Rosetti Marino enters yacht building
It seems like an odd decision to enter the yacht building market now.
Opinions on the state of the market are similar across the board: it is a buyer’s market. There are a lot of boats up for sale and buyers are not paying the premium they used to pre-2008.
Buyers are savvier now than before the economic crash and consider every aspect of the deal before committing to the perfect boat. Selling experiences are also crucial. Buyers want to be at the helm of the yacht, experiencing the sailing. Not many customers, aside from those in a few regions, are happy to just sit back and enjoy the sun.
This has not deterred Rosetti Marino, Italy’s second biggest commercial shipyard, from venturing into the market. The shipyard specialises in constructing offshore and onshore oil and gas vessels, tug boats and ferries – now it is opening up a yacht company.
Rosetti Superyachts aims to replicate its success in the commercial market, saying on its website that it aims to be a “leading” luxury superyacht builder.
The yachts that do well in the market are the one-of-a-kind ones that sell quickly and at a premium. Rosetti seems to be trying to do just this: “We build masterpieces” is emblazoned on its home page.
To lead such a bold venture, you need someone strong at the forefront of the company. Enter Fulvio Dodich, previously CEO of Ferretti and Sanlorenzo, who has been appointed chairman of Rosetti Superyachts.
Dodich’s view of the market is positive, and his vision of where Rosetti fits into it is that of a leading global shipyard.
“Our plan is to become globally known in the superyacht market,” said Dodich.
“We have an unbelieveable strength in our vessels that we are bringing to our superyachts[…] Whatever the level of luxury the customer wants, anything from a simple support vessel to an extremely high-end luxury yacht, we are able to provide it.”
Rosetti has spent a lot of this year preparing for its launch. One of the most important things when opening a new shipyard is to find your customers.
Dodich said: “We are examining three different ways of reaching new customers. One way is through the designer, the second way is through the dealers, and the other important way is through the brokers – they are of paramount importance in superyachts.”
The market is right
The ethos at Rosetti Superyachts seems to be to apply the expertise and practicality of its commercial ships to the superyacht platform. With buyers wanting to be more adventurous, Rosetti is desgining yachts that accommodate this, as well as offering an appealing Italian design.
“There is a huge demand for the type of yachts we are selling,” said Dodich.
“There is also an increasing wish from buyers to explore. Owners are looking to buy a yacht that can sail in Europe, but is also able to venture out to the Arctic Sea on expeditions. We can’t say that buyers will definitely go on these expeditions, but they now want the option.
“This is manageable for us. It is not hard for us to make an Ice Class 1,2 or 3 vessel as we have the ability at the shipyard, as long as we know the buyer wants this at the beginning. We can easily provide a yacht of their dreams and the ability to go to these places.
“In summary, the market is very good and there is an increasing demand for the motoryachts we are offering. However, we always need to be ready to face a decrease in demand in the market.
“You have to be prudent but, at the same time, realise that the market is good.”
When asked about what Rosetti Yachts looks to achieve over the next five years, Dodich said: “We are already making large investments this and next year so we can have a positive balance sheet on the second year of activity.
“This is possible as we already have a very strong shipyard and production facility. We have 250,000 square metres of shipyard in Ravenna and 64,000 people there are educated in shipbuilding. This is all supporting our business plan.
“This should allow us to reach the financial figures we are hoping for. I think we will exceed this goal.”
The full interview with Dodich will be coming soon to Superyacht Investor.