Sunday, June 10, 2012

NY Boatbuilder Heads for the Wind

The East Basin of Mamaroneck Harbor offers sailboats a well-
protected nook in which to set anchor away from the ocean swells and wind waves found in the open waters off the Northeast Coast.  

But while this inlet protects its residents from the torrents of Mother Nature, it cannot shelter inhabitants against the economic
winds of change that often originate 25 miles south in the turbulent
canyons of Manhattan’s financial world.  

On the shore of this bay, just in from the cluster of boats anchored
in its calm waters, is the headquarters of Derecktor Shipyards. It is a family owned builder of yachts and workboats with three facilities on the East Coast – its original location in the village of Mamaroneck, one in Bridgeport Connecticut, and another in Florida.  

This boat builder is currently navigating a financial storm.  

Six years ago, Derecktor Shipyards gambled big.  It jumped headfirst into a market few American boat builders dare enter – mega yachts for the world’s super rich.  But the entry into this niche industry hasn’t paid off.  Despite the launch of one high-profile mega yacht, additional orders haven’t materialized.