During the Blue Design Summit in La Spezia, PressMare met with Guido Orsi, Vice Chairman of Tankoa Yachts. It was the right opportunity to take stock of a particularly intense period for the shipyard: expansion across two production hubs, the acquisition of OTAM, the search for skilled personnel, a market increasingly rewarding large metal yachts and lingering questions surrounding hybrid propulsion. The result is the portrait of a shipyard undergoing a significant phase of growth while maintaining its family-owned identity and direct relationship with yacht owners.

PressMare – Orsi, it has been some time since we last spoke. Back then we discussed the Civitavecchia facility, which you had only recently taken control of. It was still in its start-up phase. What has changed since then?

Guido Orsi – Quite a lot, to be honest. Today Tankoa operates two fully established production hubs: Civitavecchia and Genoa. When you visited the Lazio facility, it had just started operations; now it is running at full capacity. All metal construction work is carried out there—hulls and superstructures, both in steel and aluminium. Every one of our yachts physically starts its life there.

PM – How many yachts are currently under construction?

GO – Six at the moment. Not bad, considering that we are also integrating activities that were previously carried out elsewhere, such as piping, engine and generator installation, and hull-superstructure joining operations. This gives us much greater flexibility in deciding when and how the platforms are transferred to Genoa, where final assembly takes place.

PM – Does the Civitavecchia yard work exclusively for Tankoa?

GO – Yes, exclusively for Tankoa production. That was a fundamental requirement. Having a dedicated facility allows us to oversee construction directly and maintain the quality standards we want to guarantee to our clients. Working with steel, and especially aluminium, requires very specific expertise. Recruiting and retaining the best welders is not a secondary issue; it is central to our business model.

PM – How many people are currently working at Tankoa Civitavecchia?

GO – Including direct employees and subcontractors, around 300 people.

PM – And finding them is not easy, I imagine.

GO – It is probably the industry’s biggest challenge right now. The large yacht sector remains very active, demand for skilled workers is high everywhere, but our profession is still relatively unknown among younger generations. Many young people have no idea what it means to build a yacht or what kinds of skills are required inside a shipyard. There is a huge gap between what the market demands and what the education system produces.

PM – So attracting new talent also requires a cultural effort.

GO – Exactly. We are investing heavily in relationships with technical schools and vocational institutes, both in Civitavecchia and Genoa. The goal is to rebuild a professional pipeline that once existed much more naturally. Some areas—Livorno, Viareggio and La Spezia, for example—have succeeded in creating strong links between education and the yachting industry. We want to replicate that model.

PM – How is your relationship with the Port Authority of Civitavecchia?

GO – Very positive. There is constant dialogue and they believe in the project and in the development of that industrial area. When local institutions genuinely support you, everything becomes easier.

PM – Let’s move to Genoa. Once the platforms arrive from Lazio, what happens next?

GO – Genoa is where final assembly and outfitting take place. Today we have five buildings, but three of them are temporary structures located on the dockside. That has been a limitation because it has prevented us from working exactly according to the standards we had envisioned.

PM – And this is where the acquisition of OTAM comes into play…

GO – Exactly. First and foremost, that transaction was driven by the need for additional space. We acquired both the brand and the production facilities, and that changes the outlook significantly. We are still subject to bureaucratic timelines, but the plan is to begin redevelopment works at the yard by the end of the year.

PM – What does the project involve in practical terms?

GO – First of all, a complete renovation of the offices and staff facilities. Around 600 people, including direct employees and subcontractors, currently work in Genoa, so this is far more than a cosmetic exercise. The project also includes two new construction halls dedicated to yachts between 60 and 70 metres, a new basin capable of handling hulls up to 80 metres and a dedicated refit area. In total, five new buildings designed around the latest technologies.

PM – So refit becomes a strategic business line for Tankoa?

GO – Yes, because as more yachts enter service it becomes essential to retain clients throughout the entire lifecycle of their vessels. The idea is that owners should come back to us for any future work on their yacht. It is a long-term approach: we do not simply deliver a yacht and stop there.

PM – You are also moving towards larger yachts.

GO – The market is clearly shifting in that direction. Until a few years ago, the strongest segment was between 45 and 55 metres. Today demand is concentrated between 55 and 65 metres, roughly in the 500 to 1,200 GT range. Our latest sale, concluded during the Palm Beach International Boat Show, was a 72-metre yacht, which says a lot.

PM – Is the market still holding up commercially despite global uncertainty?

GO – Yes, it is. In fact, I would say it is performing well. The large yacht market remains active, probably because in an unstable global environment some investors still see the sector as attractive. We currently have 11 projects at various stages, from design to delivery, and there are numerous ongoing negotiations.

PM – At the same time, the market seems to be increasingly favouring metal construction.

GO – According to the latest data, the fiberglass segment—essentially yachts under 50 metres—is down by about 8%, while metal yachts are growing by around 2%. The market is rewarding complexity and larger dimensions. In this context, Italian yachting continues to gain market share globally. I hope institutions increasingly recognize this, because it is an industry that generates employment, technology and genuine industrial value.

PM – Is Turkish competition still a major factor?

GO – Very much so. Turkish shipyards are highly competitive on labour costs, which forces us to maintain very high standards in order to remain competitive. It is not a battle that can be won on price. It is won through quality, process control and the ability to build long-term relationships with yacht owners.

PM – Let’s talk about sustainability. How much real interest is there in hybrid propulsion beyond the marketing messages?

GO – There is interest, but we need to remain pragmatic. Today around 25% of our yachts use hybrid systems. The next two yachts we will launch in the coming months are both hybrid, although, to be honest, that is more of a coincidence than evidence of a consolidated trend.

PM – So hybrid propulsion has not yet become mainstream.

GO – No, and there are practical reasons for that. The propulsion package alone can cost around 30% more than a conventional solution. These systems are sophisticated and highly dependent on electronics, requiring engineering crews with specialised expertise—not only mechanical but also electronic. Those professionals are difficult to find today. There is also a reputational risk: if an owner experiences problems during a cruise with a hybrid system, they may lose confidence in the technology and return to more traditional solutions for their next yacht.

PM – Yet there is still a group of owners who genuinely believe in it.

GO – Absolutely. They are typically owners with technical or engineering backgrounds—people who want to understand exactly how the system works and who see technologies such as shaft generators as offering real operational advantages. It is a small but knowledgeable segment.

PM – Why does an owner choose Tankoa today?

GO – Mainly because of the human relationship. We are a family-owned company and when an owner comes to us, they deal directly with ownership and management. Decisions are made quickly and customisation requests are discussed immediately without layers of intermediaries. Many owners appreciate this ability to make them feel heard—and in a business where the investments involved are significant, that matters more than people sometimes realise.

PM – One final question: OTAM. You now own both the brand and the facilities. When and how will the relaunch happen?

GO – We are evaluating several options and will need to develop a dedicated business plan. At the moment, however, we already have a great deal on our plate: redevelopment projects, new construction and existing clients. We prefer to take the necessary time rather than move too quickly and make mistakes. The OTAM customer is a very particular type of owner—almost a racing enthusiast, somewhat comparable to Porsche customers. When we restart, we want to do it properly, with a clear vision and without interruptions. The smaller yacht market is not particularly easy at the moment, which gives us even more reason not to rush.