PBIBS18: U.S. yacht industry works to retain refit projects

Mar 22, 2018 by Tom Serio

By Tom Serio

With new yacht orders on the decline worldwide, many builders are turning to other services, such as refits, to stay competitive and in business, according to organizers of the U.S. Superyacht Association (USSA). And European builders are already making the transformation, with the potential of taking major refit projects away from U.S.-based yards.

USSA hosted its second annual Refit Roundtable yesterday, the day after its 5th annual Superyacht Summit in West Palm Beach, Florida. The initiative, titled Refit America 2.0, is to find ways to enhance the marketing and awareness of U.S builders, yards and vendors for all levels of yacht refits.

Attended by 30 industry professionals representing builders, yacht yards, refit project managers, suppliers, and others from across the U.S., it was evident that the concern is nationwide and will need an all-hands approach, from the Pacific Northwest to South Florida, and operations in between, to tackle the issue and create a unified solution.

USSA President Kitty McGowen spearheaded the conversations, showing why Refit America 2.0 has to be an action campaign, with a simple but effective message base, promoting the U.S. as a destination for yacht refit. Having identified a number of strengths, weaknesses, opportunities and threats (including efficiencies, marketing, healthy industry and tariffs, respectively), the group identified those that are important to them and which should be acted on. A high-level marketing approach was identified, as was the need for funding and management of the initiative.

A committee was formed to carry on the next steps of fundraising, creating marketing materials and determining a timeline of implementation. Watch for updates on the initiative at www.ussuperyacht.com.

Capt. Tom Serio is a freelance captain, writer and photographer in South Florida. Comments on this story are welcome below.

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