A Snapshot of the Global Superyacht Order Book
The global superyacht order book is up in 2019 with an additional 57 projects underway compared to a year ago. Of vessels measuring at least 24 meters, 830 superyachts are either under construction or on order with hull numbers around the world. While the average length per vessel is shorter compared to last year, the total length of the projects underway is up 3.7% over the previous year.
As can be seen in the below chart, global production has reached its highest since the financial crisis of 2008-2009.
With respect to the various size categories of vessels under production, the smallest category of vessels in the 24-27 meter range saw the largest increase from 2018 to 2019 (from 182 projects to 228).
Where are the superyachts being built? Italy continues to lead the way with 379 projects and 135,434 in gross tonnage. Netherlands comes in behind Italy with respect to gross tonnage, followed by Germany. Germany, with its 16 projects, has a far higher average gross tonnage per vessel compared to Italy and Netherlands.
The usual suspects remain atop the list of top superyacht builders by length. Note that while Azimut-Benetti’s and Ferretti Group’s numbers include projects across their respective families of brands, Sanlorenzo is the busiest single-brand yard on the list.
In 2019, an increasing volume of the global order book are yachts started on speculation. The number of projects started on speculation has increased from 335 in 2017 to 376 in 2019. Perhaps on a related note, the number of fully custom builds (with an owner from scratch) has been declining in recent years. It’s not surprising that in an increasingly strong superyacht market, builders are willing to start more hulls without owners.
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All data from Boatinternational.com.