Yachting Associations Luxury Yacht & Superyacht News

UIM Executive Committee meeting

September 30, 2014

Friday, September 19, 2014 was marked by the UIM Executive Committee meeting. This was hosted by the amazing and suggestive location of the new Yacht Club of Monaco.

UIM Executive Committee meeting

UIM Executive Committee meeting

Among the several points on the agenda, the UIM Executive Committee received an update on the actions taken by the Special Commissioner Thomas Kurth, following the departure of the former Secretary General.

President Chiulli and the members of the UIM Executive Committee took this opportunity to gather with the UIM Office Team in a pleasant and enjoyable atmosphere and thank them for their dedication and support in the accomplishment of UIM’s objectives.

A special thanking by President Chiulli and the UIM Executive Committee members goes to the team of the Yacht Club Monaco for their warm welcome and hospitality.

Dubai Maritime Week 2014 to feature a series of high-level activities and events

September 30, 2014

Dubai Maritime City Authority (DMCA), the government authority responsible for regulating, coordinating and supervising all aspects of Dubai’s maritime sector, has announced that it will organize a series of high-level activities and events during the upcoming Dubai Maritime Week 2014. This will take place next month under the patronage of H.H. Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council.

Amer Ali, Executive Director of DMCA, and Chris Hayman, Chairman of Seatrade Communications, with corporate identity of Dubai Maritime Week

Amer Ali, Executive Director of DMCA, and Chris Hayman, Chairman of Seatrade Communications, with corporate identity of Dubai Maritime Week

Dubai Maritime Week is poised to attract international maritime leaders, senior government officials, decision-makers, industry professionals, leading experts, and ship owners from the UAE and the region. It will be a platform for discussing the latest regional and international maritime trends and exploring the best industry practices to help promote sustainable development across Dubai’s maritime sector.

Amer Ali, Executive Director, Dubai Maritime City Authority, said: “The remarkable success of Dubai Maritime Week’s first edition held two years ago has inspired us to expand the agenda of the second edition under the theme of ‘Modernization and Inclusiveness.’ It will include a series of high-level events which will attract leading industry professionals and key decision-makers from all over the world to position Dubai among the leading international maritime hubs. We are positive that the set events and activities will serve as a key interactive platform to showcase the best promising opportunities across the local maritime cluster, which has the capabilities to compete with other global maritime and logistics centers.”

A key highlight of Dubai Maritime Week 2014 is the Dubai Maritime Summit. It is the first event in the region to discuss global maritime clustering and Dubai’s efforts to become a first-class international maritime hub, with particular focus on the latest worldwide industry developments.

“Dubai Maritime Summit follows the ultimate vision of positioning Dubai as a premier destination for maritime excellence and innovation. We are confident that it will serve as a key addition to the international events being hosted in Dubai. The participation of high-profile experts and industry professionals will undoubtedly contribute to establishing effective strategies aimed at developing local maritime cluster components capable of competing regionally and globally to create an integrated, secure and sustainable maritime environment that can respond effectively to rapid industry changes and emerging market trends,” Ali concluded.

The second edition of Dubai Maritime Week will also feature Seatrade Maritime Awards 2014 and Seatrade Middle East Maritime Exhibition (SMEM). SMEM 2014 will unveil the latest global maritime trends and services that will appeal to the industry because of great importance. In addition, DMCA will host a DMCA partners appreciation gathering to acknowledge the efforts of its public and private partners in supporting its plan for the emirate’s maritime sector.

First ever Monaco Yacht Show Awards

September 30, 2014

The Monaco Yacht Show represents the most prominent yachting event in the world. What higher acclaim is there than to be recognized by the show, the media, as well as the industry as one of the best of the best during the inaugural Monaco Yacht Show Awards.

Monaco Yacht Show Awards Ceremony

Monaco Yacht Show Awards Ceremony

Taking place at the brand-new Monaco Yacht Club the evening before the 24th edition of the show begins, the MYS Award ceremony welcomed the industry to cocktails, canapés and high hopes for such mantles as Best Interior, Best Exterior and Best in Show.

Given the high percentage of brand-new yachts launched in 2014 here at the show, each nomination was selected from the 40 new builds here at the show, and the inventory was nothing short of spectacular.

Among nominees were motor yacht Como, superyacht Entourage, mega yacht Equanimity, super yacht Grace E, Polaris yacht or mega yacht Solandge.

46m motor yacht COMO by Feadship

46m motor yacht COMO by Feadship

The ceremony began with Gaelle Tallarida, show Managing Director, welcoming the industry representatives to the 24th edition of the Monaco Yacht Show, a short speech from the Minister and an honourable award which was given to the new construction project Yersin – built by a resident Monaco owner. Yersin will be used for the scientific and environmental researches led by the A.S.E. project (Adventure – Science – Education).

After this it was time for the Best Interior, which was given to the brand-new Perini Navi motor yacht Grace E. This 73 metre yacht was built from Perini Navi’s Picchiotti range and features close collaboration with Remi Tessier.

73m Vitruvius mega yacht Grace E

73m Vitruvius mega yacht Grace E

The Best Exterior was given to superyacht Solandge, an 85.5m Lurssen motor yacht with subtle lines and an unforgettable profile by Espen Oeino.

However, after these two prestigious awards were given – it was time to learn of the Best in Show. This award for the best overall yacht launched within the last two years at the show went to the brand-new 91.5 metre superyacht Equanimity – built by the revered Oceanco yard.

85m Lurssen mega yacht Solandge - Photo by Klaus Jordan

85m Lurssen mega yacht Solandge - Photo by Klaus Jordan

The ceremony ended with the RINA Green Plus Yacht Award given to the M/Y Entourage, for her construction respectful of the environmental standards set by the Italian classification company RINA.

The 24th edition of the show has shown clear signs of the exhibit’s evolution, and for a shipyard or designer to be given even further recognition by this institution is a clear victory for those involved.

New Hainan Rendez-Vous 2015 planning unveiled at Monaco Yacht Show 2014

September 29, 2014

The prestigious Monaco Yacht Show represents one of the three biggest European yacht exhibitions. Its 24th annual exhibition was launched at Port Hercules on September 24, 2014. Monaco Yacht Show, with its amazing yacht cast as well as comprehensive maritime equipment, has become an industry expert, a sought-after and yearly festival of yacht fans. According to the field reporter, Hainan Rendez-vous Exhibition Co., Ltd., representing the pioneer of China luxury lifestyle, hosted the global press conference of 2015 Hainan Rendez-vous Luxury Lifestyle Exhibition on the afternoon of September 25.

Monaco Yacht Show 2014

Monaco Yacht Show 2014

Hainan Rendez-vous Exhibition Co., Ltd., the host of HainanRendez-vous, together with the reciprocal club of Visun Royal Yacht Club—Montenegro Yacht Club, Superyachts.com, and representatives of 2015 Hainan Rendez-vous Italy Pavilion participated in this press conference. Nearly 60 distinguished business guests were present and communicated with the host pleasantly on the scene.

Reporters found on the scene that themes of “2015 Rendez-vous luxury Lifestyle Exhibition” are “dream, art, and life”. They plan to create the social and cultural feast based on the taste of “dreamers, artists, lifestyles”. Therefore Hainan Rendez-vous can attract more super yacht businesses and international luxury brands to enter because the exhibition is the most convenient way to find potential customers in China. We will invite the international famous art masters to visit and share the artistic creation. And in the luncheon party, the super yacht agents will communicate with each other about the scarce yacht economy and market charm. At the same time, Hainan Rendez-Vous will take more enterprise social responsibilities on respecting marine culture, advocating marine welfare and promoting marine industries.

In addition, during the 2015 Hainan Rendez-vous Noble Lifestyle Exhibition, they will launch a publicity theme campaign “Salute to the Ocean” to advocate the marine concepts of public welfare.

It is said that Italy Pavilion will overall undertake the high-end pavilion of 2015 Hainan Rendez-vous, and undertake the interior design and the investment of it. The Pavilion will show several world-famous Italian brands that represent the Italian excellence in fashion, including furniture, food & wine. Moreover, the Italian Pavilion aims at introducing to the Chinese market the Italian luxury products and, at the same time, promote the discovery of the Italian territory and the value of its unique and inimitable culture.

New Superyacht UK research shows industry value and jobs growth

September 29, 2014

As the UK economy is navigating calmer waters, the British superyacht sector is racing ahead, with 69% of members responding to the Superyacht UK survey rating prospects for the next 12 months as good or excellent. The forecast represents the most positive outlook for UK-based superyacht manufacturing as well as supply for seven years.

46m superyacht Christopher by Pendennis on the Thames

46m superyacht Christopher by Pendennis on the Thames - Copyright onEdition 2014

The value of the UK superyacht industry has grown to £492 million in 2013/14, a 7.1% increase from 2012/13. Research results were launched on September 24, as global visitors travel to watch British companies showcase their best at this year’s Monaco Yacht Show.

Whilst last year’s headlines reported an increase in refit, this year, it is new builds that are driving the improved results with 57% of superyacht revenues from new orders. Overall, 59% of respondents experienced a higher workload over the last 12 months compared to the same period a year ago.

Greater levels of demand are also translating into more jobs. Statistics show that just under 3,700 full time employees have been working in the sector during 2013/14 which has grown 4.1% from previous year. 30% of companies have increased their workforce, creating a net positive balance in employment across the sector of +24% this year compared to 17% in 2012/13.

The British Marine Federation and its association, Superyacht UK, together promote the industry as more and more buyers and companies are looking to the UK as their preferred location for boat builders and suppliers. UK has long since led the way with regards to professional services in the superyacht industry, with its highly competitive and mature legal, insurance and financial services expertise in the sector.  Over the years, we are seeing other areas such as design, engineering and training in the UK gain global recognition.

Mike Carr, Chairman of Superyacht UK and Joint MD of Pendennis Shipyard, said: “We are delighted to see the UK superyacht sector going from strength to strength, as demand for UK builders and suppliers and talent continues to grow. Its success is testament to our long standing heritage in the superyacht sector combined with the breadth of areas which that the UK has continued to excel, from engineering; to legal services; to design.”

Tom Chant, International Development Manager, Superyacht UK, said: “This year, British companies represented at Monaco Yacht Show will continue to gain visitor attraction. When people think of the Monaco Yacht Show they think of the ultimate wealth and luxury, but what the British superyacht industry also brings is a legacy of innovation and excellence across the industry.”

Research Results:

•             Most positive outlook for UK based superyacht manufacturing and supply for 7 years

•             New figures show value of the UK superyacht industry grown by 7.1%

•             Profits have risen for 43% of respondents

•             48% now rate their revenue as higher than the previous year

•             Over 50% reported a higher value order book

•             30% of companies increased their workforce

OneOcean Club in Barcelona to launch in November 2014

September 26, 2014

OneOcean is an expertly curated collection of six star services, destinations, as well as superyacht marinas in some of the world’s most beautiful locations. Its very first destination, OneOcean Club in Barcelona, will launch in November 2014. It will be an exclusive private members club available to yacht owners, their guests, captains, crew and residents, as well as business owners of the city.

OneOcean Club in Barcelona to launch in November 2014

OneOcean Club in Barcelona to launch in November 2014

Taking inspiration from the existing natural and urban landscape the striking OneOcean Club is designed to reflect the rounded geometry of the hull of a yacht. Exclusively designed for Marina Port Vell by architects Sergi Carulla and Oscar Blasco (SCOB) and manufactured by Catalonian company Escofet, the white concrete lattice that surrounds the building reflects the light structures that Port Vell fisherman erect whilst repairing fishing nets.

The first OneOcean Club venue will offer a discreet alternative to rival the best of the Catalan capital’s 22 Michelin Star restaurants. Having honed his skills at an impressive roll call of Michelin Star establishments, from the pillar of French haute cuisine, Georges Blanc to Basque favourite, Arzak head chef Llorenc Valls will oversee the club’s 400 cover restaurant. Joining from his previous position as Executive Chef at the five star Mandarin Oriental in Barcelona, Catalan born Valls marries both his heritage and expertise to bring a fresh, creative take on classic Catalan cuisine to the OneOcean Club.

Main entrance restaurant

Main entrance restaurant

Catalan produce is highly sought after, and Vall personally sources the pick of the crop from nearby La Boqueria market to bring his menu to life.

Overlooking the historic Born quarter, the covered terrace area is the perfect spot for dining al fresco under the Mediterranean sunshine all year round, while the elegant cocktail bar offers a serene waterside space away from the bustle of the city.

Restaurant sign at night

Restaurant sign at night

As well as fine dining, OneOcean Club guests can also enjoy a host of first class complementary facilities recognised for their exceptional quality in The Gallery, a secondary newly built state of the art building on site at Marina Port Vell. These include a dedicated business centre with private meeting rooms, peaceful spa treatment rooms alongside a state of the art gym and sundeck complete with daybeds. Captains and crew are especially well catered for with their own lounge including a relaxation area and games room.

Bringing together one of Europe’s hottest up and coming chefs with a host of unrivalled lifestyle amenities, OneOcean Club offers a world-class home away from home in one of the finest oceanfront locations.

Queensland’s Marina Industry Held Back by State Government Inertia

September 23, 2014

Queensland (QLD) luxury yacht marinas are being held back from making a much more significant contribution to the State economy, as stated by Colin Bransgrove, Executive Officer of the Marina Industries Association (MIA).

Manly Boat Harbour in Queensland, Australia

Manly Boat Harbour in Queensland, Australia

“While QLD marinas have been optimistic about revenue growth the reality is they have not been investing in their businesses”.  His comments are founded on independent research commissioned by the MIA and supported by leaders in the industry.

The research was conducted by the Recreational Marine Research Centre, Michigan State University using industry data from the 2012/2013 financial year.  The data was collected from 163 of Australia’s 347 marinas.

Nationally 40% of marinas expected growth in gross revenues in the 2013/14 period with marinas in QLD (55%) and NSW (44%) the most optimistic. According to Marine Queensland General Manager Don Jones the projected optimism from QLD marinas has been tempered by on-going uncertainty around the matter of marina leases and lease payments.  “This uncertainty is having a significant and negative impact on the marina sector in the State” he said.

The data from the research relating to capital investment highlights that QLD has been suffering from the uncertainty around these issues for some time. During the survey period the ratio of capital expenditure to gross revenue was 16% for QLD marinas while the national average was 62%.  Furthermore only 9% of QLD marinas surveyed invested in new revenue producing facilities or services against at national average of 33% and only 9% of QLD marinas invested in new boat storage capacity against the national average of 27%. The average amount spent on new or improved environmental facilities or technologies at QLD marinas was $9,000. This was half the national average despite QLD marinas being the biggest in the country as measured by turnover and boat storage capacity.

MIA QLD Director Mike Harvey from Runaway Bay Marina said the data provides a clear indication that State government inertia has been holding back the marina industry. “It is ironic that QLD has the most registered recreational boats, the biggest marinas in the country and close to average boat occupancy. Yet we have a government that has been sitting on its hands and it has not sorted out the mess with three agencies meddling in the management and setting of marina lease charges. The State should be leading the country with marina investment as it is a clear competitive advantage and strongly linked to our vital tourism industry.”

The research indicated that across Australian marinas provide employment for approximately 19,000 people and generate gross revenues of $4.1 billion per annum. According to Colin Bransgrove the QLD marina industry has the most latent potential of any state to grow strongly and significantly boost employment in coastal communities. “It needs the State government take the shackles off industry and let it fulfill its potential” he said.

New Executive Secretary for Association of Yacht Support Services (AYSS)

September 23, 2014

The Association of Yacht Support Services (AYSS) is delighted to introduce Sara Grain as their new Executive Secretary. At the end of this month, Sara will be taking over the position from Jenny Shawcroft, who has been with the AYSS for the past six years.

AYSS Company Logo CMYK

Both are based in Hamble, the epicentre of yachting in the United Kingdom. Sara will meet a large number of the members at the AGM next week and help run the AYSS sponsored event MonacoNet on 23rd September.

The AYSS – Association of Yacht Support Services is a growing Worldwide Association of Superyacht Agents. The membership includes the most highly qualified Superyacht Agents in the world who between them are able to support Captain, Owners and Crew around the globe. AYSS membership is a sign of quality and the Association works to ensure that members offer the best quality of service possible to their Superyacht clients.

PSP Southampton Boat Show 2014 marked by strong sales

September 23, 2014

As the 2014 PSP Southampton Boat Show came to its end on Sunday, September 21, more than 112,000 people had enjoyed a real festival of boating. Exhibitors and visitors alike made the most of the improving economy and beautiful weather throughout the 10 days.

The PSP Southampton Boat Show 2014 Copyright onEdition 2014

The PSP Southampton Boat Show 2014 Copyright onEdition 2014

Strong sales have been reported throughout the whole duration of the Show, with the very first sale of a boat being made by 10.30am on the opening day.  Many companies reported equalling last year’s total sales by mid week this year.

Murray Ellis, Managing Director, National Boat Shows said: “The PSP Southampton Boat Show 2014 has been a great success. More than 10,000 visitors got out on the water, families enjoyed a ride on the Boat Show Eye and boaters bought everything from canoes to multi million pound yachts.  The weather has been glorious and spirits have been high, once again confirming the PSP Southampton Boat Show as one of the world’s leading boat shows .

“The Show kicked off in style on the first day with TV star Matt Baker arriving on board one of the Show’s star attractions, the tall ship Phoenix, accompanied by Iain Percy OBE and ambassadors from the Andrew Simpson Sailing Foundation.  We’ve been delighted to have the Foundation as the Show’s official charity and so pleased to be able to join in with the worldwide Bart’s Bash event on the Show’s final day.”

Luxury yachts on display at the 2014 PSP Southampton Boat Show

Luxury yachts on display at the 2014 PSP Southampton Boat Show Copyright onEdition 2014

Exhibitor quotes – success stories

Landau UK, Managing Director Ben Metcalfe: “We have found the show much more positive than last year and our new stand location has been excellent.  We met last year’s figures by day seven of the show and hope to bring up to £1.6m into the business over the full course of the event.  It’s a show we will continue to do. It’s very positive for the marine industry and it’s good for the local area. A contract to carry out maintenance and repair work to military boats, confirmed at Show, will result in taking on up to 19 new engineers and office staff.”

SeaSure Ltd, Managing Director Graham Brown: “It has been a cracking Show for us. We have some of the most expensive products with everything being custom made and of the highest quality, yet we have sold every model on display with orders for everything seen on our stand…This is our first time at PSP Southampton Boat Show and it has exceeded all our expectations. The level of interest, from both new and returning customers, for British hand-built products is high with visitors appreciating quality…With one of our main products (Shaefer Boom Furling) we have more enquires in the first two days than in the last two years…What is great about the Show is that visitors can appreciate quality by touching and seeing it in real life.”

PSP Southampton Boat Show 2014 a Huge Success

PSP Southampton Boat Show 2014 a Huge Success Copyright onEdition 2014

Flexisail, Richard Pierpoint: “It has been a positive Show for us and we are 50% up on last year. We have seen a resurrection in boating and exhibiting at PSP Southampton Boat Show is a great way to get us in front of the public. Exhibiting is such a valuable force of marketing as today people like to see the product. Being on the Marina means people can get onboard the boat and really imagine what it will be like to own it for themselves…PSP Southampton Boat Show and the London Boat Show are the only two Shows we do.”

IPC Media, Marketing Manager, Richard Shead: “It’s been an exceptionally good Show.  Subscriptions are up more than 30% across the titles, with Motor Boat & Yachting proving particularly strong.  It’s been great to see and meet a new audience, visitors have come to the Show as novices but clearly been so inspired they have gone home as readers.”

Bray Marine Sales Ltd, Dominic Smulders: “Extremely good Show and we are ahead in both leads and sales. Exhibiting at PSP Southampton Boat Show we have certainly had the most positive business we have had in the last five to six years.”

Fairline Boats, Commercial Director, Stuart McCullough: “Fairline has enjoyed another great Show in Southampton this year, with lots of enthusiasm for the brand. We have seen a steady stream of orders throughout the Show and our new 48ft range has continued to prove especially popular with visitors. Following on from a very successful Cannes Yachting Festival, we are delighted with the results we have seen. The PSP Southampton Boat Show is an important event for us and the beautiful weather has made being here especially enjoyable this year. We are now gearing up for the London Boat Show and looking forward to an exciting year ahead for Fairline.”

2014 PSP Southampton Boat Show

2014 PSP Southampton Boat Show Copyright onEdition 2014

MDL Marinas, Operations and Marketing Director, Dean Smith: “We have had a fantastic Show. Berthing enquiries are up 15% in comparison to last year, and we welcomed thousands of berth holders from our network of marinas to the Show. It has been a great platform for us to really explain the benefits of Freedom Berthing, which has seen significant interest and is gaining real traction. We have seen a higher number of enquiries specifically for this product with customers looking for increased added-value from their marina berthing.”

British Marine Federation – new business opportunities

The Show has once again been an important venue for the British Marine Federation. Fifty five apprentices were celebrated at the BMF’s graduation event, receiving their certificates from Sir Ben Ainslie; eight MPs visited members from their constituency at the Show with Penny Mordaunt MP (Portsmouth North) – Parliamentary Under Secretary of State for Communities and Local Government (Coastal Communities Minister) also attending the event; and 400 meetings took place at the BMF’s Meet the Buyer event enabling new business opportunities.

Hayley James, Head of Member Relations at British Marine Federation: “From a membership perspective the PSP Southampton Boat Show has been fantastic, we’ve signed up double the number of members we did last year and we’ve got some great leads to follow up on. But the Show isn’t just a recruitment drive for the BMF, it is a chance to meet existing members and build relationships to ultimately deliver better value to our strong membership of over 1550. It’s one of the best Trade Shows in the world, within a Consumer Show.”

London Boat Show – Beneteau signs up

Following the launch of 2015 Show and its new creative with its dramatic imagery, exhibitors are quickly signing up to take space at the world-class event.  Beneteau, with its sailing yachts and outboard and inboard boats, is leading the way after a three-year absence.

Jean Francois Lair, Beneteau Export Manager, says: “Over the last 10 days at Southampton, we have clearly noticed an uplift in the market. The sales figures are up, and all our dealers are reporting a stronger interest compared to last year.  In this improved market, we are pleased to announce that Beneteau will return to the London Boat Show in January 2015.  We will be strongly represented with all our different products: sailing yachts, outboard and inboard boats, including the MC5, 2014 European Boat of the Year.”

The 2015 London Boat Show takes place from 9-18 January at ExCeL London.

British Marine Federation’s apprentices awarded by Sir Ben Ainslie at PSP Southampton Boat Show

September 19, 2014

September 16, 2014, saw the gold medal winning Olympian, Sir Ben Ainslie, celebrate the British Marine Federation’s Apprentice award scheme at the PSP Southampton Boat Show. Fifty five graduating apprentices from all areas of the marine industry were presented with their awards by the America’s Cup sailor.

Sir Ben Ainslie at the Apprentice Awards Ceremony at the PSP Southampton Boat Show 2014

Sir Ben Ainslie at the Apprentice Awards Ceremony at the PSP Southampton Boat Show 2014 Copyright onEdition 2014

The British Marine Federation (BMF) Apprenticeship Graduation is now in its fourth year, rewarding apprentices in roles varying from marine engineers’ right through to riggers and carpenters; recognising the diversity of accessible skills and careers in the marine industry.

The BMF has been working with companies to support marine apprentices for a number of years to ensure that the industry, bringing £2.9 billion worth of turnover to the UK economy and employing 30,635 people, continues to thrive.

News that Sir Ben Ainslie has had a £7.5 million government grant to boost the marine industry by training apprentices, as part of his current bid for a British America’s Cup team, makes this year’s BMF graduation event its most exciting.

The marine industry has led the way in introducing apprentices into their business. Over many years some of the biggest names in the marine sector have run successful apprenticeship schemes in a bid to develop their future workforce, including:

•             Yacht building company, Green Marine, with an apprentice scheme running for over 20 years, where apprentices or ex-apprentices make up at least 10% of the entire workforce. One former graduate is Jason Carrington, world renowned sailor and build manager.

•             Builder of superyachts, Pendennis, has been taking on apprentices for over 15 years and has trained over 150 apprentices. Just under one third of the current workforce started off their careers as apprentices;

•             Sunseeker International, UK builders of the world famous motor yacht has recognised the benefits of developing apprentices for over 35 years, training on average 70 apprentices annually.

Sir Ben Ainslie, who presented the certificates to the apprentices, was keen to be involved in rewarding the students for their hard work, innovation and the value they bring to the future of the marine industry.

Sir Ben Ainslie, BAR Team Principal and four-time Olympic gold medallist, comments: “Apprenticeships and training schemes are vital to encourage participation in not only the sport of sailing, but in all areas of the marine industry. To maintain the high quality and success of UK services in the marine sector that we currently hold, we must invest and commit to developing the talent of the future.”

Howard Pridding, Chief Executive of British Marine Federation comments: “The success and commitment that the marine sector has to solid apprenticeships, with real long term gains, is simply outstanding. The Apprenticeship Graduation event is an important way of both recognising and showing our appreciation to the students and companies investing in the future of the industry.”

Secretary of State for Business, Vince Cable, said: “This Apprenticeship Graduation rightly recognises the achievements of the future generation of boat builders and marine engineers. Apprenticeships offer young people the chance to reach their potential, while giving employers in the marine industry the skilled workforce they need to grow and compete. “Investment in Sir Ben Ainslie’s American Cup project will create new jobs, apprenticeships and opportunities for young people looking to work in this important sector.”