Some yacht builders in China have met with great success in the North American market. Tricon Marine anticipates joining that list, with a twist: It’s a few weeks away from becoming the first Chinese shipyard fully owned and operated by North American businesspeople.
Located near Zhuhai in the Guangdong province, Tricon broke ground on its half-million-square-foot yacht-building facility about one year ago. The goal was to start from scratch, so to speak, creating a new yard capable of constructing fully custom, all-fiberglass megayachts to 180 feet LOA. Competitive pricing was another priority, so Tricon has committed to limiting build slots to three yachts in simultaneous production for the next few years. At maximum capacity, however, it says it can build 16 yachts under cover (depending, of course, on LOA) and accommodate two more megayachts in the water.
Tricon’s first project, a 92-footer intended for long-range offshore use, similar to the 88-foot project pictured here, is presently under construction and will be launched the same day as the official shipyard opening ceremony this spring.
Despite the global economic crisis, Christos Livadas, Tricon’s chairman and CEO, and Dave Adams, Tricon’s vice president, say the timing is perfect. “We intend to put China on the map as a place for world-class yacht construction as never before,” Livadas explains. Adams adds, “Clients today want to know that they are getting the best value for their money inch by inch. Consumers are scrutinizing their lifestyle investments more than ever after some of the major financial mishaps of 2008. Tricon Marine is a feel-good experience.”
Livadas, a global-investment banker focused primarily on the manufacturing and energy sectors, met Adams in 1995, while Adams, an experienced fisherman and yacht broker, owned Premier Yacht & Ship (and is still associated with the brokerage). Livadas purchased three yachts from him and was impressed with his knowledge of both the industry and building in China. For each of the past seven years, Adams has spent about 100 days in China managing yacht projects at different yards.
Tricon currently has 120 employees and intends to grow its craftspeople total to 210 within the next year and a half. In addition, all specifications, contracts, and other documents are written in English for ease of communication.
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