Super yacht refits
A 'pick-me-up' for the economy
A 95-metre yacht lies in the dock for a facelift - and the Maltese economy gets a shot in the arm. The world-renowned Indian Empress, is on its fifth visit to Malta to undergo a regular refit programme, this time lasting at least four months.
"This is good news not only for the industry, but for the rest of Maltese business," says Pierre Balzan, chairman of Melita Marine Group which has been entrusted with the refit.
"This job means a whole range of direct and indirect employment opportunities, like mechanical overhauls, carpentry and upholstery, to other, less obvious services which benefit from the ripple effect, like catering and entertainment establishments. Yachts in this category may carry an average of 30 crew members who have to live on the island for the length of time the yacht is being given 'spa treatment'. This is the sort of pick-me-up the economy does invariably well with."
The Melita Marine Group, operator of the Manoel Island Marina, holds 17 subsidiary companies under its umbrella. It offers a variety of marine services, from fuel supplies to yacht/charter brokerage, harbour management, paint supplies and yacht refits. The services are offered from one centre, networked across the Mediterranean to ensure that the group is able to cater for captains' and owners' needs throughout the major yachting zones in the region.
The Indian Empress is being repainted at Malta Superyacht Services, whose operations would otherwise be on hold pending a decision on the shipyards' privatisation. The Malta Superyacht Services is one of only four its kind in the Mediterranean.
This is the largest yacht to have the hull painted in Malta and by a Maltese company, a Melita Marine subsidiary, Melita Yacht Painters. The company employs a mobile team of 30 carrying out jobs at shipyards where they are required. At least 12 are currently busy with the Indian Empress; the rest have been commissioned in Italy for a 55-metre yacht rebuild project at the Benetti shipyard in Viareggio. Another four, similar projects are lined up for this year.
"We have worked hard to build a prestigious contact base," Mr Balzan points out. "The industry requires a high level of workmanship, which we have reached and live up to. This has helped us win new business and ensure that this becomes repeat activity.
"As crises hit economies and the financial sectors, industries which inject huge capital need more focused attention. Yachts have a five-year maintenance cycle which they cannot fail if they are to maintain their value. It is estimated that this year, over 280 superyachts are due their maintenance programme worldwide. This is one boat our industry in Malta cannot miss."
"This is good news not only for the industry, but for the rest of Maltese business," says Pierre Balzan, chairman of Melita Marine Group which has been entrusted with the refit.
"This job means a whole range of direct and indirect employment opportunities, like mechanical overhauls, carpentry and upholstery, to other, less obvious services which benefit from the ripple effect, like catering and entertainment establishments. Yachts in this category may carry an average of 30 crew members who have to live on the island for the length of time the yacht is being given 'spa treatment'. This is the sort of pick-me-up the economy does invariably well with."
The Melita Marine Group, operator of the Manoel Island Marina, holds 17 subsidiary companies under its umbrella. It offers a variety of marine services, from fuel supplies to yacht/charter brokerage, harbour management, paint supplies and yacht refits. The services are offered from one centre, networked across the Mediterranean to ensure that the group is able to cater for captains' and owners' needs throughout the major yachting zones in the region.
The Indian Empress is being repainted at Malta Superyacht Services, whose operations would otherwise be on hold pending a decision on the shipyards' privatisation. The Malta Superyacht Services is one of only four its kind in the Mediterranean.
This is the largest yacht to have the hull painted in Malta and by a Maltese company, a Melita Marine subsidiary, Melita Yacht Painters. The company employs a mobile team of 30 carrying out jobs at shipyards where they are required. At least 12 are currently busy with the Indian Empress; the rest have been commissioned in Italy for a 55-metre yacht rebuild project at the Benetti shipyard in Viareggio. Another four, similar projects are lined up for this year.
"We have worked hard to build a prestigious contact base," Mr Balzan points out. "The industry requires a high level of workmanship, which we have reached and live up to. This has helped us win new business and ensure that this becomes repeat activity.
"As crises hit economies and the financial sectors, industries which inject huge capital need more focused attention. Yachts have a five-year maintenance cycle which they cannot fail if they are to maintain their value. It is estimated that this year, over 280 superyachts are due their maintenance programme worldwide. This is one boat our industry in Malta cannot miss."