ICOMIA has now published its second annual report on the large yacht refit market. The data is sourced from a survey of ICOMIA Superyacht Refit Group (ISYRG) members and supported by AIS data. ISYRG represents approximately 40% of global refit projects, consisting of 12 shipyards. All ICOMIA shipyards adhere to a code of practice which ensures the highest quality of refit and repairs.
The data is collected over the period of 31 August – 1
September each year, and we now have data for the years 2017/18 and
2018/19. Although currently a short time frame, ICOMIA will continue to
collect this data each year so that trends in the industry can be
tracked.
Total refit turnover in 2018-2019 equalled 395.7
million euros, a ten per cent increase on last year’s figures. The
number of refits increased by 4.7%, totalling 1136. The average refit
value was 576, 870 euros, a substantial increase from last year’s figure
of 331, 564 euros.
For the yards represented, the number of
refits was greatest in the 30-50m range, however, this is not reflected
in total turnover in this range. Over 75% of refit projects were
technical, around 13% were paint works and just under 10% were interior
works. Technical works include, among other things, logistics; special
surveys; electronics and machinery and equipment services.
The
survey also covered other important aspects such as project duration,
activity by region and top shipyards, as well as a further breakdown of
the above. Tracking refit activity on an annual basis will provide
useful insights for those working in the industry and beyond.
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