Oceania Marine – Anniversary Marks Good News for Superyacht Company
Oceania Marine Limited was incorporated in October 2009 and has now been offering refit, repair and construction services, through its shipyard located in Port Whangarei, New Zealand, for two years. Inevitably management of the company reflect on what has been achieved over the period and what that reveals engenders a strong sense of achievement. From what was virtually a zero start position in 2009 has seen the company grow to be a significant industry member in 2011.
32m New Build Ready for Launch - 2011
Key performance indicators underpinning this are:
- Turnover for year 2 was up 47% on year 1
- The company has maintained good trading profits since commencement of business
- The first superyacht new build project was delivered in 2011
- 16 refit projects completed in year 1 increased to 29 in year 2
- Start-up capital investment in infrastructure, equipment and machinery completed
- Healthy forward bookings ensure further increase in turnover for year 3
Managing Director, Martin Gleeson, comments that “Oceania Marine started life in a very tough business environment. The effects of the worldwide economic downturn combined with significant marine company failures, locally, required great care on the part of management in negotiating the right path to success. The enthusiastic support of an experienced project management team, project partners and sub-contractors was an important ingredient. That combined with diversified income streams and an emphasis on quality ensured that our company was always going to be a good performer”.
“Whilst we might feel very pleased with our year 2 result, this has to be tempered by the fact that the shipyard has considerable and extensive facilities that would require Oceania Marine to continue growing over coming years in order to be fully utilised. It’s a good start but we have to build on what we have done and attract, particularly, larger refit projects to Port Whangarei and the Oceania Marine shipyard”.