While a yacht’s design needs to reflect the owner’s desires and personality, the cost of its design can act as a brake. However, this can vary enormously as designer and naval architect Espen Oeino explained. He highlighted in detail choice of materials, new trends in financing and tips on how to optimise costs at the design phase. So many decisions have to be taken that could inflate or, the opposite, reduce the final invoice. “A yacht is above all a fabulous way to be free,” stressed the designer, “but obviously a yacht generates a carbon footprint. Today it is vital we reduce the impact it may have on the environment. There is also a growing demand from owners. Hydrogen, electric engines, solar power – many solutions are being developed but there is no universal recipe as yet.” Note that it is to meet this need to compare different propulsion methods that the YCM organises the Solar & Energy Boat Challenge (1-4 July 2020). Same vision for Michel Buffat, head of Yacht and Aviation finance at Credit Suisse. Beyond the newbuild price, banks are very interested in the yacht’s design, the yard’s reputation and also any innovations being incorporated. The key phrase now is “respect for the environment”. It is a phenomenon also driven by pressure from the public who believe yachts must play their part in the battle against greenhouse gas emissions: one way to push the industry to be beyond reproach. “ Banks will always look at these criteria and are very aware and sensitive to the issue,” concluded the Credit Suisse representative, who believes the yachting industry should have environmental indexes. Fadi Pataq, Director of German shipyard Nobiskrug, returned to the allocation of costs, especially on 80m yachts. For example, 50% of the cost relates to the materials compared to 18% for the interior design and only 17% on construction and 15% for pure engineering. It was also noted that the design, its complexity and the innovation factor, is one of the aspects that can inflate the bill. To keep track of these expenses, the project manager has a major role to play in keeping an eye on the specifications and expenses.