Latest News – Page 551
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GEM Products awaiting expansion approval
Despite an unknown “virus hangover”, GEM Products is moving forward with expansion plans, currently awaiting local government approval.
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AkzoNobel Q1 profitability up 31%, but revenues down 6%
Paints and coatings giant AkzoNobel posted a 31% rise in Q1 profitability – to €214m – but saw its revenues sink to just over €2bn, a drop of 6%.
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Dutch yard reports strong first-quarter sales
Zeelander Yachts says business was up 30% in the first three months of the year
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Russia’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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Sanlorenzo reopens, aiming for limited financial impact
Sanlorenzo’s Executive Chairman Massimo Perotti reported to shareholders today that all of the yacht builder’s facilities were operational as of 20 April and the company is aiming for a limited impact on results for 2020
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Ferretti signs protocol to stop spread of Covid-19 in the workplace
Italy’s Ferretti Group has announced that it is one of the first companies in Italy to sign a protocol with national, territorial and local trade unions to combat the spread of the new coronavirus, Covid-19, in the workplace.
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US marina claims $3m in damages from shipping line
The Port of Kalama in the US state of Washington has tripled its damage estimate to US$3m, and has filed suit against SM Line Corp (SM), owner of the container ship alleged to have damaged facilities and privately owned boats when it passed the marina at excessive speed early in ...
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America’s Boating Club launches weekly online magazine show
The volunteer-run America’s Boating Club, also known as United States Power Squadrons, has launched a new weekly online magazine show as part of its boating video and boater education digital media channel. America’s Boating Channel LIVE was created by volunteers to help recreational boaters cope while sheltering during the Covid-19 ...
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MB92 announces gradual return to work
MB92 Group has announced that it has restarted activities at its refit and repair facilities in Barcelona and La Ciotat.
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Typhoon International appoints operations director
Typhoon International Ltd, a UK manufacturer of wetsuits, drysuits and marine accessories, has appointed James Saunders as its new operations director.
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U-Boat Worx of Netherlands starts production line of small subs
U-Boat Worx is hoping to tap into a larger market U-Boat Worx has added to its range of submarines a small, lightweight two-seater sub called the Nemo that can dive to 100m (330ft) of depth for up to eight hours and fits on a wider range of ...
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New: IBI Marine Stock Tracker
IBI has compiled a new service for readers on its website tracking more than 20 publicly traded marine companies on stock exchanges around the world.
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Azimut-Benetti to make partial start to a full reworking
While the regional government for Tuscany has stated that a full return to work would not be made until May 4, it has reportedly allowed the Azimut-Benetti Group to go ahead with an initial restart that involves around 500 or so workers, about one-third of the total workforce.
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Century Boats sold to PE firm
Private equity firm Sorfam Capital today announced that it acquired Century Boats in the middle of March for an undisclosed sum.
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RV analyst sees no economic improvement before 2021
The recreational vehicle (RV) market in the US should bottom out during the current second quarter, but the industry faces a “long and bumpy road” to an economic recovery that won’t be seen before 2021 at the soonest, according to the industry’s leading analyst. The RV and recreational boating industry ...
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EU roadmap for lifting of COVID-19 containment measures
The European Boating Industry association (EBI) has provided the following update from the EU recommending a coordinated approach to lifting Coronavirus restrictions across the region
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Alia turns hull of first 36m all-aluminium shadow vessel
Turkey’s Alia Yachts has turned the aluminium hull of its 36m shadow vessel slated for delivery in 2021. Once complete it will support Project Phi, the 55m mothership currently in build at Royal Huisman in the Netherlands.
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Gurit reports Q1 results, COVID 19 impact
Gurit reported net sales of 136.1 million CHF in Q1, amidst a significant impact on its Asian business in the first quarter
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NEEL Trimarans increases equity base with two new investment funds
For French multihull yacht builder NEEL Trimarans, 2020 will be a memorable year not only because of COVID-19. More significantly 2020 is the company’s 10th anniversary and it has taken steps to expand its equity base to underpin its future expansion. Earlier this year at boot Dusseldorf, the group announced ...