Newport Megayacht Shipyard Announces Expansion: Newport megayacht shipyard has received approval from the Rhode Island Coastal Resources Management Council to expand its dock space by 560 feet. Currently, Newport Shipyard has 2,833 linear feet of dock space. The addition will allow handling of more superyachts and generate an additional $500,000 in annual revenue.
Although the shipyard’s refit facility is able to haul out vessels up to 500 tons, the current marina’s dock space and configurations limits its ability to accommodate multiple yachts over 120 feet. Two dock fingers that create an addition four berths on the north side of Charlie Dock will be created along with lengthen four existing docks closer to the state fishing pier.
Eli Dana, Newport Shipyard general manager, noted that the marina had to turn away business in 2016, which was its busiest season on record. Shipyard management wants to ensure that yachts keep returning to the marine, both in season and in shoulder season for major refit and repair work.
Interest in the Newport marina has increased steadily over the last three to four years due to its growing reputation and successful business model. The marine and yard are currently preparing for a busy summer season to the high number of superyachts in the vicinity.
Investment in a 200-ton travel lift last year has also made the yard more appeal and cot effective for yachts looking to make smaller refits, which is where the shipyard’s niche lies, with most work taking less than six months. Having refit capabilities allows the shipyard to double its effective season from four to eight months.
Going forward, the biggest challenge to Newport’s growth will be space and limited capacity. Expansion plans, however, will help to accommodate yachts that are continuously growing in size and owners look for unique cruising options.
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