Rolls-Royce Enlisted To Help Meet Global Demand For Megayachts

by Amanda Banks, for LawAndTax-News.com, London

29 July 2008

To help meet excess demand at the high-end of European megayacht market, Rolls-Royce Marine has been contracted by a consortium of American shipbuilders, led by Atlantic Yachts and its CEO Paul Madden, it was announced this week.

The US-built megayachts will be European-designed and engineered.

With the Dollar-Euro advantage, combined with US shipyard capacities, the megayachts are expected to cost one-third less than, and can be delivered in half the time of comparable European-built megayachts, Atlantic Yachts announced in a statement.

“Our core management are being recruited from the top European shipyards, and we enlist sub-contractors from both sides of the Atlantic,” revealed CEO Paul Madden, going on to add:

“This is a classic technology and design transfer from Europe to the US, where we currently have a significant advantage in the manufacture of sophisticated equipment, such as large steel motor yachts. We are using the same shipyards that build the next-generation US Navy ships.”

Rolls-Royce Marine is working in concert with several top European yacht designers, providing engineering and integrated power, propulsion and stability systems on all of Atlantic’s US-built yachts.

Rolls-Royce’s Marine Division provides engineering and equipment on 20,000 commercial and naval vessels operating around the world, ranging from nuclear submarines to megayachts.

The venture plans to deliver a maximum of 2 megayachts per year.

“We only deal directly with owners and their designers and technical teams,” Madden explained, concluding:

“We are only taking on a few orders, so we don’t need to make a lot of noise.”

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