Pendennis Shipyard, the UK’s largest privately-owned yacht building facility, has had its busiest winter refit season through 2017/18 with work being carried out on 11 projects simultaneously.
IBI understands that the Falmouth-based company’s turnover exceeded £50m for the first time in its 30-year history. This compares with the £46.8m reported in 2016. In that year, operating profit increased by 15.7% to £3,296,080, or 7% of turnover.
Pendennis’s 2017 results are due to be released later this year.
In a presentation as part of the latest Ince Yacht Seminar held late last week, the history of Pendennis was highlighted along with its run of 11 new-build and refit projects. Over 30 years the company has worked on 30 new-build projects and over 250 refits. The name Pendennis Shipyard dates from 1991 when the name was changed from its previous company title.
The latest new build, one of the 11 projects, is the custom 39m (128ft deck length) Vijonara, a sloop designed by the Dutch Koek design studio and built by Pendennis over an 18-month period. Her full length overall is 42.25m (139ft) and she was delivered earlier this year.
Andre Hoek, her Dutch designer, says: “This is the second hull in our Truly Classic 128 series, and this project in particular has been a fantastic experience from start to finish. The vessel was created for knowledgeable clients with extensive sailing experience. Based on a proven hull specification, the owners had a distinct vision for her customisation to suit their lifestyle, and she has been optimised extensively for performance.”
Hoek and Pendennis worked together on the project with the owner’s representatives MCM. In the presentation it was stated that Pendennis is hoping for more similar custom work to follow. Vijonara will be at the 2018 Monaco Yacht Show.
Among the refit projects was the 1915-built 42m (138ft) classic twin-masted schooner Mariette, which was built by Herreshoff in the US. She has made a number of visits to Pendennis over recent years for various work. She first visited the Pendennis Falmouth facility in February 2010 and returned in 2012 and 2014.
She arrived at Falmouth in September 2017 for a fourth refit, with Mariette’s schedule of works for this refit season more extensive. Updates will include metal repairs to the hull and structure, a new deck, new engine room layout and new topside paint. She is due to be delivered shortly.
Other projects included the 1929-built Haida, G2, White Star and Odyssey III. On Haida, work has included the replacement of 118 tonnes of steel, 1,600m of new piping, and 26,250m of electrical cable.