All articles by Subscriber-only – Page 260
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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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Report
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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NewsU-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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NewsRV 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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NewsGurit 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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NewsCox issues CXO300 production update
The UK’s Cox Powertrain today announced that assembly of its new CXO300 diesel outboard engine will proceed as planned at its Shoreham-by-Sea headquarters, while the company’s ramp-up production schedule will begin in Q3 when supply chains are hoped to be operating nearer pre-Covid-19 levels.
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NewsMarinas, boat yards and boat plants re-open in three US states
On Saturday the governors of three US states announced the reopening of marinas, boat yards and marine manufacturing businesses that have been shut down for weeks as part of lockdowns related to the ongoing Covid-19 pandemic On Saturday the US leisure boating industry received a serious boost ...
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NewsMonaco & Ft. Laurderdale show owner taps investors for funding
British-based Informa – a global events organiser and publisher – has turned to investors to raise £1 billion as a defense against the ”significantly deeper, more volatile and wide-reaching impact of the COVID-19 pandemic.”
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NewsMediterranean new-build yacht and refit yards start to reopen
With the lockdowns due to the COVID-19 pandemic being eased in countries such as Spain and parts of Italy, a number of yacht and superyacht new-build and refit facilities have started to reopen this week. France will stay in lockdown until at least May 11 and Monaco is set to ...
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NewsPolish boatbuilders continue production despite global supply chain disruptions
A number of Polish boatbuilders continue their production activities despite the ongoing coronavirus outbreak and the lockdown the country’s authorities have placed on numerous industries and institutions. Responses to the current situation have varied among boatbuilders as the majority of companies decided to maintain production at their shipyards, but others, ...
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NewsThree boat brands fall victim to coronavirus as Polaris ends Indiana boat production
Polaris has discontinued production of three of its boat brands and will be shuttering the Syracuse, Indiana plant where they are made.
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NewsYamaha suspends production at outboard engine factories following US closures
Lower demand and supply problems are factors in the latest decision to suspend production for effectively a month
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NewsLippert execs take pay cut, trim jobs, create emergency fund
American equipment maker Lippert Components announced further measures the company is taking to weather the Covid-19 storm including salary reductions, job furloughs, and emergency funding for employees impacted by the crisis. The company said it would ‘pause’ on acquisition activity aimed at diversification, but continue to invest in technology
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NewsTwin Disc reducing salaries, staff to combat COVID-19
Twin Disc, the maker of marine and off-highway power transmission equipment, has announced a series of…
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