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MYS 2023: IMM on the Key to a Successful Refit
Joining Shari Liu at the Superyachts.com interview studio, was Norina Edelman and Abi McGrath from IMM Yachting. Discussing the key to a successful refit, we gained an insight into IMM’s business strategies and its plans for growth.
Based in the Caribbean since 2010, IMM Yachting offers yacht refit and repair services in Guadeloupe and St. Maarten as well as a global refit service named IMM Away. Norina Edelman, CEO of IMM, discussed the necessity of global services due to vessels navigating more and more worldwide. She acknowledged that owners do not want to be bound to traditional refit spots, and are therefore looking for solutions elsewhere. IMM Away tackles this issue, with the ability to accommodate a vessel wherever is necessary for clients.
Edelman has acknowledged the company’s ability to execute this is due to its good project management: ‘the key to good refit is good project management, so when you have that in a shipyard, there’s no reason that we can’t take that outside of our facility and use those skills in various places throughout the world.’
Appearing on the panel of the Monaco Yacht Show Summitt, Edelman spoke on the differentiations between companies: those that are large that oversee huge amounts of acquisitions, as well as, ‘others, like us [IMM], who are growing organically but are remaining smaller and independent.’
Edelman spoke on the necessity for clients to have a choice between companies, and that IMM’s choice is to remain a size that is personable so that clients have the undivided attention of the business.
Whilst remaining small, IMM Yachting has plans to expand into Puerto Rico, with a yard that will soon be fully operational. Abi McGrath, CCO, has acknowledged this as a positive step for the company: ‘It’s going to be really exciting, and I think much needed, yard for the East Coast of the US and the Caribbean region.’
As yachts have grown in size, the refit market, whilst healthy and incredibly busy, has struggled to keep up with the increase in large yachts, therefore lacking facilities. This new yard in Puerto Rico confronts these issues, with a refit facility that includes a 200m dry dock able to accommodate the world’s largest yachts, as well as a haul out for boats up to 80m.
To find out more, watch the full interview above.
"The key to good refit is good project management. So when you have that in a shipyard, there’s no reason that we can’t take that outside of our facility and use those skills in various places throughout the world."
"The key to good refit is good project management. So when you have that in a shipyard, there’s no reason that we can’t take that outside of our facility and use those skills in various places throughout the world."
Norina Edelman, CEO, IMM Yachting