Sector News – Page 352
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US study says cost of onshoring supply chains from China could top $1 trillion
A new study by US-based Bank of America shows a growing appetite among manufacturers for repatriating overseas production in spite of potentially high costs A new research paper published by the Bank of America (BofA) notes an emerging shift among North American and European manufacturers toward onshoring ...
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GYG issues strong first-half trading update
CEO Remy Millott: “The team’s focus on improving margins is starting to flow through” Global Yachting Group (GYG), the UK-based superyacht painting, supply and maintenance firm, has issued a positive first-half trading update for the six months ended June 30, 2020. The announcement comes not long after ...
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Cannes Yachting Festival cancelled
IBI has learned that several exhibitors have been informed this morning of the cancellation of the Cannes Yachting Festival, from the organiser Reed Expo due to increasing worries about the incidence of the Covid-19 infection rate in the Alpes-Maritimes region. The show was due to have taken place from the ...
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Annapolis boat shows cancelled
In a discouraging development for the boating industry, the City of Annapolis announced yesterday that it was cancelling the US Powerboat and Sailboat shows scheduled for October, due to Covid-19 health concerns. The sailboat show – the largest in-water sail-only show – has a strong draw among international exhibitors and ...
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Riviera unveils new 50ft model
Gold Coast, Australian boatbuilder Riviera is introducing a new 50ft sports motoryacht to its line-up of larger 64, 68 and 72 models
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Drydock proposals sought by Puerto Rico Port Authority
The Puerto Rico Port Authority (PRPA) has issued a Request for Proposals (RFP) for up to US$20m in repairs and improvements to its World War II-era drydock facilities. Located at Pier 15 in Isla Grande, San Juan, the drydock was built in the 1940s and operated by the US Navy, ...
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Zin Boats looks to be ‘Tesla of the sea’
The Z2R can reach speeds of well over 30kt After 20 years designing racing sailboats while working for the likes of BMW and General Motors, Piotr Zin moved to a houseboat on Seattle’s Lake Union and started becoming concerned about the future. “The reason I started working ...
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VesselsValue introduces automated valuation platform for superyachts
New service covers over 6,000 superyachts over 24m with values back to 2012
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Canadian power equipment builder targets Europe
Xantrex hopes to build its European business on a new line of 230V inverter-chargers Burnaby, Canada-based electrical equipment manufacturer Xantrex aims to build its export business with a new product line developed specifically for the European market. The company says that its newly-announced Freedom XC 230V inverter/charger ...
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Cyclops Marine appoints Italian distributor
Cyclops Marine, the UK-based developer of load sensors for sailors, has chosen Velamania to serve as its new distributor for Italy. Velamania is said to be one of Europe’s most experienced distributors in the rigging and performance racing market.
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Helsinki Boat-Afloat boosts late-summer sales in Finland
Visitors were able to view the boats safely on the piers and in the marina of the HSK yacht club More than 10,000 people visited the Helsinki Boat-Afloat Show in Lauttasaari, Finland last weekend, with warm, sunny weather helping to boost late-summer boat sales. It was the ...
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New Explorer yacht expands Sturiër range
The new Dutchman Explorer yacht from Dutch yard Sturiër is under construction and scheduled for delivery to its southern European client next year.
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Princess Yachts wins Princess Royal Training Award
UK boatbuilder Princess Yachts has picked up a Princess Royal Training Award for its apprenticeship scheme. Now in its fifth year, the Princess Royal Training Awards recognise employers across the UK with outstanding training and development programmes that have had a direct impact on business performance. The winners are chosen ...
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X-Yachts enters powerboat market
Danish sailboat builder X-Yachts has entered the powerboat market with a debut planned for January next year.
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Scott Bader reports full 2019 results
The global materials specialist announced a 12% increase in profits for 2019, while reporting a 3% dip in turnover
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MasterCraft buys former Sea Ray plant
Newly-acquired Florida facility to handle all production for upscale Aviara day boat line
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OXE Marine begins trading on OTCQB market in the US
The Swedish outboard engine producer hopes to benefit from increased visibility across the US investor community
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ITA launches €39m tender for ‘Made in Italy’ brand promotion
The Italian Trade Agency (ITA), Italy’s trade promotion body, has launched a tender notice inviting interested parties to bid for a €39m budget to promote the ‘Made in Italy’ brand. This is an important bid for the Italian yacht-building industry and the many other companies engaged in yacht-related activities because ...
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New CEO for Sailfish Boats
Georgia, US-based fibreglass boatbuilder Sailfish Boats announced late last week that it has named marine industry veteran Rob Parmentier as its new president and CEO with immediate effect.