Latest from Azimut, Princess, Sanlorenzo; Update on Dutch and Italian industries; Quebec City, Toronto and Edmonton among latest shows cancelled
Italy’s Azimut Yachts has introduced new measures to cope with the impact of COVID-19 and to align production with slowdowns in the supply chain. Azimut explains the situation to IBI.
Princess Yachts is calling for a collective approach and need for a major industry rethink in response to COVID-19. Kiran Haslam, chief marketing officer at Princess, spoke to IBI yesterday about the way that the industry sales platforms could and should change.
by Mike Derrett
Italian yacht builder Sanlorenzo reported profits of €27 million for 2019, a backlog of €500 million and says the company is not yet experiencing a material impact on business operations due to COVID-19
A spokesperson for the Italian trade association Confindustria Nautica has given IBI an update on the current situation on the ground in Italy.
The Dutch boating sector trade group is urging the government to accelerate its financial relief to offset the damage caused by the coronavirus outbreak. It said the recreation sector as a whole is suffering a sharp drop in bookings and cancellations of existing bookings are being cancelled.
MYBA Charter Show– cancelled
27-30 April, Barcelona, Spain
The 32nd edition of the MYBA Charter Show, due to be held at Marina Port Vell in April, has been cancelled. In a statement, the MYBA board said: “Further to our communique dated 5 March regarding the MYBA Charter Show, we would like to inform you that the MYBA Board held a conference call yesterday to further discuss the holding of the MYBA Charter Show in Barcelona in the current environment.”
It added: “The COVID-19 virus situation has evolved rapidly over the last few days and, unfortunately, developments have not been favourable. The Board therefore finds itself in a Force Majeure situation vis-à-vis its contractual obligations and considers it is best not to proceed in these unprecedented circumstances.”
“This is undoubtedly very disappointing news,” it continued, “however, taking into consideration the information that is currently available and the health of our members and all show participants being one of MYBA’s key priorities, it is not possible to ensure the show is organised in the safe and productive environment that we are recognised for by the superyacht industry.”
HISWA Amsterdam Boat Show – ended early
11-15 March, Amsterdam, Netherlands
Just two days into a five-day run, the organisers of the 65th HISWA Amsterdam Boat Show took immediate action yesterday to shut down the event following instructions announced by the Dutch government.
EU launches €37bn support to fight COVID-19 challenge
by David Robinson
The EU today introduced a set of measures to help member states combat the COVID-19 challenge and support businesses, especially the 100,000 SMEs and Mid Cap-sized firms, to cope with the problems of the spread of the virus.
Among the measures are:
- €37bn support for businesses such as SMEs and Mid Cap-sized companies as well as the tourism and aviation sectors. This will be extra to what member states are already providing to support their own economies
- Regulations on state aid will be put aside for an unspecified period to provide the flexibility of member states to support their economies and costs of fighting COVID-19
- The 3% rule of national deficits has been eased again for an unspecified period
- Financial support with banks cooperating by providing loans to help businesses cope while COVID-19 lasts
The overall measure was that the EU can overcome the COVID-19 virus challenge if all members work together and with cohesive measures.
The Superyacht Show – cancelled
6-9 May, Barcelona, Spain
LYBRA (the Large Yacht Brokers Association) today announced that The Superyacht Show 2020, due to be held in Marina Port Vell in Barcelona has been cancelled. The decision relates to the growing and widespread health concerns over the coronavirus and the resulting restrictions on large-scale events imposed by the Spanish authorities.
Raphael Sauleau, LYBRA president, says: “We regrettably have no option but to cancel the 2020 edition of The Superyacht Show at Marina Port Vell in Barcelona. We were in the advanced stages of planning our third annual show but current global events, way beyond our control, leave us no choice but to cancel. With a limit on the size of public gatherings and with the safety of all the yacht crew, participants and visitors in mind, this is the only prudent thing to do.”
Ignacio Erroz, general manager of Marina Port Vell, states: “Whilst The Superyacht Show has quickly gone from strength-to-strength in the past couple of years, these are extraordinary times and they call for swift and decisive action to try and secure public safety. Under this scenario we fully understand the decision taken by LYBRA and we look forward to welcoming The Superyacht Show back to our marina in 2021.”
The Superyacht Show 2020, presented in partnership with major sponsors such as Boeing Business Jets and Credit Suisse, was due to host the largest display of superyachts for sale and charter ever brought together in Spanish waters. A mere postponement was deemed unfeasible since many of the large yachts that were confirmed to participate will be heading off for the busy charter season straight after the show dates. New dates for 2021 are already being considered.
EBRD boosts support for companies as a result of COVID-19
by David Robinson
The European Bank for Reconstruction and Development (EBRD) has indicated that it is planning to boost support for companies across its region of operations, which includes some 40 countries, to help them deal with the COVID-19 situation. The bank has, and continues to be, associated with a number of marine-sector activities.
“The bank, which invests across 38 emerging economies, is preparing a package of measures to present to shareholders for approval,” according to an EBRD press release. “The proposals are expected to include the establishment of a resilience framework for existing clients that would provide emergency short-term liquidity, working capital, trade finance and restructuring for companies with strong business fundamentals temporarily affected by the crisis.”
It added: “The response will put a premium on providing a rapid response to the needs of companies that are suffering from the effects of the coronavirus and the global economic turmoil that has ensued. The package of emergency measures comes as the EBRD is already pledging strong support generally for its existing countries of operations and follows a record level of investment of €10.1bn in 2019.”
Among the countries with important marine leisure sectors that the bank operates in are Russia, Turkey, Croatia, Greece, Poland, Estonia, Lithuania, Montenegro, Cyprus, Egypt, Tunisia and Jordan. EBRD suggested that he tourism sector “is likely to be affected in many of the EBRD countries of operation.”
IMO postpones MEPC meeting due to coronavirus
by David Robinson
While primarily related to commercial ship operations, with the size of superyachts increasing, the influence of IMO decisions is growing in relevance in the global yacht market. As a result of COVID-19 the International Maritime Organization’s (IMO) has postponed a meeting of its important Marine Environment Protection Committee (MEPC) meeting due at the end of March, to an as yet undecided new date.
IMO said it had postponed the MEPC and some other meetings due to the COVID-19 outbreak. “Taking into account the rapid increase of cases worldwide and the continuing difficulties for some delegates from IMO Member States travelling from abroad to attend IMO meetings”.
Due to be held March 30-April 3, 2020, the 75th MEPC meeting was set to make decisions on the IMO’s important plans related on emissions and greenhouse gas reductions. The rescheduled date for the meeting is to be confirmed.
METSTRADE – as scheduled
17-19 November, Amsterdam, Netherlands
A statement on the METSTRADE website says: “METSTRADE will be held as planned from 17-19 November 2020. We, RAI Amsterdam and organiser of METSTRADE, are closely following developments related to the coronavirus (COVID-19). We are in contact with specialised institutions and partners. Updates on precautions and measures in place at RAI Amsterdam can be found here. We will continue to stay vigilant and stand ready to implement enhanced measures should the situation require it.”
One of two confirmed COVID-19 cases in Fond du Lac County, Wisconsin is a Mercury Marine office worker at its headquarters campus, and the company is encouraging any employees who can, to work from home while instituting other precautionary measures.
NMMA, the US marine trade association and show producer, announced the cancellation of its Northwest Sportshow in Minneapolis, scheduled for 2-5 April. A final decision on the industry’s annual gathering in Washington DC in May is still pending.
Quebec City Boat Show – ended early
12-15 March, Quebec City, Canada
The 2020 Quebec City Boat Show kicked off at noon yesterday only to close its doors and cancel just seven hours later in the wake of an emergency ban on indoor events with more than 250 people imposed by the Quebec provincial government.
Edmonton Boat & Sportsmen’s Show – ended early
12-15 March, Edmonton, AB, Canada
Canadian National Sportsmen’s Shows closed the 2020 Edmonton Boat Show at the end of its first day in compliance with a government ban on indoor gatherings of more than 250 people as a result of the worsening Covid-19 coronavirus pandemic.
The show, one of Canada’s largest and most economically important, was to have run through this weekend at the Edmonton Expo Centre.
Toronto International Sportsmen’s Show - cancelled
18-22 March, Toronto, Ontario, Canada
Following advice from local health care officials, the 2020 Toronto International Sportsmen’s Show, which included a significant retail display of aluminium and fibreglass fishing boats, has been postponed to 2021 over concerns about the Covid-19 coronavirus. This marks the first time in its 73-year history that the event has been cancelled.
Palm Beach International Boat Show & Superyacht Show Palm Beach – postponed
26-29 March, Palm Beach, Florida, USA
Having just issued a statement on 10 March that the show would go on, Informa US Boat Shows posted a statement on the event’s website on Thursday stating the show will be postponed due to global health concerns.
The Superyacht Gathering - cancelled
25-27 March, Auckland, New Zealand
The second edition of The Superyacht Gathering has been cancelled because of the spread of COVID-19.
The Round-the-World Clipper Race has cancelled a call at Qingdao, China which was a visit planned as part of the 2019-20 race.