With superyacht refit becoming a bigger part of yacht builders’ activity plus new dedicated facilities opening, owners and their representatives have more choices for service. The Future of Refit, a new three-day conference slated for next spring in Monaco, intends to help spotlight them.
Taking place from March 31 to April 2, the event is from the same organizer as the Monaco Yacht Show. Roundtable discussions and keynote addresses, along with workshops, will take place at the Grimaldi Forum. Simultaneously, refitted yachts will be on display at the nearby Monaco Yacht Club docks.
Informa Prestige, the producer of The Future of Refit, purposely chose springtime for the event. It’s “a moment in the superyacht calendar that is genuinely uncontested,” according to Toby Moore, Informa Prestige’s CEO. No other major events overlap it, for instance. Additionally, the timing coincides with owners of private and charter yachts turning their attention toward the Med season.
What’s more, “The owners, operators, and specialists who make up this market have, for far too long, had to conduct their most important professional conversations in the margins of events designed for other purposes,” Moore continues. “The Future of Refit addresses that unmet need directly.”
Industry data points to a large number of yachts requiring service and refit. A recent Superyacht Builders Association study reveals that upwards of 6,000 superyachts exceeding 98 feet (30 meters) are currently afloat. Classification societies require five- and 10-year surveys, during which yachts need to be hauled and inspected out of the water. Then add in refurbishments, extensions, and regular yard upkeep.
Furthermore, global environmental regulations are tightening, and superyachts are increasingly becoming technically complex. “Refit is no longer a secondary consideration within the superyacht industry,” Moore points out. “It is one of its defining economic realities.”
Informa Prestige intends to invite refit stakeholders to influence aspects of The Future of Refit. The organizers also intend to release further information on the program in the next several months, which might also include a website.
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