Gold Coast boatbuilding business booms ahead of top trade show

GOLD Coast local luxury boatbuilders are ramping up production ahead of a key trade show next month as international orders pile in for the floating palaces.

Riviera CEO Wes Moxey aboard the new S72 yacht. Photo: Richard Gosling

THE Gold Coast’s boatbuilding industry is in rude health ahead of Australia’s second-largest trade show next month at Sanctuary Cove.

Both of the Coast’s major boatbuilders, Maritimo and Riviera, are ramping up production to take advantage of strong global demand.

Earlier this year Maritimo announced it had purchased a 3.1ha site adjoining its Coomera base to expand its manufacturing hub, while Riviera is quoting for orders well into next year.

Riviera CEO Wes Moxey, who is in the midst of his second stint heading the company since returning in 2012, said Riviera has bounced back stronger than ever after falling into receivership in 2009.

Riviera’s S72 takes six months to build. Photo: Richard Gosling

The business now occupies a 14ha site at Coomera with 585 staff including 74 apprentices.

“We have enjoyed six years of positive growth. That has been on the back of rebuilding Riviera with fresh new product, rebuilding our workforce, and we do not see that slowing.”

SANCTUARY COVE BOAT SHOW COULD BE NATION'S LARGEST

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Riviera is gearing up for the Sanctuary Cove International Boat Show next month, where it will launch its new S72 yacht to the Australian market.

The boat, which sells for about $4 million depending on the modifications a client requires, take six months to build and has room for crew if needed.

The hull of the S72 is pictured in this photo including the fuel tanks. Photo: Richard Gosling

“S72 fits the profile of what out customers are asking for,” Mr Moxey said. “They want it for long-range cruising, fishing, many different things. And that has been brought into one package. We have to design boats that can be flexible.”

Mr Moxey said Riviera customers are self-made businesspeople who buy boats as a reward for hard work.

He said they are generally conservative and will pull back if they perceive the business environment has become unstable.

The flybridge is built separately before being placed on top of the hull. Photo: Richard Gosling

“An example is the NZ election last year. Nothing changed except the government. The Monday following the election we had a phonecall and three orders were cancelled. That’s conservative businesspeople saying we can’t do it. However, last week I spoke to out NZ dealer and he said the tap has been turned on again.”

Mr Moxey said the boatbuilder, which exports around the world, is well placed to meet a rising tide of demand from cashed-up butlers.

“Six years ago we had a small forward-order pipeline, and today it is well over $100 million in retail sales. That is a very good place for us to be. We are now quoting for boat orders well into 2019.”

Luxury boats contain a massive amount of electrical and mechanical wiring and gear. Photo: Richard Gosling

Maritimo, which has 100 staff, is also launching a new boat at the Sanctuary Cove show called the X60. Founder Bill Barry-Cotter said it will have one of the largest display stands of any manufacturer this year. He said the Australian luxury boating market was continuing to improve.

Riviera CEO Wes Moxey heads up a Gold Coast company with close to 600 employees. Photo: Richard Gosling