All articles by Subscriber-only – Page 291
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NewsYamaha extends shut down at outboard engine factories
Following a previous announcement on April 9th concerning the closure of its principal outboard engine factories during May, Yamaha Motor has now decided to extend the shut down at its Fukuroi and Yatsuhiro plants for a further two weeks until the 15th of June. According to the earlier statement, the ...
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NewsAmerican Boating Congress: US economy should see year-end rebound
Low oil prices, small business and manufacturing to lead recovery
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NewsHK trade association calls for more government support
The Hong Kong Boating Industry Association (HKBIA) has issued a Covid-19 Relief Report that outlines the current challenges facing the boating industry and the importance of government support during the COVID-19 pandemic. The HKBIA represents all sectors of the leisure boating industry in Hong Kong, one of the main centres ...
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NewsAmerican Boating Congress opens in DC and 800 other locations
NMMA president Frank Hugelmeyer said Americans will seek outdoor adventures close to home for the foreseeable future More than 800 members of the US boating industry descended on Washington, DC for the annual American Boating Congress (ABC) Wednesday, but did so via laptop, tablet and mobile phone ...
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NewsElan to restart production next week
Elan’s managing director, Marko Skrbin, told IBI that the company ceased all production on the 16th of March in order to comply with government recommendations and in the interest of the safety of the company’s staff. As a result, the launch of its new GT6 sailing yacht has been ...
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NewsQ1 sales and profit up at Sanlorenzo
The board of directors at Italy’s Sanlorenzo Group approved the financial results for the builder’s first quarter ended March 31, confirming the prior forecast for improved revenues and profitability, along with a solid backlog
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NewsGrand Banks resumes operations
The Board of Directors of Grand Banks Yachts Limited announced today that the group’s manufacturing yard in Pasir Gudang, Malaysia has received approval from the Government of Malaysia to resume operations with immediate effect. Grand Banks Malaysia Grand Banks’ production facility in Malaysia employs 667 workers. The ...
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NewsItalian yards come to terms with new working conditions
With most, if not all, of Italy’s yacht-builders having returned to work this week, many are coming to terms with the health and safety rules set by the government, medical authorities and trade unions to cope with the COVID-19 pandemic and support a gradual easing of the lockdown. A survey ...
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NewsMalibu Boats feels Covid pinch in otherwise strong Q3 results
Malibu Boats CEO Jack Springer said the company’s third quarter was a “tale of two environments”, reflecting the impact of Covid-19 Tennessee, US-based boatbuilder Malibu Boats Inc said its third quarter of 2020 started off strongly before plant and dealership closures related to the arrival of the ...
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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 jumped ...
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NewsEU 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 the ...
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NewsCovid-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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NewsFLIR 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 strength ...
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NewsStrong 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 both ...
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NewsCoronavirus 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 of ...
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NewsLippert 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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NewsSpanish nautical sector asks government for urgent support
Spanish industry association ANEN has released new figures showing a 77% drop in boat registrations for the month of April and a 37.3% drop in registrations for the first four months of the year. All lengths and sub-sectors of pleasure boats have been affected by the Covid-19 pandemic. Tourist demand ...
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NewsTwin Disc Q3 results shored up by ‘stable marine demand’
The US-based manufacturer of marine power transmission equipment reported an 11% drop in sales for its third quarter ending 27 March, to $69 million
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NewsHow will autumn boat shows manage the ‘new normal’?
Show organisers are under pressure to reveal plans for upcoming autumn shows as one of the industry’s most important marketing channels
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NewsCould Covid-19 boost boating interest long-term?
Discover Boating campaigns are gaining some traction as frustrated consumers wake up to boating
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