Alberto Amico: "We're now refitting even 140-meter yachts."

Genoa - On the sidelines of the presentation of the Amico & Co. shipyard's first sustainability report, Alberto Amico, the top management at SUPER YACHT 24, took stock of his company's latest developments and the near future of refits in Italy and the Ligurian capital.

During the presentation of the report, you mentioned that your shipyard currently builds pleasure boats longer than 100 meters: is this a new market where you aim to grow in the future? 

The shipyard started out working on 20-40 meter boats, and has now expanded to 130-140 meters. The market is certainly growing; yachts over 60-70 meters, which were just a few dozen up until 5-6 years ago, are now starting to make up a significant number. Our competitors are obviously also growing in terms of infrastructure, but it's a race reserved for a few globally renowned companies.

The other important aspect is that Genoa, Liguria, and Italy certainly have significant potential assets in terms of professional human resources. This is something that still exists in Genoa and Liguria and must be preserved, while in other nations and regions of the world this capacity for professionalism and quality manufacturing, which is a bit of an Italian hallmark, doesn't exist, and therefore, we must focus on this too."

You also discussed the future Port Master Plan for Genoa and the related industries generated by the yachting sector: what prospects do you think there are for actually obtaining more space for the nautical industry?

“If there is one sector in the port of Genoa that deserves to be allocated more space and infrastructure for the convenience of the city, the nautical industry should have the most of it.

We certainly hope that the Waterfront development will lead to improvements, at least in the surrounding conditions. From an area perspective, it's difficult to find new space in the eastern areas. The new dam could free up new space provided the old entrance channel is resized—an initiative proposed, for example, by Confindustria—but everything depends on how the new dam project is developed and refined. Otherwise, beyond that, it's a matter of continuing to make the best possible use of the existing areas.

As Amico & Co., are you also considering acquiring other shipyards or expanding your business by taking over other facilities in Italy or abroad? 

We already have a second shipyard in Loano, which is strategic because it's closer to France, which is also a major hub for marine resources. It's not easy to consider duplicating a facility like this because, first and foremost, it would obviously double costs. However, let's say that every now and then we reach saturation point, but we try to prioritize quality over growth at all costs. So, for now, we're still focused on improving efficiency and quality.

While there's a slight slowdown in demand for new superyacht orders, is the refit market still holding up?

"Refits are gaining momentum worldwide, but unfortunately in Italy we're having a disastrous crew situation. We're still getting cancellations from boats that would like to come, or have already come, and are giving up on returning in October precisely because it's impossible to rotate crews on board due to immigration regulations.
This is a negative element that puts us at a disadvantage compared to our main competitors in France and Spain.

The other element is the loss of the Russian market, which was inevitable, but was reabsorbed by the ability to find other markets.”

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First Sustainability Report published by the Amico & Co. shipyard.