Pictured above: Some of the Rostron Finance Team aboard Adagio for some sightseeing around Otago Harbour.
When Rob Emett set out to grow his marine tourism business in Dunedin, he knew financing a new vessel wouldn’t be easy, that’s until Rostron Finance stepped in. The company’s hands-on support helped double his capacity, boost revenue, and unlock the next chapter for Otago Water Taxis.
For business owners in niche industries, securing finance can often feel like navigating rough seas. When the asset in question is a commercial vessel, the risks, regulations, and capital requirements can become even more complex.
However, for Rob Emett, Founder of Otago Water Taxis, partnering with Rostron Finance turned a major challenge into an opportunity for growth and one unforgettable five-day boat trip with his wife.
Operating from Otago Harbour in Dunedin, Rob has been running his business for four years. With just one 10-seat boat and a van, he was offering wildlife tours, cycleway transfers, and scenic charters.
During this time, Rob and Otago Water Taxis has built a reputation for delivering scenic, reliable services with a local touch. The harbour ride forms part of a 30km loop used by tourists and cyclists looking to experience the natural beauty of the Otago Peninsula.
“It’s picturesque and unique, and definitely adds to the experience. You don’t have to bike back,” Rob says with a smile.
In May 2024, Rob was ready to expand the business and buy a second boat to cater to increasing demand. He had a boat in mind, which was in Tauranga, so he reached out Rostron who sent their yacht evaluator out for an inspection.
The new vessel (Adagio) accommodates up to 18 passengers and has significantly changed how Rob’s business operates.
“With the new boat, people are a lot more comfortable. It’s bigger and fully covered. We can go out in all sorts of weather now.”
The purchase has almost doubled the capacity for Otago Water Taxis, and has translated into more bookings.
“It’s made a huge difference. It has meant we can generate more revenue by increasing capacity as well as operate in all weather conditions when we otherwise would’ve had to cancel using the old boat.”
Rob says that financing a high-value marine asset isn’t a straightforward process.
Traditional banks tend to shy away from lending on boats due to the perceived risks and complications involved.
“We recently bought a house, and the hassle we had to go through to get a mortgage through a bank was unreal. Like 10 times as hard as dealing with Rostron for the boat loan,” Rob says.
He says that what sets Rostron apart was how easy they made the process.
Rob was assigned a senior business specialist who handled the application from start to finish.
“All I had to do was get a valuation for the boat. Which they organised anyway. Hayden Washington [Rostron’s General Manager] knew a yacht broker who lived not far from where the boat was. He got him to check it out to make sure we weren’t buying a lemon. It didn’t cost me anything extra at all.”
This kind of hands-on, relationship-based service is central to how Rostron Finance operates.
By leveraging a large network of lenders and industry contacts, the company is able to finance a wide range of assets across various sectors. Whether it’s a single trailer or a fleet of trucks, Rostron offers tailored finance packages that can include multiple assets under a single commercial facility.
This makes managing payments simpler and removes the need to juggle several contracts from different lenders.
Customers are assigned a dedicated finance specialist who remains with their account over time.
Hayden says in many cases, businesses can be approved within hours rather than the weeks or even months required by traditional lenders.
“With the market starting to repair itself after 18 months of reduced business activity, a lot of businesses are realising that cashflow has never been more important,” he says.
“The fastest way to unlock cashflow is to finance your business assets. With tangible assets involved, the lending appetite is often stronger because there is something of value to recover,” Hayden says.
The interest rates are competitive with mortgage rates, and offer far more flexibility in repayment terms.
For Rob, Rostron’s support went beyond paperwork.
Once the financing was finalised, he and his wife travelled north to Tauranga to take possession of their new boat and then spent several weeks living on board as it underwent the final upgrades needed to meet commercial survey standards. Then came the journey home.
“We steamed the boat all the way home. Just my wife and I, from Tauranga down to Dunedin. It was an awesome boat trip, and we got some quality time together before putting it into business.”
Since then, the boat has become a core part of Otago Water Taxis’ success. It has allowed the business to retain cash reserves for staffing and marketing, grow faster, and maintain flexibility during unpredictable times.
Rob is now looking at potential future investments.
He also has some advice for other small business owners facing similar capital decisions.
“I’m a strong advocate for upgrading and buying the machinery and equipment you need to do your job as best as you can. But you’ve got to do your due diligence. Make sure the asset is going to increase your revenue or the amount of business you’re doing.”
For Rostron Finance, that’s exactly the kind of partnership they aim to build. By removing friction from complex lending scenarios and offering ongoing support, they empower business owners to pursue growth with confidence.
“They made it pretty easy. That’s for sure,” says Rob.
Hayden adds that right now it’s an exciting time to leverage new assets thanks to the Investment Boost Tax Deduction.
“It’s no secret businesses have been doing it tough for the last 18 months, thankfully with the release of the new budget targeted towards giving businesses some relief with the investment boost, things are looking up.”
