With over 170 years of history, Baglietto represents one of the most authoritative and renowned names in Italian shipbuilding, synonymous with construction quality, innovation and design in the segment of steel and aluminium yachts from 35 to 65 metres. The company, which has managed to renew itself while maintaining its identity intact, now focuses production on full-custom and semi-custom units below the 499 GT threshold, standing out for its engineering approach, attention to detail, and the ability to constantly evolve its models without betraying their DNA. Among its most representative projects are the successful 52/54-metre platform and the DOM line, which has become a benchmark for volume, brightness, and the integration between interior and exterior spaces.

At the head of the shipyard’s commercial strategy is Fabio Ermetto, Chief Commercial Officer since 2020. A naval architect by training, Ermetto combines a solid technical background with more than 25 years of experience in the international high-end yachting market, having held top positions in leading companies such as Camper & Nicholsons, Fraser Yachts, Benetti Yachts, and Heesen Yachts. His vision, strongly focused on product coherence and market awareness, has helped consolidate Baglietto’s position among the world’s leading shipyards, projecting the brand towards new challenges linked to efficiency, sustainability and extreme customization. Below is the interview he gave us following the recently concluded Fort Lauderdale Boat Show.

PressMare – Let’s start from the latest news, the sale of the new Baglietto 48m, a full custom project that you announced just a few hours ago during the most important American boat show. What kind of yacht is it?

Fabio Ermetto – The new 48-metre yacht, hull number 10277, represents the synthesis of Baglietto’s shipbuilding tradition, our ability to build high-quality yachts, the tailor-made vision of Floating Life, which represents the owner, and the technological innovation of Volvo Penta, which supplies the IPS Professional propulsion system.

The project stems from the owner’s precise desire for a yacht with strong seakeeping qualities, capable of long-range navigation, even around the world – a statement of intent that guided every design choice.

The exterior and interior design, by Floating Life in collaboration with Satura Studio, features a continuous dialogue between indoor and outdoor spaces: large 360° panoramic windows on the main deck, an uninterrupted lower deck, and transparent connections between levels create a direct relationship with the sea and surrounding nature. Warm, natural materials, textured finishes, and a focus on comfort contribute to an understated yet refined elegance.

The hull and naval engineering, developed by Floating Life and updated with Zero13 under Baglietto’s supervision, are designed to obtain ICE CLASS 1D certification, allowing extended cruising in extreme and high-latitude environments. The optimized hull reduces drag, ensuring a range exceeding 5,000 nautical miles and up to 30% fuel savings.

Propulsion will be provided by the Volvo Penta IPS Professional Platform, the most advanced system currently available in the superyacht sector in terms of efficiency, performance and control, featuring smart functions such as Eco Mode, which automatically optimizes consumption while reducing emissions and noise.

This new project confirms Baglietto’s great flexibility in building highly customized yachts with advanced technology, and the adoption of the Volvo Penta platform further highlights this capability.

PM – A few weeks earlier, after the Monaco Yacht Show, you announced the sale of the first Baglietto 54-metre, a very positive sign to start the new nautical year 2026…

FE – The first Baglietto 54 was a speculative build in which we had great confidence, as it is an evolution of the highly successful 52-metre model – we have sold nine units and delivered seven. The idea of moving to 54 metres came from two considerations: the 52 was the largest 499 GT yacht on the market; some competitors started to follow suit, so we decided to evolve the model to keep offering “the largest 499 GT” by extending it to 54 metres. We also wanted to include several improvements already introduced as client customizations, turning them into structured solutions, especially at the layout level. The technical platform and naval project remain virtually unchanged, with a rethinking of the spaces. The first unit will be delivered in 2027 – an interesting timeframe for a contract signed now – and we’ve already started the second, scheduled for 2028.

PM – What convinced the owner to choose the 54?

FE – The volume. The client was evaluating similar yachts, even pre-owned ones, but found too many compromises in the layout. When we presented the 54, it already met 95–99% of his expectations. Delivery timing helps, but only if the product is good: there are yachts “ready” five months before launch that remain unsold. You need the right product…

PM – How do you “calibrate” a project so that it sells before delivery?

FE – You can never be sure. You rely on the experience of the team and the designer; you create something innovative but not “too new”: overly aggressive lines age quickly — you build one or two yachts and then they vanish. You must design to appeal to the widest possible market: an intelligent compromise based on market knowledge, design and technical input. The mistake is to start from one client’s personal taste: one, two or even five clients don’t make a market. You need the right “chemistry” of elements. We found it in the 54 and the DOM 133, of which we’ve just signed the twelfth unit.

PM – How has the 52-metre evolved from the first unit to the latest?

FE – We don’t work with “model years”: the product evolves as we build. Metal, unlike fiberglass which requires moulds, allows us to easily implement the improvements suggested by clients and standardize them. This way, the model doesn’t “age,” you don’t devalue the yacht for the first buyer, and you keep it market-relevant longer. Across the nine 52-metre units, you can see solutions born from owners’ input that later inspired the 54-metre project.

PM – What are the main layout differences between the 54 and the 52? Give us two or three key ones.

FE – We’ve standardized several upgrades requested on some 52s, such as the gym accessible from the aft platform, now redesigned more rationally.

We’ve also revised the engine room ventilation – always a delicate point – seeking the right balance between main deck spaces (the salon, first of all) and reliable airflow that keeps operational temperatures under control. In addition, we now offer the tender storage on the foredeck as standard. On the 52, some owners preferred a garage, others opted for tenders on the main deck; on the 54, up to two tenders of 7.5–8 metres can be stored there – impossible inside a 500 GT. This freed additional interior space for guests.

PM – Still, apart from the naval platform, nothing about these Bagliettos is standard…

FE – Indeed. No two 52-metre yachts share the same layout – different interior designers, high customization capability. The 54 offers the same flexibility: any variation the client wants, especially when the contract is signed early in the build.

PM – Regarding the 52-metre’s evolution, has the adoption of SCR (Selective Catalytic Reduction) systems affected the engine room design?

FE – The 52-metre engine room was designed from the outset with SCRs and hybrid predisposition. If you don’t install the hybrid, you get a very spacious machinery room – a benchmark for comparable yachts that usually dedicate more room to the gym. Let’s remember: these are vessels meant to sail. Maintenance and systems are the heart of the boat. It’s not a house. We prefer a generous engine room with proper spaces for servicing and disassembly, as you would expect on a 50-metre yacht.

PM – Then there’s another new project: a 60-metre Baglietto we haven’t seen in the water yet…

FE – Yes, we’ve sold two 60-metre units and are building a third, again on spec – one per year: first delivery in 2026, launch next year; second in 2027.

PM – Building on spec: is it more of a risk or an advantage?

FE – We try to make it only an advantage for the client. Of course, it’s a challenge for the yard, but if a yacht can be delivered in two years instead of four, its appeal increases significantly and sales chances rise. Building spec yachts gives momentum, but if the product or approach is wrong, you’re left with it until it sells — perhaps only once it’s afloat, meaning you’ve financed it entirely. Then it’s questionable whether the business case holds.

PM – Many owners of this type of yacht are older and unwilling to wait…

FE – Some are, but many are not. Even younger clients, in their 40s or 50s, are in a hurry too: they travel and move a lot. They tend to be more sensitive to hybrid and sustainability themes, particularly in Europe; in the US, awareness of these topics is currently lower. Over the past 5–10 years, yacht usage has changed: more family time, longer cruising, new destinations beyond the traditional Mediterranean routes — which, by the way, are increasingly attracting American owners coming here almost every year.

PM – How many Baglietto 52 owners have chosen hybrid propulsion?

FE – Two out of nine. One already delivered, the other scheduled for delivery next year.

PM – Why such limited uptake? Is it a matter of cost?

FE – When we present the yacht, there’s interest, clients ask for all the hybrid details, but when the numbers come in, they usually choose traditional propulsion. The hybrid option adds at least 10% to the yacht’s total cost, plus battery-related variables — more capacity and range mean more weight, more space, more cost. Those who choose hybrid do it for technology or sustainability, not to save fuel, as these components remain expensive.

PM – Despite the limited success of these technologies in yachting, you have continued research into hydrogen power for onboard energy generation…

FE – I believe yacht builders must do their part. Reducing humankind’s environmental impact is a necessary and irreversible process. For years, we’ve partnered with specialized companies to address alternative fuels seriously. At our yard, we have an operational hydrogen generation station — the “Bzero” (Baglietto zero emission) — which we could already replicate for onboard installation.

PM – On which of your yachts?

FE – We’re studying a version of the 60-metre — probably slightly longer — “fit for hydrogen”: designed to integrate, when we find a client ready for the challenge, hydrogen as a fourth power component alongside engines, generators and batteries. Of course, costs rise even more than for hybrid solutions, but there are “pioneer” owners pushing the industry toward that future. Technologically it’s extremely interesting, but it takes a client willing to embrace it — we can’t build such a unit on spec.

PM – Still, a hydrogen refueling network in marinas seems far off…

FE – That’s exactly where we started. Our system produces hydrogen from seawater, avoiding reliance on a distribution network: you take seawater, split hydrogen and oxygen using minimal energy (from photovoltaic panels, even with limited surface), store H₂, and convert it to electricity through fuel cells. It’s self-sufficient, no need for bunkering infrastructure.

PM – PM – Let’s talk about another very significant yacht that you recently presented, the Explorer XO, once again designed – like many Bagliettos – by Francesco Paszkowski. Have you sold it?

FE – Not yet. It’s a deliberately “disruptive” design, very different from our others. The market in that size range remains traditional. But we wanted it nonetheless — we’re confident a client will understand its meaning. Many 500 GT explorers offer a lot, but in Arctic waters, if you stay in the salon, you see little; aft, the view is limited. Paszkowski drew inspiration from the iconic Italian “Settebello” train and its panoramic bubble — that’s how the 360° observation capsule was born: to enjoy the landscape in cold or hot climates from inside, in full comfort.

The hull is based on the proven 52-metre platform: great range, explorer-ready, huge tender, ample storage, and, upon request, ice-class certification for navigation in icy waters.

PM – About the DOM line: what has driven its success?

FE – The DOM line, designed by Stefano Vafiadis, began with the 133-footer. Its standout feature is the exceptional volume: 41 metres of length and 410 GT, thanks largely to its 8.70-metre beam — almost that of a 50-metre yacht. Another strong point: large glass surfaces on main and upper decks, with fully opening doors that eliminate the boundary between inside and outside. “DOM” comes from domus: we wanted a home-like feeling — pergola, veranda, continuity between spaces. The lines are modern, slightly edgy. Two years ago we also launched a smaller version, 35 metres: without public presentations, just a few private showings, and we immediately sold two, with a third under negotiation. It’s an interesting segment: at 35 metres, the market mostly offers fiberglass production yachts or fast boats. Steel three-deck displacement yachts with large volume and high build quality are rare. Our semi-custom approach gives owners great freedom. We’ll build no more than two per year — it will give us much satisfaction.

PM – With a superyacht market less “bubbly” than 2–3 years ago, is price now more of a factor?

FE – The market is back to normal; the abnormal phase was two years ago. Our policy is the same: realistic prices and limited discounting then as now. In smaller composite boats under 80 feet, you hear of 30% discounts today, but on 30–50-metre yachts, a 20% discount would damage credibility. Clients know how to read the market: at Baglietto, the apparent price might look higher or lower, but the discount is smaller — an approach more appropriate for this segment. You might lose a few clients, but those focused solely on discount probably aren’t the right ones for a brand that builds quality.

PM – Do you have repeat clients?

FE – Yes, a good percentage. Not all stay with Baglietto forever, but the building experience matters: it must be a pleasure, not a burden. Challenges arise, but with the right attitude they’re solved. The foundation remains the product: a vessel that meets technical specs and promises. Deliver a yacht with solid fundamentals, even with small delays or details to fine-tune, and the client sails away happily. A functional, comfortable, quiet yacht — believe me, that’s not guaranteed in this business.

PM – The solidity of Baglietto’s shareholder, the Gavio family — does that influence buyers?

FE – Very much. Buying a yacht means entering a 2–4-year partnership with the yard. Owners want both enjoyment and financial security. You can have all the bank guarantees, but if the shipyard collapses… Our clients know our shareholder is extremely solid, with no IPO plans or upheavals. We’re clear about what we do: 35–65-metre steel yachts, no fiberglass, no mass production. Baglietto will always have limited output. The strength our shareholder gives us is the continuous reinvestment of profits and dividends into the company — a decisive stability factor for multi-year projects.

PM – The US market: has it recovered after a lacklustre 2024? Have tariffs affected you?

FE – The tariffs themselves don’t hit us directly; it’s the uncertainty around policy that weighs. Periods of optimism alternate with confusion. Stock markets reacted strongly at first, now they’re stable, but uncertainty makes Americans — and others — delay purchases: “maybe in six months.” The US remains fundamental for yachting, not just Baglietto, but decision times have lengthened.

PM – With the “One Big Beautiful Bill,” the new tax law introduced by the Trump administration in USA, yachts purchased for charter now qualify for 100% deduction. How has the market responded?

FE – The rule allowing full depreciation for charter yachts has had an impact, particularly on the pre-owned market: owners and companies look for relatively new yachts, even at high prices, as long as they can close before year-end. Only those who purchase and put the yacht into service by December 31, 2025, can be sure to benefit in this year’s tax return. So on new builds — ordered now, delivered in 2–4 years — the effect is smaller, since the rule could change in the meantime.

PM – Refit is a major business segment in superyachting. Does it interest you?

FE – At the moment, only in a very limited way. Simply for logistical reasons, we lack the space. Many of our yachts return for warranty or regular maintenance — even 15 years after delivery — but our slots are full. Refit is a different job from construction: it needs a dedicated division, experienced staff, and separate facilities. You can’t mix them with ongoing production. So, for now, it’s not in our plans.

PM – The Genoa Boat Show has been moved after Monaco: might we see a Baglietto exhibited there again?

FE – The new timing could help. With Genoa in early October, it would make sense to show a DOM 115 or 133 — yachts back from the season, close to our yard, and a five-day show is manageable. We’ll evaluate.

PM – Why didn’t you exhibit in Cannes this year?

FE – We’ve been considering it for a while. Cannes is excellent for serial production boats and large groups that build them. In the superyacht area where we had our stand, visitors mostly came from that segment, strolling among larger metal yachts out of curiosity. For our product range — 40–50 metres — commercial return is limited. Also, Cannes is early September: to exhibit, you need the owner’s yacht, still in use. If you show it at Cannes, you can’t at Monaco two weeks later. We did the math and focused on Monaco. Serious clients looking at 35–40 metres go there. We also added Palm Beach — a huge success, even more than Fort Lauderdale — and we’ll return.