MULTIpedia 2025.05.02 - #03
THE 100% MULTIHULL NEWSLETTER
INTERNATIONAL MULTIHULL SHOW 2025:
BRIDGE OVER TROUBLED WATER?
Although the closing press release for the International Multihull Show 2025 refers to a 'record' 16th edition, this is in terms of the number of boats exhibited (73, including 58 sailing multihulls) and not, unfortunately, the number of visitors or buyers. The ever-increasing number of exhibitors, both afloat and ashore, the upmarket nature of the show, despite the mishap at the marina dedicated to powercats, and the increasingly international communications, make this annual event more essential than ever. Congratulations and sincere thanks to the organisers. But the impossible is impossible, demand is still being sought, customers are hesitating and postponing their decisions, so multihull builders are navigating by sight. With most of the economic signals turning orange, caution is the order of the day, even if some players remain optimistic. MULTIpedia takes a look at the show with five of them.
Xavier Bouin, CEO of TAN Services in Dubai, Lagoon and Dragonfly importer in the Middle East, confirms that "the market players have made a great effort, all the brands are there, but the visitors are perhaps less present and less international". In his market, it's quality rather than volume that counts, a positioning that perfectly suits the International Multihull Show, as Jens Quorning, CEO of Quorning Yachts, builder of the legendary Dragonfly, points out: "It was a good show with people focusing only on multihulls and quite international. But I also have to say that we can feel that, in general, it is calmer and that people are a bit more prudent". The success of the Dragonfly 36 did not depend on this show, however, as since its launch, and with just one indoor presentation at Boot Düsseldorf in January 2025, "we have sold 27 units which has never happened for us before! It's crazy. Somehow, we have hit a sort of sweet spot".
It is widely acknowledged that in tough times, especially in the cyclical boating industry, bringing out new models is a way of capturing the attention of buyers who are becoming increasingly scarce. A new feature, Excess13, "which is boosting the market", and passionate buyers who "when the stock market is going down tell themselves that this is the time to live their dream, because you only have one life and time flies", Thibaut de Montvalon, Excess's director, ended up with "a positive feedback of the show. In terms of overall attendance, I expect the figures to be down, but frankly, for us, as for Cannes, we're bucking that trend. We're doing well, but it would be a lie to say that the market is buoyant. Where we're lucky with Excess is that we're not yet very international. So what's happening in the United States does affect us, but the breakdown of our sales is 80% Europe, with a large proportion in France and neighboring countries. And the economies there are holding up better than in the United States, or even Asia or the Pacific". Who would have thought that Europe would be the lifeline for a market that has been driven for nearly thirty years under the American compass?
Perhaps Richard Ward, founder and managing director of Seawind has once again demonstrated his keen intuition.. Since 1983, Australia and the United States have been the two main destination markets for the nearly 800 multihulls he has launched. Back in 2013, he decided to leave Australia and combine production of his catamarans with that of the Corsair trimarans in Vietnam. And in 2023, Seawind inaugurated a brand-new factory, with an eventual production capacity of 20 to 25 boats a year, at the gateway to Europe, on the Aegean Sea, at Menemen near Izmir in Turkey. A strategic move to address the European market without prohibitive transport costs. Although the International Multihull Show was not a first, "We came here about five years ago with a Seawind 1600" to test the European market "as a beginner", recalls Richard. This year, "attendance overall is probably less busy but the people we talked to were all quality people. They were all people with a purpose, not necessarily to buy one today, but planning for the future. We have a lot of good leads, and now it's all about the follow up".
This relative optimism is harder to find in the mainstream market, as Boris Compagnon, Sales and Marketing Director at Catana Group, confides with great honesty: "few visitors, few foreigners, few sales" for this loyal exhibitor at the multihull show, it's worrying, it's the worst show I've been to so far". And the rental market will only take over if there are "investors behind it. So, we need to revitalize the business model so that investors come back. To do that, we need cheaper boats. We have started to lower prices since September 2024. All the new boats are coming out at much lower prices than the previous generation, which we've already done with the Bali 5.8. I think we're at a turning point, but I'm telling myself that the best is yet to come, because we can't go any lower than that" he concludes, not without a sense of humour.
But the overview of the market would not be complete without mentioning the second-hand sector. Catherine Relandeau from Cathyacht admits that here too it's difficult to get a clear picture, even if it's only in six months' time, with a show that was "fairly mixed, with one day following another and not quite the same, with fewer foreign visitors than last year and many more French". Admittedly, there were "several meetings and really concrete projects with people who have been following the multihull market for a long time, but very few novices, first-time buyers or first multihull purchases". However, second-hand multihulls are still very attractive, provided they are at "what I call market prices and not unreasonable prices. I think that the price increases in recent years on the new boat market have had a fairly positive impact on the second-hand market. So yes, we're going to keep our heads down this year and hope that it doesn't last". An opinion shared by many professionals
THE IMPORTANCE OF BRAND-NEW MULTIHULLS
Coming from South Africa on deck of a cargo ship (see MULTIpedia#01), the Leopard 46 is the fifth generation of Robertson & Caine catamarans. She has the tough task of replacing the Leopard 45, which was a real success, selling 479 units. Slightly longer than her predecessor (+27cm), she was aiming to weigh the same (16.4t), thanks in particular to composite bulkheads and a single structural metal beam in place of the previous H frame, but she has been announced at 17.6t. The extra meter of mast, 13.6 sqm more sail area and identical hull width at the waterline could compensate for this slight difference.
In terms of heritage, the Lagoon 38, the expected successor to the Lagoon 380, of which 894 have been produced since its launch in 1999, is an even higher challenge. By the shipyard's own admission, it took seven years and just as many hulls tested in CFD (Computational Fluid Dynamics) before obtaining a catamaran that meet their expectations. What this catamaran offers at just 11.38m overall, is quite impressive, and has very few in common with its illustrious predecessor, which was 11.55m LOA: the interior and exterior space, the level of finish, the quality of construction and sailing safety are all completely different, and the Lagoon 380 would probably be unsaleable, or even uncertifiable, today. However, on the other side of the coin, the claimed notions of 'simplicity' and 'affordability' have also changed in 26 years. While the Lagoon 380 was offered at around €120,000 when it was launched, it was still priced at €188,000 excluding VAT in the summer of 2011, or €235,000 today when inflation is factored in. The Lagoon 38 starts at 342,000 Euros ex VAT, the same price as an Excess 11, and not far from a Bali Catsmart (319,000 Euros ex VAT but with 20hp engines), perhaps the two most direct competitors, with Fountaine Pajot only starting its range at 40 feet with the Lucia 40. With 47 units already sold in just a few weeks, the price/performance positioning of the Lagoon 38 seems appropriate.
The Excess 13 does not replace any of its predecessors and, after selling 500 boats in just five and a half years of existence, has freed itself even further from the weight of the Bénéteau Group's traditions by calling on the Lombard firm for naval architecture and Jean-Marc Piaton for interior design. With the inflexible Hervé Piveteau as project manager and a design office happy to innovate, performance was at the heart of the debates. The deck alone, the largest part produced by the Group using infujection, saves 350 kg. Eric Levet and his team of naval architects have put their own stamp on the design, with a pronounced sheer deck, narrow bows well above the water with a clear dihedral, while respecting the brand's young DNA. Inside, while there are already plans to revise a few details after this #001 issue, the atmosphere is as refreshing as ever, while remaining light-hearted.
TRULY DISRUPTING
In addition to these three new models, the Dragonfly 36 already mentioned above, and the Tricat 8.50 that we will soon be visiting in Brittany, two catamarans were clearly off the beaten track at La Grande Motte and attracted a lot of attention and comment. The ModX 70, designed by VPLP Design, is unlike anything we've ever seen and opens an innovative approach to sailing, somewhere "between a sailboat and a motoryacht" explains Franck David, but with zero fossil fuels on board. The engines are electric (110 miles of range at 5 knots), with a 250 kW LFP battery pack, 70sqm of solar panels, and the possibility of eventually installing a hydrogen fuel cell. Under sail, the electrical regeneration produced by the propellers 'kills' 3 knots of speed, but as the boat is fast, the speeds reached are attractive:
The rigid wings, developed by the Aeroforce company headed by Jean Guyon, which are eventually targeting the much larger shipping market, rotate through 360 degrees and would be 1.7 times more efficient than conventional sails, thanks in particular to the asymmetric flap, which alone increases lift by between 30% and 40%. The handling of these wings, with their 23m high telescopic masts, is 100% automated thanks to a partnership with Madintec, specialists in high performance pilots (Ultim, Imoca...).
Finally, it was the Tortue 147 that undoubtedly attracted the most comments. Created by Jean Sommereux outside any historical or conventional box, it really breaks the codes, from the exterior style, undoubtedly the most divisive, to the interior design, which was very inspiring. Among the crowd of visitors who came aboard every day were architects, designers and design offices from all the shipyards on the market, all curious, most of them, and not least, full of praise for the boldness of the design and the relevance of certain functions integrated into the layout. The fittings are made entirely from paulownia, a sustainably produced wood that can grow up to 5 meters a year.
SPOTTED
A giant 14.70m turtle by Cataruga was at the heart of the International Multihull Show, with a never-before-seen interior, born from the fertile imagination of designer Jean-Michel Kalfon.
IN FIGURES
50,000
That's the number of hours spent developing the future Ultim trimaran Gitana 18, with an expected performance gain of between 10 and 15%, according to the first episode of this documentary produced for the team by Yann Riou's excellent Polaryse studio (English subtitles available).
50
would be the cumulative length in nautical miles of the 7,000 Lagoon produced since 1984 lined up in a row, 40 models having been developed in 40 years, as revealed in the book "Dream Destination" published to mark the shipyard's anniversary.
126
metric tons are, according to Franck David, CEO of Ocean Developpement, the amount of CO2 that the MODX 70 would save, as she is certified fossil fuel free, compared to a conventional 70' charter boat. This is equivalent to the emissions of 60 cars travelling 15,000 km per year.
3000
is the total number of Robertson & Caine catamarans sold and delivered since the company was founded in 1991.
2026
the International Multihull Show will take place from 22 to 26 April 2026, again at La Grande Motte. Save the date.
ERRATUM
It was the Maxi Edmond de Rothschild sailed by Charles Caudrelier and Franck Cammas which won the Brest AtlantiqueS race in 2019 and not, as indicated by mistake in the previous edition of MULTIpedia, François Gabart and Gwénolé Gahinet, who finished second. Our apologies to the four of them and to our readers.
The next edition of MULTIpedia will be published on Friday 16 May 2025, including a panorama of the multihull projects announced for the coming months, and a selection of equipment innovations discovered at the International Multihull Show.