Gulf Craft records 42% increase in order book value during H1 2021

Dubai - Highlights of the first half of the year include strengthening partnerships in the region and expanding the company's reach in the US and Europe

Global boat and yacht manufacturer, Gulf Craft, has announced that it has recorded a robust 42 per cent growth in the value of its global order book during the first half of the year, from January to June 2021, compared to the full year of 2020.

The fully integrated shipbuilder has secured 71 confirmed orders for its range of boats and superyachts in H1 2021, with 32 delivered to customers from around the world already.

Gulf Craft’s global expansion has continued to take shape over the last six months with an additional twelve countries around the world representing the extensive product range. There has been a significant push into Europe in 2021 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 their strategic international territories, with the announcement of the development of a new factory and is committed to double the size of their operations within 16 months. In the first half of the 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.

“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," said Mohammed Alshaali, chairman of Gulf Craft. "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."

Talal Nasralla, CEO of Gulf Craft, noted that the strong performance in the first half of the year reflects the growing appeal of Gulf Craft’s vessels among boaters from across the world, who appreciate exceptional craftsmanship and attention to detail.

"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,” he said.

Further strengthening its presence in their home-market of Dubai, Gulf Craft announced a strategic partnership with P&O Marinas, DP World’s collection of world-class luxury marinas and picturesque harbors, to open its dedicated Sales Center at Mina Rashid Marina, the home port for many of Dubai’s superyachts. The initiative will include a design studio, sales center, as well as a full team of after sales technicians to offer optimum support to the yachts in the marina.

The highlight of the half-year was the formal unveiling of the Majesty 175, the world’s largest composite production superyacht, due to be handed over to her owner later this summer. The company also marked the delivery of another Majesty 100, one of their best-selling models that has gained acclaim globally for its innovative design, powerful performance, and massive interior volume. The Majesty 120, which was launched last summer was also delivered, with 2 additional hulls already in production. All Gulf Craft’s products are built at their in-house production facility in the UAE.

rohma@khaleejtimes.com