All News articles – Page 8
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NewsRevenues up 27% at US mega-dealer OneWater
Mega boat retailer OneWater Marine has reported a strong start to the second quarter, driven by used-boat sales and finance insurance which offset the volatility created by the COVID-19 pandemic. The company reports new-boat sales ticked up just under 1% – from US$126.9m to US$127.9m, while pre-owned sales ...
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Social Navigator launches new service for ‘virtual’ interaction with clients
3D Voyager utilises ultra-high-resolution 3D scanning on boats and other spaces
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Nexus Yachts confirms two new Balance 526 orders as SA yards reopen
South African yard Nexus Yachts and Balance Catamarans report two more Balance 526s on their order book, bringing some much-needed good cheer to the local industry which this week reopened under strict social distancing conditions .
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Financial businesses take action on COVID-19
Two financial businesses – a Bermuda-headquartered international insurer and a leading French bank – are taking steps to provide the financial resources to cover for the impact of the COVID-19 pandemic.
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EU headed for ‘deep, uneven recession of historic proportions’
The EU head office says the coronavirus pandemic is savaging the European Union economy this year, creating a “recession of historic proportions”. It adds Western Europe will not fully recover until at least the end of 2021. In its spring economic forecasts, the European Commission says the economies of ...
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Covid-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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FLIR 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 ...
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USVI 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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Orion 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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Strong 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 ...
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FLIR 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 i nitially 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 ...
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Dream 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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SMM 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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Sanlorenzo 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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Damen 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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HK 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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Coronavirus 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 ...
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Global 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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Lippert 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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Filippetti 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.
