Leading Australian luxury motor yacht manufacturer, Maritimo, has had an incredibly dynamic 2022. Significant milestones were achieved with the successful release of six brand new models into the market around the world, as well as the ongoing development and final stages of pre-production for what will be the ‘Jewels in the Maritimo Crown’ – the M75 and S75 models, due for unveiling in the first half of 2023.
“It has been another great sales year across the globe. Maritimo is benefitting from a compounding effect, partly due to our intensive product development strategy. The Australian market is accounting for about 40% of our sales with New Zealand 20%. Following that, the next biggest market outside Australia would be the USA, which currently accounts for about 35% of our sales,” says Tom Barry-Cotter Managing Director of Maritimo.
“That US number is growing year on year. We are finding a lot of traction there at the moment, so we’ll probably see that number increase over the next three years. We’re still seeing a lot of interest in Asia, and have just signed up Eins A Resort to represent Maritimo in Japan, which we’re incredibly excited about. We will have our first boat, an M55, heading there next year, which will be a great milestone for the Maritimo brand,” Barry-Cotter said.
“We’ve also had a couple of boats selling into Europe recently, including a new M600 Offshore Flybridge Motor Yacht in the last two months. This market is starting to open up to us, and our reputation for the most luxurious and highest quality long-range vessels is being recognised.” Maritimo’s manufacturing facilities in Coomera on the Gold Coast have undergone a massive expansion program in the last few years in order to meet production demand from increased sales volumes, and many millions of dollars have been invested.
“We’ve purposely gone with a second production line for our bigger boats (M75 and S75), so that there will be a completely different team working on the flagships from the other new models (55, 60, and 600), so as not to disturb the flow of production on them or our other product offering. We’ve recently installed all new production infrastructure inside this new, dedicated facility, so that the production team can walk straight onto these big boats at main deck level, and be optimised for creating production efficiency and superior working environment,” said Tom Barry-Cotter.
Another memorable moment during 2022 was the announcement of the partnership between Maritimo and Rolls Royce Power Systems mtu. Powerplants by mtu are offered as an optional upgrade for the flagship M75 and S75, as well as other selected models. The successful marriage of Maritimo and mtu has resulted in the vast majority of orders for 75s being fitted with the 1625hp V10 mtu diesels, over the standard inclusion of the Scania Di13 1150MHP units.
“We are very much looking forward to releasing the M75 and S75 Luxury Motor Yachts to the press and public, along with marking the official commencement of Maritimo’s 20th year celebrations at the Sanctuary Cove Boat Show in 2023,” Barry-Cotter added.
Maritimo’s sustainable growth during 2022 has continued the course set back in 2020, which was a careful and measured approach, with a high focus on exceeding customer expectations.
“20% year on year growth is a result of our careful expansion plan to ensure that the quality and the outcome for the customer remains high,” said Maritimo Operations Manager, Phil Candler.
“Production at Maritimo is out into mid-2025 on most models, particularly the 55, the 60, and the 600s. The demand for our product is continuing to be very strong, including our new M75 and S75, so much so that those models are out to that timeline as well. Our rate of manufacturing is increasing, and our sales continue to push as well. The lines are not quite parallel yet, but it’s certainly our goal to refine this over 2023, to ensure that we align our manufacturing to our sales program,” said Candler.
There have been two integral elements at play to ensure sustainable and manageable production growth during this period. The first has been managing the supply chain, and from the beginning of 2020 Maritimo has focused on ensuring we had stock of all the right components to build boats. As sales volume continued to grow, strategies were put in place to ensure that one to two years’ worth of inventory was ‘on hand’ across the board for all significant components. This has been a massive investment in inventory of engines, gearboxes, build materials, and other high value componentry, to ensure production delivery.
The second integral element to meet demand has been in the recruitment, training and development of quality manufacturing trades people. “We’ve got a three-fold approach, to find, develop and train young boat builders, cabinet makers, laminators, Engineers, & R&D craftspeople – in all areas of the boatbuilding industry, to ensure that we continue to train and develop apprentices for the future,” said Candler.
“One example of success from this program is one of our apprentices, Matthew Warren, winning the 2022 Outstanding Achievement Award from TAFE. Warren was recognised from a pool of over 2000 apprentices on the Gold Coast, across all industries and trades. This demonstrates that it’s all about recruiting quality people, with the right attitude, training and support,” Candler went on to say.
The Maritimo Momentum Program covers this leadership and in-house training, and offers both a Certificate II, and a Certificate IV qualification. “Momentum comes from our all our business divisions, and we recognise that growth is critically important. Derived from our racing culture within the business, we recognise that the momentum to win is a key to the overall success of our company. It’s also about nurturing the well-being, the training, the development and the future opportunities for our apprentices within the Maritimo Momentum Program. They apply for the opportunity to be part of this and we support them,” said Candler.
Creating a culture of inclusion is not just something that Maritimo does well inside the business operation, but equally as well outside in the broader community of Maritimo boat owners. This year saw the launch of the Maritimo Migration, an opportunity for Maritimo boat owners to migrate up the east coast of Australia to enjoy the spectacular surrounds and facilities of Hamilton Island. “It was about a year and a half in development from when the idea was first struck, and it was to bring about an experience that elevated what living on boats is all about. Hamilton Island was a perfect destination,” said Maritimo’s Marketing Manager, Simon Stewart.
“It was a superb venue, as it allowed us to have a home base, with great accommodation, marvellous facilities for the boats and also for the VIP events, and then island hop around to different locations, including Whitehaven Beach for day trips. Next year will be even bigger on both sides of the Pacific. We will push the Australian Migration out to October, to benefit from even better weather, and there are plans afoot for similar migrations on the both the east and west coasts of the USA, for our Maritimo family there.”
“The US market has been very strong for Maritimo, and is growing year on year. We certainly will support our customer base in the US with events that allow them to share the joy of Maritimo ownership. We will underpin an annual calendar of events in regions around the globe, beyond our highly successful attendances in 2022 at Sanctuary Cove and Fort Lauderdale International Boat Shows. We will launch more details about 2023 and future shows, events and programs in various regions in the coming months,” Stewart added.
As 2022 closes out, it brings us all even closer to the Rolex Sydney Hobart Yacht Race held on Boxing Day each year. There’s been quite a bit of activity down at Maritimo’s Hope Island facility in the last few weeks preparing Maritimo Racing’s latest acquisition – a highly competitive TP52. ‘Maritimo 11’ is to be unveiled on December 16th.
“The spirit of competition is in our DNA. Racing, whether sail or power, is what we love doing. It drives us forward and it truly brings out the best spirit in us all. What we learn from it, even the smallest advancements, we invest back into what we do, to be the very best that we can be,” said Tom Barry Cotter.
The TP52 sits within the most competitive class in the Rolex Sydney Hobart and Maritimo’s highly experienced crew and competitive nature makes them strong contenders in this year’s race.
