A discussion revolving around refit contracts, inevitably ventures into the subject of mark-ups and the tug of war between clients decrying it as 'money for nothing' and shipyards reasoning it as essential for paying overheads.

The commonality of overheads like insurance, maintenance, and marketing among competitors narrows down the key differentiators that drive the margin of a shipyard - health and safety, sustainability and investments. As the ICOMIA Superyacht Refit Group collaborates with yacht underwriters to develop transparent assessment of health and safety standards, it's clear it will attract further investments improving these standards. Equally, sustainability under the gambit of Environmental, Social and Governance (ESG) is directing significant investments towards better training, improved working conditions and social initiatives. Lastly, infrastructure investments such as solar panels, water-treatment systems and on-site waste recycling to enhance a shipyard's environmental footprint underline the importance of long-term investments for growth and survival in the competitive and technologically advancing industry. It all boils down to redefining mark-ups not as 'money for nothing' but rather as 'money for the future'.