Made-in-China superyachts reflect changing tide of economy

Katie Hunt, for CNN
Updated 7:04 AM EDT, Wed October 17, 2012
Accelera makes yachts, houseboats and other vessels in Zhuhai, southern China.
Made-in-China superyachts —
Accelera makes yachts, houseboats and other vessels in Zhuhai, southern China.
Katie Hunt
Cheaper labor costs mean the yachts cost a third of international brands such as Sunseeker and Azimut
Cheaper labor costs mean the yachts cost a third of international brands such as Sunseeker and Azimut
Katie Hunt
Accelera tailor makes each yacht. As well as their own designers, they employ Italian consultants.
Accelera tailor makes each yacht. As well as their own designers, they employ Italian consultants.
Katie Hunt
Samuel Wong, left, gives directions to one of his employees.
Samuel Wong, left, gives directions to one of his employees.
Katie Hunt
The yachts are spray painted and sanded six times
The yachts are spray painted and sanded six times
Katie Hunt
The company started out making fishing vessels and house boats.
The company started out making fishing vessels and house boats.
Katie Hunt
Skilled workers at the shipyard earn, on average, $950 a month.
Skilled workers at the shipyard earn, on average, $950 a month.
Katie Hunt
A shrine dedicated to Lu Ban, the "patron saint" for Chinese builders and construction workers, stands at the heart of the shipyard
A shrine dedicated to Lu Ban, the "patron saint" for Chinese builders and construction workers, stands at the heart of the shipyard
Katie Hunt
China-made superyachts

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Story highlights

Chinese ship builder hopes to create super yacht brand

Yachts cost a third of international brands like Azimut and Sunseeker

Move reflects China's changing industrial base

Yachting industry may be limited by taxes, regulation and lack of marinas

Zhuhai, China CNN  — 

Armed with glossy sales catalogs and a shy swagger, Samuel Wong hopes to transform his family-run firm from a manufacturer of hum-drum fishing vessels and houseboats into a maker of sophisticated super yachts.

His company makes up to six 86-foot and 98-foot yachts a year at its shipyard in Zhuhai, southern China, under its Accelera brand.

The name was coined by Wong because it “sounded Italian.” The company aims to compete in a marketplace currently dominated by European yacht makers like Azimut and Sunseeker and count billionaires among its clients.

“Li Ka-shing would never buy our brand but I hope in 10 years time he might consider it,” said Wong, 36, referring to Asia’s richest man, who is rumored to keep an 84-foot Italian-made Riva yacht at an exclusive Hong Kong marina.

Wong’s attempt to move upmarket is a reflection of China’s changing industrial base and the challenges many Chinese companies face as they try to move away from mass-produced goods to higher-value, branded products.

The company sold seven vessels to buyers in Hong Kong and China in the last financial year.