All articles by Subscriber-only – Page 292
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NewsNew hydrogen fuel cell initiative involves ABB and HDF
With the growing interest and discussion about the potential use of hydrogen as a fuel for superyachts, a new initiative to manufacture megawatt-scale fuel cell systems in France may move the whole process forward. If successful, it will also help reduce carbon emissions in the maritime sector. The new initiative ...
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NewsBrunswick Q1 ‘resilient’ despite COVID-19 impact
Brunswick Corporation released first quarter 2020 financial results and reported a strong pre-coronavirus performance, with “resilient operating margins despite COVID-19 impact”
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NewsDutch superyacht sector crafts new home
The Dutch superyacht lobby has moved into new digs, but its shift from HISWA Holland Yachting Group into a unit of the Netherlands Maritime Technology (NMT) trade group has been slow due to the Covid-19 pandemic.
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NewsBeneteau responds to crisis
Beneteau has restarted production at three of its sites as half year earnings announced; CEO takes salary reduction, new strategic plan to follow in July to reflect deep transformation of its markets
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NewsPolaris reports a 6% drop in Q1 sales
The outdoor vehicle specialist has withdrawn revenue and earnings guidance for the rest of 2020 but currently thinks the recovery will take ’more of a U shape’ – with demand weakest in the second quarter
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NewsCovid-19, production adjustments lead to tough Q1 for Marine Products Corp
Marine Products Corp, manufacturer of the Chaparral, Robalo and Vortex fibreglass boat brands, released its 2020 first quarter financial results on Wednesday reporting double-digit declines in net sales, gross profits and operating profits.
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NewsStrong quarter at Grand Banks, but sharp decline expected
After logging new sales in the quarter ending March 31, Grand Banks anticipates a sharp downturn and more layoffs in light of an extended shutdown at its main Malaysian plant
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NewsLippert Components to relaunch US production on May 4
Enhanced safety measures allow global equipment manufacturer to resume operations at more than 70 US plants
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NewsPolish catamaran builder launches new electric range
Poland’s Sunreef Yachts has launched a new range of eco-friendly catamarans fitted with fully electric and hybrid propulsion systems. Initiated by the first electric Sunreef 50 and Sunreef 60 cats, the range was promoted at a virtual press conference in the presence of Formula 1 champion Nico Rosberg who appeared ...
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NewsUS boaters rally for a return to on-water activity
From coast-to-coast and border-to-border, boaters in various parts of the US held on-water parade rallies to call attention to the plight of commercial operators, while encouraging lifting restrictions on boating, fishing and other activities banned or greatly curtailed by social distancing practices aimed at curbing the spread of the COVID-19 ...
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NewsYacht transport continues despite uncertainty over Med season outlook
While the future of the Mediterranean season for yacht and superyacht cruising and charter is unknown at this point in time, arrangements to transport yachts into key Med locations continues apace. Taking the yachting centre of Palma in Mallorca as an example, a number of yacht transport ships have been ...
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NewsKiwi builders return to work as NZ lockdown measures ease
As New Zealand prepares for an easing of lockdown measures at 11:59pm tonight, Kiwi boatbuilders are looking forward to returning to work on Tuesday under Level 3 restrictions. When Level 4 lockdown came in over five weeks ago, Kiwi boat manufacturers, along with the rest of the country, had to ...
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Market Overview | Denmark
Full order books and momentum from a healthy 2019 have bought builders and their suppliers vital time in the COVID-19 battle
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Market Overview | Finland
Off the back of one of the most positive Helsinki boat shows in years, Finland’s marine industry had been looking forward to a buoyant 2020. Now it waits anxiously to see what tomorrow brings
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Market Overview | Gemany
Cracks were already beginning to appear in the industry, despite a buoyant Boot Düsseldorf, with growing sales of bigger boats masking softness in other sectors. Covid-19 has now set alarm bells ringing
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NewsVolvo struggles to define ‘new normal’
The Volvo Group – parent company of Volvo Penta – released financial results for the first quarter of 2020, revealing the severe impact of Covid-19 on the company’s global operations and continued uncertainty about what demand will look like once the crisis subsides. Marine division revenues weakened somewhat towards the ...
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NewsSwedish builder maintains production at full capacity
Similar to many other manufacturing businesses in Sweden, boatbuilder Hallberg-Rassy continues production activities despite the coronavirus outbreak. However, the restrictions on foreign travel are making it difficult for some of its customers to pick up their yachts, according to senior company representatives. Magnus Rassy, the chief executive of Hallberg-Rassy, told ...
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NewsMarineMax Q2 results up; “partially impacted” by coronavirus
The largest national retailer of boats and yachts in the US is reporting slightly improved fiscal second quarter results while bracing for the full impact of the coronavirus pandemic. Nonetheles, MarineMax said it has seen strong online interest and even an uptick in sales for April.
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NewsNetherlands: longer lockdown puts 20,000 sector jobs at risk
The Netherlands has extended its coronavirus lockdown through May 20, piling on the economic pain for the boating and leisure sectors that expect damage to total €1bn. The HISWA-RECRON lobby also says close to 20,000 jobs are at risk. It has expressed dismay that the government has not yet accepted ...
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NewsRussia’s message urging boat owners to keep yachts closer to home falling on deaf ears
The number of yachts registered within the Russian jurisdiction continues to be low, despite attempts by the Russian state to convince domestic owners to keep their boats within Russian waters, according to representatives of the Russian Ministry of Sport and Tourism. In recent years, the Russian government has provided a ...
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