‘Palma can become the hub for refit services in the Mediterranean’.

Today marks the second and final day of the first edition of The Balearic Superyacht Forum, a pioneering initiative in the Balearic Islands organized by the Balearic Marine Cluster and The Superyacht Forum, which focuses on the superyacht sector and analyzes the current situation and growth potential of an activity that has become strategic for the future of the Balearic economy, with the participation of the best international experts.

The first meeting of the day, which was also held at the Palma Auditorium, analyzed the future of the refit industry on the Islands, the companies that repair and refit large yachts, an activity that is mainly concentrated in the Port of Palma.

The president of The Superyacht Group and moderator of the round table, Martin Redmayne, made clear in his first speech the importance of refit in the world of superyachts, noting that this was undoubtedly the most important debate of the forum.Redmayne offered some brief data on the exponential growth of this activity in the Balearic Islands over the last 30 years to reach a capacity of 100,000 tonnes at present. ‘It is not only the number of ships that is growing, but also their size,’ he said. Reydman warned of the need to plan for future growth in order to make it sustainable. ‘We are doing things right in Mallorca,’ he said, ‘and if local governments understand the potential of the sector, the island can become the hub for refit services in the Mediterranean.

For his part, in a brief speech, the president of the Balearic Marine Cluster, Toni Salom, stressed the need to ensure collaboration between refit companies in the Balearic Islands: ‘We have to help each other. We want to ask everyone, clients, managers, companies, etc. to maintain solidarity among all within this strategic sector’.

The general manager of Astilleros de Mallorca, Carlos Morales, opened the floor to highlight the versatility offered by the 40,000 companies that make up the sector: ‘In Mallorca there are a multitude of offers for every type of client. I don't know of any other place with such variety and possibilities. There are premium companies and specialists here who are able to compete worldwide. For me, we are not a hub in the Mediterranean, but in the whole world.’

Another of the major refit companies in Mallorca, STP Shipyard Palma, was represented by its production director, Carlos Albons. Albons emphasized the capacity to adapt to the needs of the superyacht clients offered by the services in Palma, but called for more space for this activity: ‘With a view to 2030 we all need to work on the same line and get all the space they can give us for our activity. We must be good neighbours. The Balearics and Palma need their ports. We have to go along these lines to be able to continue growing’.

Olimpia Corral, operations director of Baltic Yacht Service and Refit, analyzed the strategic model that refit in the Balearics must adapt for the future: ‘The model works well and is copied in other places, but we will have to decide whether we go towards more smaller boats or fewer boats, but bigger ones’.

The managing partner of BWA Yachting Spain, Antonella della Pietra, welcomed the celebration of The Balearic Superyacht Forum and urged those present to reflect on what it means to hold an event of this magnitude in Palma: ‘We are creating the future. It is a historic moment. I find it incredible. It is the first time that we have brought together so many representatives of the industry in Mallorca’.

Rupert Savage, operations director of GYG/Pinmar, spoke of the importance of Mallorca in the booming yachting industry on the islands: ‘The reason people come here is because they like the destination. Those who come, will continue to come. I have known Mallorca for 35 years. Back then it was all very different. Now there is a lot of experience and professional knowledge.

Finally, the commercial director of Hill Robinson, Xavier Perrone, pointed out two of the areas in which the Balearic Islands must improve in the activity related to superyachts: confidentiality and privacy, and warned of dangerous legislative initiatives that could put an end to the competitiveness of this activity: ‘We have seen in France and Italy how a change in the law can stop the momentum that these companies are experiencing and change a future that until then seemed bright’.

The second panel discussion of the morning was a workshop focused on the environmental sustainability of the sector under the heading 'The industry's roadmap to the Sustainable Development Goals'. This part was attended by Lucía Mingot, director of innovation and quality at Astilleros de Mallorca, Nigel Marrison, CEO of Blue ESG and superyacht captain, Isabel Teruel, port director at Ocibar Marinas Singulares, and Jose Escaño, project manager at the MedGardens Foundation.

Finally, the grand finale of the first edition of The Balearic Superyacht Forum will be this afternoon with the grand finale of the Blue Start Pitching Competition. An initiative of the Balearic Marine Cluster to decide which is the best innovative company in the nautical sector. In this workshop, five startups previously selected from a multitude of candidates will present their projects and strategic plans to a group of experts in the sector. The main objective is to train and promote innovation in the nautical sector. The five finalists who will opt for a prize of five thousand euros, among other benefits, are Keep Boat Afloat, SafetyCraft, Searebbel, Seawex and Toroi Marine.