Trinity’s vessels, which are constructed at the company’s New Orleans and Gulfport shipyards, sell for an average of $30 million.
Trinity Yachts Takes Luxury Motor Yacht Industry by Storm
By Bridget McCrae
Fort Lauderdale, Florida—Sitting in the cockpit of a 196-foot yacht docked in here, Jim Berulis was fine-tuning the boat and overseeing the in-water tweaks that had to be completed before the boat’s new owner took possession of it. This was a typical day in the life of Berulis, vice president of Gulfport, Miss.- based Trinity Yachts, a manufacturer of high-end, custom luxury yachts for affluent customers.
“I’m down here making sure everything is shipshape and in order,” said Berulis, whose 800-employee firm makes 140- to 250-foot custom motor yachts. The vessels, which are constructed at the company’s New Orleans and Gulfport shipyards, sell for an average of $30 million. Key management personnel include John Dane III, president and CEO; William S. Smith III, vice president; and Wayne Bourgeois, operations manager.
The high-end boats’ crew quarters, captains’ cabins and pilothouses are constructed primarily from Beech in Trinity Yacht’s own cabinet shop.
The high-end boats’ crew quarters, captains’ cabins and pilothouses are constructed primarily from Beech in Trinity Yacht’s own cabinet shop. The company purchases more than 120,000 board feet of hardwood and veneer combined annually, with a focus on exotic hardwoods like Mahogany, Sapele and Wenge.
To build its high-end products, the yacht maker subcontracts the manufacture and installation of the boat interiors to about a half dozen companies worldwide, said Berulis. “We come up with a floor plan or ‘general arrangement,’ and the owner typically will engage an interior designer who designs the luxury interior,” explained Berulis. “We then go out to bid with firms in Germany, New Zealand, Dubai and the United States,” Berulis continued. The 196-foot boat that was being tuned up at press time, for example, was fabricated by a company in New Zealand, and then installed in Trinity Yachts’ Gulfport shipyard.
The final product is a luxury interior comprising 5,000 to 7,000 square feet of air-conditioned space. Every boat is customized to its owner’s preferences, with the Beech crew quarters being the only constant across all of the finished yachts.
The final product is a luxury interior comprising 5,000 to 7,000 square feet of air-conditioned space. Every boat is customized to its owner’s preferences, with the Beech crew quarters being the only constant across all of the finished yachts. “That is our standard,” said Berulis. “The crew quarters are very nice, and we’re able to keep them moderately priced by using good quality Beech.”
That attention to quality and value dates back about 10 years, when Trinity Yachts started out as a shipyard that was owned by Halter Marine (which at the time owned about 26 shipyards). When Halter Marine merged with another firm, Chairman John Dane III broke off on his own with the firm’s New Orleans shipyard and the Trinity Yachts division.
At the time, the mega-yacht maker was building one boat at a time. “As a result of John breaking off and growing the firm, we expanded and started building three or four boats at a time,” said Berulis. The expansion was cut short by Hurricane Katrina, which swept through New Orleans in August of 2005, leaving behind a swath of destruction and flooding that would take years to recover from.
Today, Trinity Yachts builds both luxury motor yachts and commercial vessels. The latter are typically handled by the firm’s Gulfport location, while both shipyards build the motor yachts.
To ensure business continuity, Trinity Yachts purchased a larger facility in Gulfport, Miss., and moved some of its operations into a facility that could be put back in production more quickly. For the next two years the company would divide its efforts between rebuilding its New Orleans location, and building boats for its customers in Mississippi. “It was a pretty hectic time for us,” said Berulis.
Today, Trinity Yachts builds both luxury motor yachts and commercial vessels. The latter are typically handled by the firm’s Gulfport location, while both shipyards build the motor yachts. Right now, for example, the Gulfport team is working on a 242-foot luxury motor yacht. As the largest builder of custom motor yachts in the U.S., Trinity Yachts starts every new project from scratch, taking into account the owner’s wants, needs and specifications. Its 160-foot model is the most popular, and takes about two years to complete. When finished, the 5,000-square-foot luxury “home on the water” is self-sufficient, produces its own fresh water, is fully air-conditioned, and capable of motoring along at about 25 miles per hour.
To reach its discerning customer base, Trinity Yachts employs a number of senior management professionals who handle sales. It also owns a yacht brokerage, and sells a number of yachts through that direct channel. Like many manufacturers, the company has been adversely affected by the recession, despite the fact that affluent consumers have remained one of the only bright spots on the economic map.
Trinity’s Gulfport shipyard.
“Our customer base can still afford our product, but this is still discretionary spending,” said Berulis. “Much like the average consumer would like to buy a new car or home right now – but winds up delaying that purchase until he or she is more confident – it works the same for our customers. They’re postponing the purchase until the economic outlook improves.”
After dealing with a “decline in inquires and contracts” over the last few quarters, Berulis said the light at the end of the tunnel is starting to brighten. “We currently have seven large yachts in the pipeline, and a lot of interest from customers in the Middle East and Russia,” said Berulis. “We’re cautiously optimistic right now, but we do think we’re coming out the other side.” For more information visit www.trinityyachts.com.
The company purchases more than 120,000 board feet of hardwood and veneer combined annually, with a focus on exotic hardwoods like Mahogany, Sapele and Wenge.
As the largest builder of custom motor yachts in the U.S., Trinity Yachts starts every new project from scratch, taking into account the owner’s wants, needs and specifications. Its 160-foot model is the most popular, and takes about two years to complete. When finished, the 5,000-square-foot luxury “home on the water” is self-sufficient, produces its own fresh water, is fully air-conditioned, and capable of motoring along at about 25 miles per hour.
