Market News – Page 465
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News
DP World boosts revenues by 20%
DP World, the parent company of P&O Marinas, Dubai Maritime City and Drydocks World, has reported a 20% increase in revenues for the financial year ended December 31, 2018. The acquisition of Dubai Maritime City (DMC), a key facility for yacht repair, maintenance and refit work, along with the purchase ...
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News
Sales tax could sink Connecticut boating industry
Connecticut Governor Ned Lamont’s proposed 6% sales tax on boats was met by a regatta of boaters and industry professionals sailing into the state capital to inform lawmakers just how devastating the increase could be to the state.
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NewsLowrance founder dies at age 80
The man credited with creating the first recreational fish-finding sonar, Lowrance Electronics founder Darrell Lowrance, died Saturday at age 80 following a stroke.
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NewsInternational sail-maker to open new sales location on US northeast coast
International sail-maker North Sails is opening a sales office covering the US northeast coast. The new office, located at Newport Shipyard in Rhode Island, will open on May 1, 2019.
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NewsEU adds Bermuda to tax haven blacklist
Bermuda is one of 15 countries that has been blacklisted by the EU for not having proper governance over tax standards. With Bermuda a leading superyacht flag and location for ownership structures, its blacklisting could have a direct impact on the yacht sector. The EU move appears to have come ...
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NewsTohatsu names new distributor for the Benelux
This is the Japanese engine maker’s second recent change in its Europe distribution network
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NewsDiscovery Yachts Group to work with Berthon in Spain
A new partnership has been established between the UK’s Discovery Yachts Group and the Spanish arm of the UK’s Berthon Group. The two companies will work together to deliver sales and service in the Balearic Islands, with Berthon Spain becoming Discovery’s ‘brand ambassador’ for the region.
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NewsIndustry mourns Iconic Marine COO
Joe Curran, the 55-year-old chief operating officer of Iconic Marine Group, died Wednesday from complications of stomach cancer.
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NewsHK industry association celebrates first year
The Hong Kong Boating Industry Association (HKBIA) is now one year old and has firmly established itself as the ‘go to’ organisation for all matters concerning the pleasure boat industry.
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NewsFirst Custom Line 106 touches water
Custom Line, part of Italy’s Ferretti Group, launched its first Custom Line 106’ in Italy last week. The second member of the new planing range by Francesco Paszkowski Design took to the water at Ferretti’s Superyacht Yard in Ancona on Thursday.
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NewsUK boating sector reports seventh consecutive year of growth
New figures from UK industry association British Marine show that the country’s boating sector grew for the seventh consecutive year in 2018, with total revenues up by 1.7% to £3.17bn.
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NewsSA builder adapts cat for users with disabilities
South African catamaran producer Vision Yachts has launched a specially adapted version of its flagship Vision 444
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NewsJay Povlin named NauticStar president
MasterCraft Boat Holdings (MCBC) has named Jay Povlin as president of its NauticStar fibreglass fishing boats division, effective immediately.
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NewsTohatsu-Yanmar tie-up
The two Japanese companies will partner on production of a new fishing boat targeted to the domestic leisure market
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NewsSeawork plans larger Superyacht Trail for 2019
The three-day commercial marine and workboat exhibition is also planning new areas with leisure marine features
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NewsTrump: “No rush” on China trade deal while USMCA meets roadblocks in Congress
While there is movement on multiple fronts of the US trade war, it remains unclear if it is forward movement or merely wheel-spinning
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NewsLumishore launches innovative glass bridge touchscreen and rotary dial display
UK-based LED lighting specialist Lumishore has released a new glass bridge touchscreen and rotary dial display that offers powerful functionality with an attractive interface panel.
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NewsMontenegrin marina development wins Best in Europe award
With marinas increasingly becoming ’destinations’ rather than just places to moor a yacht, added-value facilities are playing an increasingly important role. Three Eastern Mediterranean marinas – two in Montenegro and one in Northern Cyprus – support this trend, winning awards for their high-quality development.
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NewsPositive outlook for Italian market as Genoa show registration opens
Registration for this year’s Genoa Boat Show, which runs from September 19-24 in the port of Genoa, is now open. Now in its 59th edition, the 2019 event is expected to be bigger than last year’s show, having been heavily promoted by Italian marine industry association UCINA at IBEX, FLIBS, ...
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NewsKVH reports strong Q4, 2018 full-year financials
Revenue gains in its fourth quarter supported a strong fiscal 2018 for Middletown, Rhode Island-based mobile connectivity and inertial navigation systems provider KVH Industries as the company released its Q4 and 2018 full year results.
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