Sector News – Page 437
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NewsNorwegian builder invests in Lithuanian facilities
Marex is expanding its foreign presence amid rising sales
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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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NewsLippert discusses 2019 results & 2020 outlook
Recent acquisitions in the marine sector are expected to be among the company’s strong performers in 2020
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NewsGlobal tender for new Mumbai marina to launch this month
The Mumbai Port Trust (MPT) will shortly announce a global tender for the construction of a new 300-berth marina proposed for Princes Dock in the port of Mumbai. According to a report in the Free Press Journal, the value of the project is estimated at Rs 360 crore (US$50m).
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NewsHISWA Orange Yachting Group weighs new trade, marketing strategy
Having lost its superyacht unit, the former HISWA boating trade group in the Netherlands has merged with the RECRON leisure sector lobby. The HISWA-RECRON merger responds to new vacationing patterns and will raise export and trade promotion of Dutch builders of yachts to 50m (164ft) and their supply chain.
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NewsBusy start to 2020 for McConaghy in both China and Australia
McConaghy, the specialist raceboat and multihull yacht builder, has had a busy start to 2020 at both its yards in China and Australia.
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NewsScout to unveil multiple new models at Miami show
Fibreglass boat builder Scout Boats will unveil a number of new outboard-powered day boat models at the Miami Boat Show this week which reflect unique design elements achieved through its vertical integration strategy.
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NewsFinnboat reports thriving export market
Finnboat, the Finnish marine industries association, has announced that its member companies generated nearly €600m in sales last year – a 10% increase over the previous 12-month period. Employment improved and exports are growing strongly.
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NewsOCIBAR acquires Spanish superyacht marina
OCIBAR, the Spanish marina management company, has significantly expanded its operation with the acquisition for an undisclosed sum of the Port Tarraco superyacht marina in Tarragona. The purchase was made from the Qatari Diar Fund, which is linked to Qatar’s sovereign wealth fund.
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NewsYamaha expands technical school partnership program
Yamaha Marine has expanded its technical school partnership program in the US with the official grand opening of a new marine technology building at National Park College in Hot Springs, Arkansas.
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NewsMalibu Boats reports solid Q2 sales
Higher sales, higher unit volumes and higher net sales per unit lead to solid second quarter for US boatbuilder
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NewsGetMyBoat docks in Uganda
The Republic of Uganda – searching for ways to better utilise its water resources – is turning to tourism, and GetMyBoat.com is jumping on board to not only draw visitors to the country’s lakes, but enable local Ugandans access to safe, quality boats for transport and entertainment.
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NewsBeneteau confirms positive outlook for 2020
French boatbuilder Beneteau Group confirmed a positive financial outlook for the Boat Division’s 2019-2020 financial year, based on ‘robust’ trends in European and charter markets
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NewsMisty Harbor to close Iowa plant
Pontoon boat manufacturer Misty Harbor is closing its manufacturing plant in Iowa to consolidate operations at its headquarters in Indiana “to optimise operational efficiency and reduce logistical costs, the company announced Monday afternoon. 45 employees will lose their jobs.
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NewsSofter Q2 for MasterCraft
MasterCraft Boat Holdings Inc reported declines in net sales, net income and adjusted ABITA in its 2020 second quarter results, reflecting impacts of a weather-dampened summer 2019 retail season and subsequent measures to “right-size” dealer inventories.
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NewsMarinas and yachting contribute 1.41% to Greek GDP
Further marina privatisations anticipated to add another 1%
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NewsSeven Asian boat shows cancel or review dates
Korea and Hong Kong shows postponed in response to the Coronavirus threat, while other Asian show organisers are closely monitoring the situation
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