A snapshot of the Italian new build market

2nd March 2023
One of the most active superyacht building nations, Italy’s shipyards are pioneers in anticipating and spearheading new build market trends. With Italian shipyards busier than ever, however, securing a new build slot can be challenging. To find out about the latest developments and opportunities within the market, members of the Camper & Nicholsons sales team recently toured the most prominent builders in the country.

The Italian new build market is booming, accounting for 47.6 per cent of global superyacht production in the 2023 global order book. Always wanting to keep their finger on the pulse, Camper & Nicholsons sales managers and advisors recently visited the most prominent shipyards in the country to find out about their capacity and latest developments.

Sanlorenzo has been one of the most successful builders in recent years thanks to its recently increased build capacity and desirable product range. The builder currently has around 30 yachts over 40m in build for delivery over the next four years. According to Thomas O’Nial, sales manager at Camper & Nicholsons, innovative designs have been one of the main drivers of Sanlorenzo’s success.

“The 44Alloy features a mezzanine loft in the master cabin that spans over three levels, the 44m X-Space has an ultra-private master cabin on the upper deck, and the 64Steel model has the same volume and features of a 70m+ yacht,” comments O’Nial. “Sanlorenzo’s design and R&D departments are driving new product development and are very good at anticipating the desires of the market.”

With a turnover of €1.2 billion in 2022 and a promise to invest €130 million into the business over the next four years, Azimut Benetti is another thriving Italian builder. “Azimut Benetti’s resilience comes down to its extensive product range, which spans from 12m to 110m across the group,” explains Maël Fiolet, sales advisor at Camper & Nicholsons.

Benetti is currently reporting delivery times between mid-2025 and mid-2027 for certain models. While Benetti has not delivered a 70m-plus yacht since 2020, Fiolet reports that the shipyard is still interested in building yachts in this larger size range.

Baglietto remains a boutique shipyard, delivering no more than five projects per year. Having visited the shipyard, Benjamin Bensahel, sales manager at Camper & Nicholsons, can report that the builder currently has 21 yachts under construction and is offering hybrid propulsion systems on all its models.

“Baglietto has experienced interesting growth, especially with its DOM Line by Stefano Vafiadis Design and its TLine by Francesco Paszkowski Design – there are already eight hulls sold for both lines,” says Bensahel. “The next DOM 133 available is set for delivery in May 2025 and both the T52 and T60 are set for delivery in May 2026.”

While most Italian shipyards are focused on series or semi-custom production, Tankoa Yachts is open to 45m-plus custom projects. “The shipyard also has 45m and 55m Sportiva models available for delivery from summer 2025 onwards with traditional or hybrid propulsion,” adds Jessica Ruez, sales advisor at Camper & Nicholsons.

The Italian Sea Group currently has 19 projects over 30m in build, as well as the Lamborghini line at Tecnomar. The Camper & Nicholsons team were given a glimpse of the shipyard’s new sheds for the construction of yachts up to 100m in length, as well as insight into some interesting projects in the pipeline.

“Admiral has started to build the first 50m Panorama model on spec, which is available with delivery for summer 2025,” advises Daniela Duck, new build division coordinator at Camper & Nicholsons. “The group also revealed the rebirth of the newly acquired Picchiotti brand with the launch of a vintage line ranging from 24m to 55m penned by Luca Dini, as well as a collaboration with Malcolm Mckeon to restyle the classic lines of Perini Navi.”

The final shipyard visited was the Overmarine Group, which reported the overriding popularity of its displacement hulls, particularly the Mangusta Oceano 44. The shipyard has no availability for delivery before 2024. “Historically renowned as a builder of large sports yachts, Overmarine has successfully navigated the market with the Oceano line, whilst perpetuating their DNA with a restyled Maxi Open line,” comments  Rodrigo Nicholson.

As a general trend, the Camper & Nicholsons sales team noted that all shipyards are particularly interested in building series and semi-custom yachts with customised interior designs, even in the larger size segments. This is likely in response to increasingly younger buyers entering the market who are demanding shorter wait times whilst valuing comprehensive personalisation.

As leaders in the new build market, Italian shipyards are showing no signs of slowing down, with healthy order books and ongoing innovation and investment. With their fingers firmly on the pulse, the Camper & Nicholsons sales team are always on hand to share their unrivalled insight into the latest market trends and developments with clients.