draw. A lot of customers are downsizing from larger
boats to one that is equally strong and seaworthy,
but easy to handle by just two people. We offer a
full custom build, even down to the styling of the
superstructure, and we are now actively looking for
a US agent. We would also like to expand into the
Far East.”