Last August, seven local companies – Automation Technologies, Cutrico Marine, Doneo Co. Ltd, Joinwell Ltd, Malta Super Yacht Services, Manoel Island Yacht Yard and SAW Ltd – all active in the superyacht repair industry, agreed to establish a non-profit making organisation called Malta Superyacht Industry Network.

The setting-up of this network was facilitated by Malta Enterprise under the Malta Regional Innovation Strategy (MARIS) project, which is part-financed by the European Union.

A transitional committee is managing the network until January 2008, after which the first general meeting will be held and a new committee elected.

The network has the main objectives of establishing a quality charter based on the use of good working practices and industry expectations for contractors working in the local yachting repair industry, and to facilitate improved capabilities and capacity building. This effort is aimed at improving Malta’s competitiveness and international standing in the industry through a shared value for quality, better networking and reduced risks.

Member companies will be audited by an independent organisation to ensure compliance with the network charter and guidelines. The network believes this will ensure a more consistent level of quality and service that will be acknowledged by customers, who will in turn prefer to use members of the network to other service providers.

While the network will organise collective marketing opportunities, it will also engage in promoting Malta’s yacht repair services in general and will complement parallel initiatives in lobbying in favour of the industry.