The Superyacht Forum thinks ahead by looking at sector strengths during strong programme

The Superyacht Forum thinks ahead by looking at sector strengths during strong programme
An audience of 700 key shipyard professionals, designers, yacht managers, brokers and ships captains discussed and considered the future of the sector during the informative and challenging second day sessions of The Superyacht Forum 2024 in Amsterdam.

The agenda covered a wide range of topics of critical importance, from the use of multi-fuels and advanced paint application techniques, to whether the industry should set its own emission standards and how it can learn from recent high-profile incidents.

The road towards 2050
The scene for the day was set by a keynote forum panel which considered the 3R model (reduce, remove, recycle) and how the superyacht industry will chart its course to a regenerative sector in 2050. Dr Vienna Eleuteri, initiator and vice chair of the Water Revolution Foundation (WRF), reminded delegates about developments emerging from COP29: “In his opening speech the UN Secretary General, António Guterres, stated that ‘ocean support is not charity, it's an investment. Climate action is not optional, it's an imperative.’ If COP29 has turned climate finance into ocean finance as a top priority, then that is good news because anything we do for the ocean has a multiplier effect.”

The panellists on this session were all part of a larger voluntary team of leaders who have been working with WRF on pathways towards 2050 for their respective business sectors. Speaking about her area of expertise Aino Grapin, CEO of Winch Design, explained: “Designers don’t yet have a roadmap to net zero and we are focused on reduction rather than removal currently, but we do have three building blocks –  to experiment and measure; to collaborate far more; and to establish a protocol and industry commitment.” Grapin went on to explain that the designers protocol is now available, having been created by several leading design firms and co-signed by many of the top yacht designers in the industry.

Roderick de Vries, Technical Director of the De Vries Group, outlined how Feadship’s pathway was to accelerate sustainability efforts ahead of mandated targets: “Our goal is to achieve net zero by 2030, much quicker than the IMO or the Green Deal by the EU. Why? The quicker we go, the less we must restore or to remove. If we make today’s vessels already green, we can then focus on refit yachts to meet whole industry goals by 2050.”

Feadship’s major changes include many significant improvements to its shoreside infrastructure. It has turned to green aluminium and steel at relatively minimal cost increase for ship construction. HVO and multi-fuel systems, diesel electric hybrid power, 3D printing and AI tools for creating smarter and lighter designs are all now commonplace.

de Vries suggested there are some barriers to overcome: “We need class and flag organisations to create appropriate regulations, the shipyard has to adapt its engineering and production processes and owners have to accept recycled products and be educated in how to make more sustainable choices, like slower service speeds.”

Anders Kurtén, CEO of Fraser Yachts, stated that his business has around 130 vessels under its direct management. He announced a new partnership with the WRF to encourage the owners and operators of these yachts to participate in the YETI (Yacht Environmental Transparency Index) programme: “We will always be in an advisory role. But having significantly better data allows us to give better advice to our clients.

“Our roadmap towards zero consists of four simple steps. The first one is switch to HVO, because that’s going to dramatically slash all emissions apart from particulates; the second is pressurise marinas to offer green shore power; the third is to encourage captains to go slightly slower; the fourth step is to continually educate captains and crew on circular and sustainable practices.”

M&A activity likely to be influential
One route for the industry to progress with new investment and to support the retention of its highly valued workforce is through mergers and acquisitions. In a much-anticipated session moderated by Superyacht Alliance Secretary General, Hein Velema, there was a positive feeling about a likely upsurge in M&A activity: “We see a good pipeline,” Tommaso Nastasi, a Partner at Deloitte Financial Advisory stated. “Given around 600 deals already concluded in the yachting sector in recent times, that is already big number. Activity has reduced since 2022, but the outlook is positive into 2025.”

Bruno Barago, Wise Equity’s Principal, agreed that inward investment was likely: “Interest in the industry should be even higher because there are fundamentals that forecast growth in the medium to long term such as the relatively low current penetration among potential customers and technology that is making it safer and easier to navigate a yacht.”

Chuck Cashman, CRO Executive VP, MarineMax, affirmed the positive benefits of inward investment and acquiring businesses: “We need more money and more smart people in our industry. If someone can come in and help us do better, that’s good for our industry.  We buy healthy businesses and gladly pay a multiple to expect a return. If you want your business to be acquired, then run it well and have the best people.”

Gearing up for the future
The importance of people and how they will change in the future were at the forefront of two important sessions towards the end of the day.

In their research-informed workshop, The University of Monaco’s Programme Director Annalisa Tarquini-Poli and Professor of Customer Experience Strategy and Management, Dr Phil Klaus, explained what the next generation of superyacht owners will want and how to reach them. “In 2030 we have the largest shift of wealth in human history, Klaus stated. “Money from the current generation moves to the next generation. And we're talking about trillion dollars.” The pair went on to explain how methods of engagement and expectations of newer generations would be like nothing the superyacht sector had ever experienced before.

It was a theme also picked up by The Superyacht Forum’s closing keynote speaker, Henry Coutinho-Mason, who challenged the audience to think about three themes: “What status stories does your yacht tell? Can you enable these guilt-free experiences? And which tech superpowers are you embracing?”

Coutinho-Mason encouraged delegates not to be overwhelmed by worrying about the future, but to focus on what they know they are good at now. “The world is moving faster than ever but at the heart of all these waves of change the yachting sector is a people business and that’s what you are brilliant at. Don’t be a futurist. Be a ‘now-ist’ You need to ask better questions about the futures you can create.”

Towards The Superyacht Forum 2025
In closing the forum, METSTRADE Director, Niels Klarenbeek, picked up on the now-ist theme, promising to build for the future from the lessons of this year: “We’ve been delighted at the high interest in this fully sold-out edition of The Superyacht Forum, which has been under our management for the first time. I’d like to thank all our partners, organisations and speakers who have supported this event so well. We are already working with the feedback we have received to enhance the programme for next year’s event, as well as expanding our Super Yacht Pavilion to accommodate demand. This will make Amsterdam the must-visit place to visit for the superyacht business in the city’s 750th anniversary.