Latest News – Page 625
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NewsCovid-related production disruptions lead Mastercraft to $36.7m Q3 loss
March production cutbacks lead to 20% YOY drop in net sales, 32% drop in gross profit
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NewsFLIR Systems announces solid Q1 and intention to keep Raymarine
FLIR Systems CEO Jim Cannon said the Covid-19 pandemic “has resulted in disruptions to our supply chain, as well as significantly reduced sales” Virginia, US-based FLIR Systems Inc released its 2020 first-quarter results on Wednesday, posting a 1.4% year-over-year revenue increase for the quarter on the strength ...
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NewsUSVI welcomes tourists 1 June
The US Virgin Islands (USVI) is targeting 1 June as a return to tourism under a five-tiered system aimed at transitioning back to business at a safe pace, with new rules in place.
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NewsOrion and Smuggler awarded High Court costs from Sealegs
Following a lengthy court battle lasting almost four years, the Auckland High Court in New Zealand has sealed an order for costs against amphibious boatbuilder Sealegs. This brings the total of costs awarded against Sealegs to circa $500k with the costs to be paid immediately.
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NewsStrong demand for marine equipment in Sweden, Norway
Byggplast/Sea Sea CEO Joakim Berner says the aftermarket is thriving The start of the boating season has been very good for companies selling boat equipment – especially in Sweden and Norway, where wholesaler Byggplast and retailers SeaSea, Hjertmans and Maritim (with more than 50 shops in both ...
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NewsFLIR withdraws Raymarine sale
In discussion with analysts on the company’s first quarter results today, FLIR Systems has confirmed that it has withdrawn the sale of Raymarine initially announced in late February. FLIR president and CEO Jim Cannon told investors that prior to the outbreak of Covid-19, the company was well-advanced in the ...
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NewsDream Yacht Charter to open new base in US Virgin Islands
Dream Yacht Charter, a privately-owned yacht charter firm with a fleet of over 1,250 boats, is to open a new Caribbean base on June 1 at Compass Point Marina in St Thomas, US Virgin Islands, in partnership with Virgin Islands Yacht Charters.
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NewsSMM 2020 moves to new February 2021 timing
Next year’s trade fair will be the first international gathering of the maritime industry in 2021
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NewsSanlorenzo signs €10m financing contract
Italian superyacht-builder Sanlorenzo has signed a €10m financing contract with Cassa Depositi e Prestiti (CDP), a prominent Italian investment bank, to fund new investment in research, development and innovation for the period from 2020-2022.
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NewsDamen Shipyards Group launches yachting division
Family-owned Damen Shipyards Group has formally created a division housing its Amels superyacht unit, its Yacht Support and SeaXplorer brands, its Full Custom yachts and yacht refit services.
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NewsHK designer unveils small electric commuter craft concept
Michael Young, a Hong Kong-based boat designer, has introduced a range of new designs for small electric commuter boats.
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NewsCoronavirus shutdowns bring lower Q2 sales, income for Johnson Outdoors
Shelter-in-place orders during the Covid-19 pandemic hurt Johnson Outdoors’ watercraft business, which posted a Q2 operating loss of $1.63m Wisconsin, US-based marine equipment manufacturer Johnson Outdoors Inc released its 2020 second-quarter results on May 5, reporting declines in both sales and net income as a result of ...
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NewsGlobal Covid-19 update | 5 May
The International Council of Marine Industry Association (ICOMIA) and its member associations are providing regular updates to a ’living’ State of the Industry report tracking the latest regulations regarding COVID-19 and the specific impacts on the boating sector in countries across the world.
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NewsLippert reports mixed Q1 results, but says acquisitions still in view
Profitability declined due to coronavirus-related shutdowns offsetting sales gains and an otherwise strong start to FY 2020
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NewsFilippetti and Twin Disc sign commercial agreement
Italian shipyard Filippetti Yacht has signed a commercial agreement with Twin Disc Inc in the US to power all of its performance with yachts with Twin Disc’s Arneson Surface Drives (ASD) system.
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NewsAIG takes major hit from COVID-19 with quarterly profits down 93%
AIG (American International Group), a major player in the international superyacht insurance market, has reported a 93% fall in quarterly adjusted profits largely due to COVID-19, which it describes as “the single largest catastrophe loss the industry has ever seen”. Part of the fall was due to money put aside ...
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NewsNorth Sails supplies medical facilities in Japan
The Japan unit of sail manufacturer North Sails has switched to making gowns for medical personnel fighting the coronavirus.
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NewsNuvolari Lenard completes work on Venetian hybrid water taxi
Italian design firm Nuvolari Lenard recently completed work on a new Venetian water taxi whose hybrid propulsion system will help preserve the historic city through the use of ‘green’ technology.
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NewsHexcel obtains DNV GL type approval
Hexcel, the US supplier of advanced composite materials to the marine and other markets, has announced that its HexPly M79 prepreg materials have achieved Type Approval Certification from DNV GL.
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NewsGreece extends yacht lockdown
The Greek National Commission for the Protection of Public Health has announced that all private leisure boats and commercial craft, regardless of flag, are prohibited from departing or arriving within the Greek Territory between Monday 4 May at 6am until Monday 18 May at 6am for precautionary public health reasons. ...
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