Market News – Page 411
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NewsCase against Tectrax struck out in High Court
Sealegs International and its parent, Future Mobility Systems, have withdrawn their High Court claim against fellow New Zealand-based company Tectrax for alleged infringement of copyright in the unique arrangement of features in the Sealegs amphibious system.
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NewsMIBS Industry Breakfast: US boating needs to recapture market share and get loud
The US recreational marine industry needs to get loud with elected officials and work hard at recapturing lost market share, according to National Marine Manufacturing Association (NMMA) president Frank Hugelmeyer, addressing his first Miami International Boat Show (MIBS) Industry Breakfast since taking his position late in 2019.
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NewsGrand Banks reports 10-year high for order book
Singapore-based boat builder of the Grand Banks and Palm BeachMotor Yacht brands posted a strong first half with a 66% increase in net profit to S$2.0 million (US$1.5m) and a net order book worth S$64 million (US$46m); the company’s Palm Beach GT60 (above) makes its debut at the Miami show ...
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NewsRiviera signs on record number of apprentices for 2020
Boatbuilder welcomes 80 budding boatbuilders to its annual training program
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NewsIn difficult times, Belgian boating sector shows its can-do
The annual Belgian Boat Show in Ghent is roaring back There are no more boatbuilders in Belgium. Belgian boaters are greying, hurting sales and marinas. But the Belgian sector is making good tracks in undoing the damage of changing market conditions. The annual Belgian Boat Show in ...
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NewsM/Y Luna free to leave Dubai?
The UAE-based English language newspaper Gulf News has reported that the $450m megayacht Luna, part of London’s largest divorce case, may finally be allowed to set sail from a Dubai port. The Gulf News article states: “The 115m (380ft) M/Y Luna has been holed up in Dubai while lawyers for ...
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NewsTokyo boat show to go ahead
The coronavirus outbreak is not currently recognised as an epidemic in Japan
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NewsNauticStar unveils 191 Hybrid at MIBS
NauticStar Boats’ new 191 Hybrid features a new hull designed for rough water stability at a very affordable price – perfect for families in the US and Europe, except for those pesky tariffs.
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NewsScenic Group launches new superyacht cruise venture
Scenic Group, the Australian cruise ship group, is expanding its portfolio of activities with the new Emerald Yacht Cruises venture. Set up as a division of Scenic’s Emerald River Cruises arm, the new venture will start operations next year with the 110m (360ft), 100 guest-vessel, Emerald Azzurra, currently in build ...
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NewsSanlorenzo’s 2019 preliminary results show 39% growth in revenues
Following its IPO in December, Italian yachtbuilder Sanlorenzo posts strong gains in sales and profitability with EBITDA up 73.4% to €66m
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NewsChinese companies struggle to meet commitments
Many marine companies in China are still unable to recommence production after the extended three-week New Year shut down.
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NewsBorrow A Boat pursues third crowdfunding round
The UK-based Borrow A Boat company, which aims to be the Airbnb of the boating world, is currently undertaking a third round of crowdfunding to raise a target of £1.5m. Requests to invest led to this round, rather than doing a private shareholder fundraising round with support of venture capital ...
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News1st Australia Thailand Rendezvous a success
The inaugural Australia Thailand Rendezvous, sponsored by Benetti Yachts, took place at Phuket Yacht Haven Marina in Thailand last week. Organised by Superyacht Australia, the event attracted 14 vessels with captains and crew and provided an update on what is happening in the Australian superyacht industry along with the benefits ...
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NewsVancouver show numbers down, but exhibitors happy with sales
In spite of a minor dip in attendance, exhibitors at the 58th annual Vancouver International Boat Show say qualified buyers made for a successful five-day show.
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NewsMercury Marine’s technology, product mix unveiled in Miami
Attending his first Miami International Boat Show (MIBS) as Mercury Marine president is “a little bit intimidating,” admits Chris Drees, who took the helm at the company following two years of more than 150 engine model introductions, but he doesn’t feel any pressure.
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NewsMarine sales outpace consolidated results at Yamaha Motor
Japan’s Yamaha Motor reported a dip in 2019 sales, offset by 2% growth in the company’s Marine business which accounts for 21% of annual revenues
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NewsTaiwan show postponed
As the full effects of the coronavirus becomes apparent, another boat show due to be held in South East Asia has been postponed. The organisers of Taiwan International Boat Show (TIBS), which would have been held from 12-15 March in Kaohsiung, have announced that it has been postponed and that ...
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NewsVolvo Penta begins production of Seven Marine outboards in Tennessee
Volvo Penta has announced the start of production and assembly of Seven Marine outboards at its facility in Lexington, Tennessee. As of January 2020, the entire line-up of Seven Marine engines has been incorporated into the Volvo Penta production process.
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NewsNew York State considers ‘wealth tax’
Face with budget shortfalls and looking to fund an ambitious new program, Democratic lawmakers in New York state are gaining support for tax proposals aimed at its wealthiest residents, which include a rollback of sales tax exemptions on megayachts and private airplanes.
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NewsStrong demand and positive figures at Gothenburg show
Mid-sized, outboard-powered boats from 5m-7m were particularly popular
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