Gulf Craft reports 42 per cent surge in orders
Gulf Craft has recorded a robust 42 per cent growth in the value of its global order book during the first half of the year (January to June 2021) compared to the full year of 2020.
The yacht manufacturer has secured 71 confirmed orders for its range of boats and superyachts in H1 2021 with 32 delivered to customers already.
Gulf Craft’s expansion has continued to take shape over the last six months with an additional twelve countries around the world representing the product range. There has been a significant push into Europe in 2021, the builder says, with distribution channels set up in many key territories including, Germany, Spain, the Netherlands, Portugal, as well as regions in Australia.
The company has also strengthened its foothold in the Maldives, one of its strategic territories, with the announcement of the development of a new factory and confirms it is committed to double the size of its operations within 16 months.
In the first half of 2021, Gulf Craft was awarded the contract with Maldives Transport and Contracting Company (MTCC) to manufacture vessels for the Integrated National Public Ferry Network which aims to establish an efficient transport system to all administrative islands of the Maldives.
In 2021, Gulf Craft unveiled its Majesty 175, ‘the world’s largest composite production superyacht’, which is due to be handed over to her owner later this summer.
The Majesty 120, which was launched last summer, was also delivered with additional hulls already in production. The company also marked the delivery of another Majesty 100 in 2021. All Gulf Craft’s products are built at its in-house production facility in the United Arab Emirates.
In July, MIN reported on Gulf Craft’s announcement of its strategic partnership with P&O Marinas to drive its Dubai expansion at Mina Rashid Marina. The initiative will include a design studio, sales centre, as well as a full team of after-sales technicians for the yachts in the marina.
Gulf Craft Chairman, Mohammed Alshaali, says: “While the pandemic had an impact on the boating sector, we remained committed to honoring our delivery schedules and innovating on design and production at our fully integrated production facility in the UAE. We continued to build on an opportunity basis throughout 2020 which put us in strong position in 2021 when we saw an increased demand particularly on yachts ready for immediate delivery. We’ve recorded significant growth for all our five brands that meet the aspirations of seasoned marine explorers, families, and adventurers.
Gulf Craft CEO, Talal Nasralla, adds: “The strong performance in the first half of this year reflects the growing appeal of Gulf Craft’s vessels among boaters from across the world. We have seen demand increase exponentially across all our five brands – from entry-level family boats to luxury superyachts, with customers from the GCC region, the US, Europe, and Australia. Our expanded dealer network and stronger partnerships in the UAE will drive our continued growth through the rest of the year and beyond. We are firmly on track to become one of the world’s top five shipbuilders by 2025.”
