July Press Release RMK MSDate: Thu, Jul 8, 2021
Surge in Refit Services Expected According to RMK Merrill-Stevens
An "unexpected increase in yacht and superyacht sales," according to RMK Merrill-Stevens North Project Manager Brent Allsop, may indicate an imminent surge in yacht and superyacht refit services over the next six to nine months. Yacht brokerage sales reached record highs in the first three months of the year, rising 46%. "It is fantastic that we are seeing a new generation of yacht owners, and this can only benefit the yacht maintenance and repair industry for the future," says Allsop. "However, in the short term, we are not seeing, at present, a huge uptake in repairs, maintenance, and refit," Allsop continues.
With leading superyacht builders seeing a rise in new sales, delivery of these vessels is expected to be delayed 2-4 years. Delays have led manufacturers to loan vessels to clients and first-time owners to purchase used vessels to get out on the water immediately. Brent states that new owners have been temporarily postponing work on their vessels. "New owners of the larger yachts are delaying the usual refits on their new acquisitions, only repairing the absolute essentials so they can travel and enjoy themselves safely."
According to Allsop, maintenance, service, and refitting for 90% of yachts and superyachts occurs between charter seasons. The South Florida charter season begins after the Fort Lauderdale International Boat Show (October 27-31) and ends as vessels return from the Caribbean in March. RMK Merrill-Stevens will exhibit at the FLIBS show and is now scheduling private meetings with owners and captains.
As boat season begins to wind down in the fall, refits, repairs, and maintenance are expected to reach all-time highs. "We know it (increase in service, refit, and maintenance) will come, but for the near future, the clients are enjoying their new vessels and the freedom to travel, that was curtailed by the pandemic," says Allsop.
Despite not yet seeing an instant increase in refits due to the rise in yacht sales in late 2020 and the first quarter of 2021, the RMK MS North Yard has been busy. The shipyard just recently wrapped up work on seven superyachts, including a 108' Mangusta, 145' Bloemsma Van Breemen, 154' Admiral, 158' Metal Shark, 171' Palmer Johnson, 194' Benetti, 197' Benetti, and a 203' Benetti.
RMK MS North is fully operational after massive renovations and upgrades. Among the upgrades is a 2,700LT shiplift built by Pearlson Shiplift Corporation, which is capable of lifting out power catamarans and superyachts with a keel-to-keel distance of 36'. The lift, which is the largest shiplift with a full keel capture in South Florida, has the capacity to haul out monohull vessels with an LOA of 225’, beam up to 54', and draft to 15'. The lift has received Lloyd's Register Certification and is in the process of obtaining USCG Certification.
The team at RMK MS North is also growing, having recently added new employees including Gilius Grutterink as Project Manager.
Learn more about the RMK Merrill-Stevens North Yard at https://www.rmkmerrill-stevens.com/north-yard.
To inquire about refit, maintenance, or service, start by requesting a quote at https://www.rmkmerrill-stevens.com/request-a-quote.
For more information about RMK Merrill-Stevens call 305-324-5211, or to learn more about RMK Merrill-Stevens’ world-renowned shipyard, visit www.rmkmerrill-stevens.com. Keep up with RMK MS on social media through Facebook, Twitter, Instagram, and LinkedIn.