Sector News – Page 459
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NewsSY services firm anticipates ‘better than expected’ full-year results
After a challenging 2018, the Global Yachting Group (GYG) has issued a trading update that suggests the “positive momentum” experienced in the first half of 2019 will result in a “profit performance for the full financial year that will be ahead of current market expectations”.
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NewsEnterprise Florida creating jobs through export growth
With only 4% of US companies exporting goods, state organisations like Enterprise Florida play an important role in helping businesses move into foreign markets with the goal of stimulating job growth through export growth. So, it’s no surprise that nine of the 13 US exhibitors at the Sydney International Boat ...
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NewsMaritimo pursues ambitious global expansion plan
An active new model launch programme, major facility investment, and increasing the global reach of its international dealer network are all facets of the ambitious expansion strategy for Maritimo, the Australian luxury yacht builder.
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Polish boatbuilder to invest $3.9m in new production hall
Polish boatbuilder Northman has unveiled plans to invest some PLN 15m (US$3.9m) to build a new production hall. The project is related to increased demand for the manufacturer’s craft.
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NewsInflatable watercraft, paddles gain exemption from US tariff list
The Office of the US Trade Representative (USTR) has announced that certain inflatable boats, kayaks, canoes and paddles have been excluded from a list of Chinese imports subject to tariffs.
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Yacht broker sues developer for US$725,000 commission
A pair of lawsuits that span the Eastern seaboard of the United States are pitting a New York real estate developer against his long-time yacht broker who claims he was cheated out of a US$725,000 sales commission.
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NewsRolls-Royce to rebrand Power Systems division
UK engineering group Rolls-Royce has announced that it is planning a rebranding of its Power Systems division which includes the core MTU brand. The latter is a top provider for supplying engines for superyachts.
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NewsIGY Marinas open new superyacht facility in France
As part of its strategic plan to build a strong presence in Europe, IGY Marinas has officially opened its new superyacht marina at Sète in the South of France. The purpose-built facility is able to berth the world’s largest yachts.
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NewsFocus on affordability at 2020 Smoker Craft dealer event
US independent boatbuilder Smoker Craft Inc unveiled a wide range of new models at its 2020 model year dealer meeting this week, with a clear focus on capturing market share among entry-level and mid-level buyers.
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NewsPorto Montenegro to invest €500m over 15 years
In recent interviews with news outlets in Montenegro and Serbia, Danilo Kalezic, the senior PR manager for Porto Montenegro, has suggested that over the next 15 years as much as €500m will be invested in the Montenegrin marina.
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NewsMixed 2019 Q1 results for Suzuki
Suzuki Motor Corp released its 2019 first-quarter results on Monday, revealing lower overall sales and profits attributed to a sagging Indian automotive market offsetting gains in the company’s marine and motorcycle business.
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NewsUS manufacturers hope to win over ‘Down Under’
The 52nd edition of the Sydney International Boat Show (SIBS) opened on Thursday with the first-ever USA Pavilion – a block of 15 equipment, component and boat manufacturers exhibiting in a single location as part of the National Marine Manufactures’ Association (NMMA) Export Development Program.
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NewsJoint Cypriot-Israeli venture proposes €1bn marina project for Larnaca
A Cypriot-Israeli joint venture company has submitted a proposal for more than €1bn for the development of the existing marina and port at Larnaca, which it would be the largest investment in Cyprus to date.
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NewsTrump threatens additional 10% tariff on Chinese goods
US President Donald Trump took to Twitter on Thursday afternoon threatening to impose a new 10% tariff on an estimated US$300bn worth of goods imported into the US from China
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NewsSunseeker London delivers three 100ft-plus yachts in July
UK yacht broker Sunseeker London today announced that it delivered three large boats with a retail value of over £50m in the month of July.today announced that delivered three large boats with a retail value of over £50m in the month of July.
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NewsKarpaz Gate Marina retains 5 Gold Anchors
Karpaz Gate Marina in North Cyprus has retained its 5 Gold Anchor award following assessment from The Yacht Harbour Association (TYHA) in the UK.
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NewsThe Boat Works doubles in size
The Boat Works, Australia’s largest shipyard and marina facility, has doubled in size to 54 acres (218,530sq m) and is on track to welcome the first superyachts to its new purpose-built facility by summer 2019.
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NewsNew €4m marina planned for northern Spain
A new marina is to open in San Vicente de la Barquera on the Spanish Mediterranean coast, thanks to an investment estimated to be worth some €4m (US$4.5m).
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NewsYar-Craft updates flagship model
Yar-Craft Boats’ dealers got their first look at the updated 2020 model year 219 TFX during the company’s annual “Excellence in Action” dealer meeting last week, learning why the Yar-Craft flagship model is being called an “unparalleled wave crusher” in marketing materials.
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NewsUSA Pavilion to debut at Sydney show
The debut of the USA Pavilion at the Sydney International Boat Show (SIBS) is a sellout, with 13 exhibitors, companies and industry stakeholders, according to the National Marine Manufacturers Association (NMMA), which organised the trade mission.
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