PIONEERS IN STABILISATION cmcmarine.com YACHT LINE SUPERYACHT LINE MEGAYACHT LINE REFIT LINE FULL ELECTRIC RANGE THRUSTERS STABILISERSRUDDERS FOR THE MARINE TRADE | MAY 2026 | ISSUE 20 marineindnews.com Join 17,000+ marine trade professionals worldwide Subscribe to MIN’s free daily news Haven Knox-Johnston Commercial is a trading name of Howden UK Brokers Limited, which is authorised and regulated by the Financial Conduct Authority No. 307663. Registered in England and Wales under company registration number 02831010. Registered Office: One Creechurch Place, London, EC3A 5AF. Calls may be monitored and recorded for quality assurance purposes Call 01905 930 760 Email Hello@HavenKJCommercial.com Web HavenKJCommercial.com Marine trade insurance, expertly navigated Marine trade experts: Decades of experience and deep industry knowledge. Tailored policies: Only pay for the coverage your business truly needs. Comprehensive protection: Covering assets, employees, and customers. Benchmark Review Report: Free 10-minute risk health check. Let’s talk... “Every bit as good and pleasant as you could hopefully expect. Excellent and appreciated interaction and advice from an informed and friendly voice”marineindnews.com | 3 25 Glide, ride, repeat The latest luxury toys and tenders. 07 Unlocking the UK’s superyacht potential Can a coordinated strategy leverage millions in annual revenue? 10 The race for refits How the Balearic Islands are tackling the competition in the refit sector head on. 15 Innovation and integration at sea Family owned CMC Marine on agility and experience in the superyacht market. 18 The gender pay gap laid bare New data reveals persistent pay gaps, sexism and exclusion. 04 Setting a new course A year after acquisition, Fairline discusses its disciplined path to profitability and growth. CONTENTS 29 Aussie rules Australia’s Muir Anchoring Systems is seeking to put differentiation over distance as it scales up. MIN Units SF1-2 Endeavour Quay Mumby Road Gosport PO12 1AH UK | www.marineindnews.com | © Marine Industry News Ltd (MIN) Next issue distributed at Cannes Yachting Festival, Southampton Boat Show, Genoa Boat Show, Monaco Yacht Show and IBEX Contact: mike@maa.agency or production@marineindustrynews.co.uk to book ad space. Advertising deadline – 16 July 2026. EDITORIAL MIN daily news, website & magazine Editor – Chantal Haines chantal@maa.agency Managing editor – Zella Compton info@marineindustrynews.co.uk PUBLISHER/ADVERTISING Mike Shepherd mike@maa.agency Italy, Admarex. Tel: +39 010 5954749 info@admarex.com DESIGN AND ARTWORK Steve Davies. steve@maa.agency Printed by Stanbury Chameleon on Carbon Balanced Paper, endorsed by the World Land Trust Editor’s welcome For an industry used to broad cyclical patterns, 2026 is proving anything but typical. While many companies had entered a phase of consolidation in 2025, multiple factors are now making contingency planning essential and forward visibility increasingly limited. As MIN goes to press, the US-Israel conflict in the Middle East is ongoing. We hope for a swift, stable resolution and that calm and safety return to those impacted. Although the marine sector is not directly exposed in all cases, the potential knock-on effects – from energy price volatility to shipping disruption and insurance costs – are already in play. Yet, if recent years have demonstrated anything, it is the marine sector’s capacity to adapt under pressure. This issue highlights a range of stories from across the sector. Fairline’s co-CEO Oliver Southwell discusses how the British boatbuilder is navigating a period of reset and recalibration on page 4. MIN examines the strength of the refit market and the Balearics’ continued dominance in this segment on page 10, while Tim Mayer explores how the UK can better position itself as a competitive superyacht hub on page 7. Readers can also delve into interviews with CMC Marine on page 15, and Muir Anchoring Systems on page 29. The MIN team looks forward to seeing readers at Palma International Boat Show, the South Coast & Green Tech Boat Show, and the British Motor Yacht Show in the UK this spring. Page 25Page 4Page 184 | MARINE INDUSTRY NEWS | ISSUE 20 | MAY 2026 INTERVIEW Following acquisition by Bronzewood Capital in April 2025, Fairline faces the challenge of rebuilding its dealer network and confidence. The acquisition thesis rested on Fairline’s strong brand equity, customer loyalty, and the ability to bring models quickly to market from the Fairline manufacturing site in Oundle, UK. Joint CEO Oliver Southwell says: “We felt the brand loyalty was so strong and while there’s no denying the industry is currently in a dip, we were quite confident that even with the industry at its lowest ebb we could get to a point where the company could actually still remain profitable if we pulled the right levers.” The boatbuilder now trades as Fairline across Europe and the rest of the world, and as Fairline Yachts in the United States. Dealer upset At the time of acquisition, Fairline’s dealer network was “quite fractured” following months of turmoil for the company. “There were some very uncomfortable discussions that had to be had across our dealer network internally and our supplier base. And there’s no shying away from that. It’s a fact of life, but that’s not just specific to this transaction. “There’s always an element of ‘we’ve heard this all before’ but I think our commitment has been clear to see. We’ve been very transparent, A, with what we found when we took over the company and B, with how we’re trying to fix it. I think you can quite quickly lose respect if you’re not open and honest about the issues.” According to Southwell, Fairline has honoured all the deposits and warranties from the old company. New captains of the ship Southwell has no experience in the boating business world, but he says this gives him the benefit of a fresh perspective. “We’ve challenged the team in Oundle to think differently. We’ve banned the phrase, ‘this is how we’ve always done it’, because that’s what’s caused Fairline’s new backers confront dealer fractures, supply chain pressures and a softer market Setting a new course Targa 47 Openmarineindnews.com | 5 issues in the past. It’s time to rip up the playbook.” Dealer network rationalisation Fairline of old operated from a three-tier dealer network model. “Previously, you had a master dealer, a regular dealer and a subdealer but the subdealer wasn’t contracted to the factory directly,” explains Southwell. “Let’s not forget that ten years ago, the volumes for Fairline were much higher than what’s being produced now, particularly with today’s softer market. So, we had a dealer network that was perhaps too big for our production.” Subsequently, Fairline has removed most of its sub dealers, or made them a direct link with the factory. “Just by nature of what’s happened, there’s been a slowing down of the dealer network, but that’s allowed us to push forward in a more aligned way,” he adds. The team has also brought suppliers and dealers closer through factory visits and open planning discussions to foster a relationship-centric model rather than transactional. “Helping them buy into what we’re trying to do has been key. In January alone I had four or five meetings with dealers on site, walking the line with them, talking to our design team, getting our warranty team to sit down with them, and that’s been a massive help in terms of making sure that nothing is lost in translation.” Achieving margin resilience Southwell is resolute that Fairline manufacturing will remain in the UK – the company has signed a new ten- year lease securing its home in Oundle with three dedicated units comprising 12,000 square metres of production space. A further 3,600 square metres in Ipswich is devoted to testing and commissioning. Southwell and the team have restructured how the business manages its supply chain, with a focus on improved forecasting, flexibility and working capital control. “What we found was that previously when the market demand shifted, Fairline wasn’t responding to that change quickly enough.” He continues: “Say you set out your production plan for the year with the target of 50 boats. You get to the end of Q2 and you’re only producing 40 boats that year, but you’ve still got 50 boats’ worth of parts arriving at the factory needing to be paid for, that’s not a particularly good place to be in.” Product roadmap Fairline is now operating on a seven-year plan for new model introductions. For 2026, the Targa range continues to form the backbone of the portfolio, including the Targa 40 and the new Targa 47 Open. The Targa 47 GT is due to be launched at Palm Beach International Boat Show, while the flagship Targa 58 GTO will be revealed at Cannes, Southampton and Fort Lauderdale later this year. Southwell confirms the current order book is complete for 2026 and growing for 2027. “In terms of the type of boat that we’re producing, we have to be cognisant of what the Fairline DNA is… We produce quality, luxury weekenders. We’re not here trying to reinvent the wheel,” says Southwell. With its order book filled for 2026 and a clearer production plan in place, Fairline is seeking to rebuild momentum cautiously. The real test will be whether the new structure proves resilient as market demand continues to fluctuate. Words: Chantal Haines INTERVIEW “There’s always an element of ‘we’ve heard this all before’ but I think our commitment has been clear to see.” Oliver Southwell Fairline Yachts Targa 40Targa 47 Oliver Southwell, Fairline Yachts Europe remains the primary market. Around 25 per cent of production is allocated to the United States.Targa 40marineindnews.com | 7 The UK could capture millions in additional superyacht revenue through coordinated, data-led collaboration – but fragmented industry representation is undermining its ability to convert traffic, secure funding and strengthen its global presence, says Tim Mayer, group sales director at Group 1851. Eight years have already been lost to duplicated activity, he adds. A missed intelligence opportunity Back in 2017, a Cool Route initiative was launched. European Union funding was used to promote yacht and superyacht cruising across north west Europe’s coastal waters. The programme identified 150,000 cruising vessels within two days’ sail of the route, worth an estimated €131 million annually to local businesses. Research behind the project highlighted that superyachts were – and are – actively seeking new cruising destinations and – on top of berths – need minimal additional infrastructure (landing pontoons, waste disposal, and recycling facilities). “The UK hasn’t responded as quickly as it could have done to this intelligence,” says Mayer. As a man who loves data, he calculates the UK has captured only a small share of the potential market. £10–15 million slipping through the net From January to November 2025, 289 superyachts passed through waters close to the south of England. Based on AIS and geo-tagged data, he’s calculated that UK marinas secured only a minimal share. The actual numbers may vary but it gives an overall picture. Ocean Village secured 31 visits, Gun Wharf Quays 35, and Port of Poole 26. “The data shows lots of overlap from vessels cruising between UK facilities. Although numbers are rising we are not really winning business from French and Mediterranean alternatives.” Meanwhile, 258 superyachts bypassed UK marinas, berthing in French ports or anchoring offshore, which represents £10- 15 million in lost annual revenue, says Mayer. He’s calling for a unified approach to make change. The sector doesn’t need more associations, he argues. “It needs clear objectives, shared data and coordinated action. Networking has its place, but it will not deliver the infrastructure investment, marketing and service improvements required to win market share. “Monthly drinks events do not constitute a coherent strategy.” Fragmentation causes problems Several organisations operate in the ‘representative’ space, including British Marine’s Superyacht UK (which Mayer recently joined), British Superyacht and the recently SUPERYACHTS Leviathan in Poole Harbour Image courtesy of Poole Harbour Commissioners Unlocking the UK’s superyacht potential Coordinated strategy, data-led marketing and marina collaboration could leverage £10–15m in annual revenue8 | MARINE INDUSTRY NEWS | ISSUE 20 | MAY 2026 formed Superyacht GB. Despite their commitment, and some highly skilled people, effort remains fragmented. “The associations must consolidate – sharing data, aligning messaging, pooling marketing resources and presenting a unified voice to government and investors. Fragmented advocacy weakens funding bids and dilutes the UK’s presence internationally. “It’s time to abandon the fragmented approach in favour of coordinated stakeholder action. Companies like MGMT Superyacht Agency are doing very well speaking directly to marinas and linking operators. We need to see this approach across the sector.” Consolidation as competitive advantage Mayer says the UK’s clear advantages must be highlighted. Post-Brexit rules allow non-UK flagged yachts significant VAT savings on yard work when the UK is their first port of call after leaving the EU – potentially saving hundreds of thousands of pounds on major refits. British yards provide high-quality refit and technical services, supported by experienced yacht management, provisioning and security specialists. Formal collaboration between marinas capable of housing 24-metre-plus vessels should be considered to deliver joint marketing – emphasising UK advantages such as VAT savings, refit and maintenance in water and ashore, London access and uncrowded cruising. Collaboration could coordinate berthing availability, share infrastructure requirements, cross-promote UK facilities as an integrated network, and establish unified service standards. This approach stops internal competition and presents the UK as a cohesive destination, mirroring successful French models. Mayer says he’s pleased that British Marine’s Superyacht UK is updating its ‘destination document’ and driving the UK agenda at more international boat shows. Clustering complementary services around major marinas also offers convenience. Mayer cites marinas co-locating technical services such as refit, engineering, and electronics with provisioning, chandlery, and crew facilities. Targeted upgrades – including high-capacity shore power, strong connectivity, discreet security and premium waste management – would significantly improve competitiveness without major reconstruction. He also cites the UK’s natural beauty, culture and uncrowded cruising grounds as additional advantages over the Mediterranean. “Owners expect an integrated offering,” he says. “That requires partnerships with luxury hotels, restaurants, and concierge services, alongside seamless transport links to airports and London. Developing relationships with sporting venues, cultural institutions, and more completes the package.” Post-Brexit VAT advantage But its more than working together and a marketing campaign. There needs to be consistent and coordinated lobbying. “Reducing bureaucratic complexity will improve the UK’s competitive position,” Mayer notes. “Streamlining customs and immigration for crew rotations removes friction from operations. Simplifying VAT and temporary admission for refit operations makes it easier to access post- Brexit advantages. Making environmental compliance straightforward and providing efficient shore pass arrangements demonstrates professionalism. Good administration reduces operational friction and improves the UK’s reputation whilst ensuring vessels can access financial benefits without excessive paperwork. The consolidated association approach should coordinate advocacy efforts to government agencies responsible for these procedures.” Unite – or lose market share While he concedes that these efforts are underway by the organisations already named, he says more coordination is needed – as well as better representation from more UK players at industry events like Monaco – and it all needs to be based on data. Mayer insists the sector must become data-driven; collecting traffic statistics, coordinating infrastructure planning, delivering unified marketing and presenting consolidated policy recommendations. Securing even one-third of the 258 bypassing yachts would significantly boost coastal economies, he says. “The question is whether UK associations and stakeholders will work together under a unified strategy or continue fragmenting efforts while competitors capture the market?” Words: Zella Compton SUPERYACHTS “Monthly drinks events do not constitute a coherent strategy.” Tim Mayer Group 1851 Superyacht at MDL’s Ocean Village Tim Mayer, Group 1851COMING SOON!Next >