Second Blue Design Summit opens in La Spezia

The second edition of the Blue Design Summit officially opened yesterday at the Teatro Civico della Spezia, kicking off three days of high-level discussion, design showcases and industry insights under the theme From Water to Design.

As the flagship event of Blue Design Week, which takes place from 12 to 16 May 2025, the Summit brings together leading figures from the international superyacht design and shipbuilding sectors, including prominent Italian and global design studios, shipyards, and suppliers.

During the first half-day of the conference, SuperYacht Times' Head of Intelligence, Ralph Dazert, presented our annual market report, while adding a real-time analysis of superyacht market trends based on first-quarter 2025 data. 

The headline finding was clear: the global superyacht market is stabilising following the post-COVID boom, but it is now evolving along two distinct trajectories. While the over 40 metre segment continues to demonstrate healthy growth, the 30 to 40 metre category is experiencing a marked decline in new orders.

After peaking at 375 new superyacht sales in 2021, the market recorded 195 new-builds in 2024. At the same time, deliveries have continued to rise, from 163 in 2021 to 228 in 2024 as shipyards work through a once-record backlog of orders. That backlog stood at 695 yachts at the start of 2024 but has since begun to decline for the first time in years.

The clearest trend, however, is the divergence between market segments. New orders in the 30 to 40 metre range dropped by 20 percent between 2023 and 2024, while those in the 40 to 50 metre bracket rose by 28 percent. In total, segments above 40 metres recorded a 13 percent increase in new orders during the same period.

“The market is moving towards a two-speed dynamic,” said Ralph Dazert during the session. “Buyers in the upper segments are continuing to invest, while the more accessible size ranges are seeing hesitation, likely due to broader economic uncertainties.”

In the first quarter of 2025 alone, new sales of 30 to 40 metre yachts dropped dramatically from 35 units in Q1 2024 to just 15. Units above 40 metres also fell, from 36 to 26, hinting at a potential slowdown across the board, possibly influenced by tariff announcements and macroeconomic pressures.

Despite the shifting market conditions, Italy continues to dominate the superyacht construction sector. In 2024, Italian shipyards accounted for 120 new yacht sales above 30 metres, more than double the combined total of all other competing nations. As of 1 January 2025, the country’s shipyards held 371 projects in their order books, representing 53 percent of the global backlog.

Notably, Italian projects are also growing in scale. The average new-build from an Italian yard now measures 44 metres and 517 gross tonnes, indicating a trend towards larger, more complex builds.

These figures were underscored during a panel discussion that closed the first day of the Summit, which featured leading figures such as Vasco Buonpensiere of Cantiere delle Marche, Diego Deprati from Baglietto, Sebastiano Fanizza of the Next Yacht Group and Vincenzo Poerio of Tankoa Yachts. 

Key issues addressed included the need to maintain strong profit margins to support self-financed innovation, and how Italian yards can continue scaling up to meet the demands of today’s owners.

The Blue Design Summit continues today, Wednesday 14 May, beginning with a keynote by the University of Luxury of Monaco Monte Carlo, focusing on trends shaping the demand side of the market. One of the day’s highlights will be a discussion by Fulvio De Simoni, Mario Pedol, Tommaso Spadolini and Giovanni Zuccon. Together, they will explore the evolution and future direction of superyacht aesthetics and functionality.

The afternoon will feature sessions on innovative developments in on-the-water living, with a spotlight on Sindalah. Representatives from Studio Luca Dini, Technogym, Stefano Ricci and the Bocelli Group will present the project’s progress and vision.

The day will conclude with a panel discussion on the themes of waterfront and floating architecture, featuring Alfonso Femia (Atelier Femia), Filippo Innocenti (Zaha Hadid Architects), Giancarlo Manfredi (Meyer Floating Solutions), and Joost Moolhuijzen (Renzo Piano Building Workshop). These discussions will touch on the fusion of urban design and maritime innovation.

The conference will culminate in the Blue Design Awards 2025 ceremony at 17:30 on Thursday 15 May. Winners will be selected by an independent scientific committee, chaired by Antonella Cotta Ramusino and composed of design experts, journalists and industry professionals.

Organised by Clickutility Team and Promostudi La Spezia, the Summit is promoted by Miglio Blu and enjoys the institutional support of the Liguria Region, the Municipality of La Spezia and the Port System Authority of the Eastern Ligurian Sea. Supporting organisations include Liguria International, Confindustria La Spezia and The International Propeller Club, Port of La Spezia.