EXPLOREMY LIBRARY
Boating & Aviation
International Boat Industry

International Boat Industry

April 2020

Business-to-business magazine for the recreational marine industry distributed to boat builders, designers, equipment manufacturers, distributors and retailers in over 120 countries. Contains industry news, market facts and data, country reports, technical, new product news, and management features for OEMs, distributors and retailers.

Country:
United Kingdom
Language:
English
Publisher:
Boating Communications Ltd.
Frequency:
Bimonthly
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7 Issues

in this issue

2 min.
covid-19 – the way ahead

THE MAJOR THREAT facing our industry during this difficult period is allowing it to come to a complete stop. With no doubt, ensuring employee safety and complying with government instructions should be an absolute priority. However, we all know the cost of a standstill which goes far beyond the immediate – and very painful – financial impact on already fragile industrial and distribution businesses. The deep and long-lasting disruption that it creates is the major risk in this context: resuming production and returning people to work, ensuring strong standards of quality & efficiency and a smooth supply chain, maintaining client morale and their appetite for non-essential expenditures is a very complex equation, and no one should underestimate the time and cost required in restoring the business to cruising speed. Therefore we…

1 min.
top 10 most read news on ibinews.com

1 Global COVID-19 Numerous dates 2 FLIR to sell off Raymarine Feb 27 3 America’s Cup world series regatta on schedule for Italy Mar 11 4 Beneteau Group releases statement on Covid-19 Mar 11 5 Princess issues stark warning as government funds prove elusive Mar 26 6 New dates and strategy for Genoa show Apr 9 7 US brokerage acquires Tartan Legacy Yachts Apr 2 8 Sunseeker to temporarily reduce workforce salaries Mar 20 9 Norwegian firm develops 150hp electric outboard Mar 27 10 Brunswick temporarily suspends production Mar 20…

1 min.
european industry associations call for eu support over covid-19

BELGIUM | Europe’s boating industry associations have teamed up to jointly call on EU institutions and national governments to support the sector and protect jobs against the impact of the Covid-19 outbreak. The call for action, co-signed by 18 associations, calls for swift measures to help companies survive the immediate crisis and actions to support recovery and stimulate demand. According to European Boating Industry (EBI), the signatories are calling for concrete and swift measures to support the 32,000 companies and 280,000 jobs in the industry. Most companies in the sector are SMEs, and their economic contribution is particularly felt in coastal and peripheral regions, as well as along inland waters. The paper calls for support to the industry through assistance programmes, introduction of a voucher scheme for tourism activities, open borders for…

1 min.
princess yachts appeal to uk government answered

UK | Following an urgent request for government backing made by its executive chairman Antony Sheriff in March, Princess Yachts has managed to secure the funding which it was being denied as an apparent oversight in the government’s Corona Large Business Interruption Scheme. Initially the company was caught in the “squeezed middle” whereby UK companies with a turnover of over £45m but with sales not high enough to avail themselves of the investment grade support lost out. However, Princess, whose latest filed accounts showed its turnover in 2018 amounted to £340m, as with similar sized companies, is now eligible for help through state-backed loans. Princess, which employs over 3,000 people in the city of Plymouth in the south west of England, is one of the largest employees in the region. The company…

1 min.
layoffs at nmma

USA | The National Marine Manufacturers Association (NMMA) in the US is dismissing 23 staff members as a result of COVID-19. The positions appear to be at all levels throughout the organisation. The NMMA represents the industry throughout the US and is also acknowledged as the largest organiser of boat shows worldwide, with a staff of approximately 100 across numerous functions such as legislative advocacy at federal and state levels, marketing of boating through consumer shows and Discover Boating initiatives, as well as statistics and certification programs. It appears thus far, that trade associations throughout the US are not eligible for government financial assistance. “While unfortunate, these difficult decisions were made to ensure the association is weathered against this global crisis and comes out stronger and more effective on the other side,” said…

1 min.
polaris ends indiana boat production

USA | Polaris has discontinued production of three of its boat brands and will be shuttering the Syracuse, Indiana plant where they are made. In a news release, the company said it made a “strategic decision to focus its marine investments and growth efforts on its flagship boating brands,” and will stop producing its Rinker, Striper and Larson FX boats in June. “We were fully prepared to expand these brands and our presence within their respective segments of the marine industry,” said Bob Mack, senior vice president of Corporate Development & Strategy, who oversee boat manufacturing. “But today, considering market dynamics and the continued uncertainty around the sustained impact of the COVID-19 pandemic, we have decided not to move forward with investing the necessary resources to maintain and grow Rinker, Striper…