Global Recreational Boat Market to Reach $50 Bln by 2023
The global recreational boat market is expected to reach revenues of more than $50 billion by 2023, growing at a CAGR of approximately 4 percent during 2017-2023, said a research report.The exponential growth of the travel and tourism industry across the European region will positively impact the development of the global market, said the market report by Arizton on the global recreational boat market."The rapid economic development and the increasing demand for charter services in Southeast Asia will boost the demand for new products in the market.
Dutch Superyacht Builders Propelled by Rising Economic Tide
With three lounges, three dining rooms, an open-air jacuzzi, a bar and six luxury cabins, the 50-meter "Aster" is one of Dutch shipyard Heesen's more modest superyachts.The Netherlands, which amassed huge wealth through the technical superiority of European shipbuilders during its 17th century Golden Age, is continuing its maritime tradition by carving out a prominent place in the luxury yacht industry."It's a big year for us," Johan Kaasjager of Heesen Yachts told Reuters at his shipyard in Oss. "We'll have delivery of three yachts this year and still a lot to come.
Yacht Charter Market to Cross USD 50bln by 2020
Yacht charter market is set to grow at a compound annual growth rate (CAGR) of 6.5% through 2020, says Future Market Insights in its research report. Yacht charter market revenues were estimated at US$ 37 billion in 2015, and by 2020, the market is expected to surpass US$ 50 billion mark. A renewed interest is being witnessed in spending on leisure and entertainment, giving a fillip to the global yacht charter market. The economic downturn of 2007-08 had a dampening effect on the yacht charter market…
Marinetek Builds Megayacht Marina for America’s Cup Site
When the America’s Cup fleet arrives in Bermuda in January 2017 a new destination resort and marina with a range of mooring options will be open to visitors eager to follow the action. Marinetek, an internationally acclaimed marina design and build company headquartered in Finland, is putting its expertise to work on a marina system that includes berths for 21 visiting megayachts at the resort’s King’s Point Marina. King’s Point will be the hub of a new luxury residential community designed by SB Architects as a ‘contemporary interpretation of British Colonial architecture’.
Moscow demands N.Korea's explanation on Russian Yacht Detention
A North Korean coast guard ship has detained a Russian yacht with a crew of five people on board, Russia's Foreign Ministry said on Saturday, adding it had sent a note to Pyongyang demanding explanation for the cause of the detention. The yacht was on its way from South Korea's port city of Pusan to Vladivostok in Russia's Far East when it was detained 80 miles (129 km) off the coast in North Korea's exclusive economic zone on Friday, the ministry said, giving no further detail.
Palladium Announces VP of Business Development
Palladium Technologies has announced the addition of David Arnold as its Vice President of Business Development. For 15 years, Arnold has been involved in the Luxury Residential, Commercial and Marine/Aviation markets with relation to IP Automation and Control solutions. As the recent V.P. of International Business at Savant Systems LLC., Arnold setup the Distribution and Field Engineering for the company and also developed and managed all B2B relationships in the International markets. Those markets included Australia, New Zealand, ASIA, EMEA, Russia, South America, Central America /Caribbean and Canada.
Damen Takes on Six Viking River Cruises Vessel Jobs
Damen Shiprepair Amsterdam (DSAm) reports that it is currently working on a modification and maintenance contract for six inland cruise vessels owned by Viking River Cruises. With this winter service complete, all six vessels – known as longships – will be ready for the coming river cruise season. The Viking Idi was the first of the six to arrive at the yard in late December 2015. Sister ships Viking Idun, Viking Kvasir, Viking Kara, Viking Hlin and Viking Gullveig will follow consecutively.
KVH Upgrades IP-MobileCast Service
KVH Industries has updated its unique IP-MobileCastTM content delivery service for additional viewing flexibility and expanded content offerings. The new features are being rolled out in stages, with the first round of upgrades automatically delivered via over-the-air software updates for current subscribers. IP-MobileCast was developed by KVH and launched in 2014 as the first and only service to multicast movies, TV shows, daily news and sports, as well as operational data via satellite to vessels at sea.
Nagata to Lead Relocated Yanmar HQ
Yanmar has announced far-reaching strategic changes to its marine recreational engine business. In a double break with traditional Japanese business practices, Yanmar Marine International commenced the relocation of its marine recreational engine business headquarters from Osaka to Almere in the Netherlands and recruited Shiori Nagata as its first president, with effect from January 1 this year. Almere, about 40km to the east of Amsterdam, has been home to Yanmar Europe BV since 1988…
Russia's Floating Research Station Unfolds in the Arctic
The Russian Ministry of Natural Resources says that Russia plans to establish a floating research station in Arctic sea. The floating research station “North Pole-41” is already in the making, says the Ministry statement. The Ministry says that the station will be an important instrument in securing Russian presence in the Arctic and will give Russia the opportunity to set new priorities for the scientific research on the drifting ice. "At present the deployment of seasonal scientific…
Gulf Craft Makes a Splash with New Luxurious Yachts
UAE-based yacht and boat builder, Gulf Craft has made three global launches of latest super yacht - the Majesty 122, the Nomad 65 and 75 from the new collection of yachts designed for the passionate seafarer. Three new luxury yachts worth a total of Dh53 million were unveiled by Gulf Craft on the first day of the Dubai International Boat Show on Tuesday. Measuring 37.5m in length, with a fuel capacity of 25,250 litres, Majesty 122 costs a staggering $11m (Dh40.40m). It can accommodate up to 10 guests and has five spacious ensuites with an extended balcony and fly-bridge.
GAC Pindar Extends Logistics Contract
GAC Pindar has secured a three-year extension of its contract with the global Extreme Sailing Series to manage the complex worldwide shipping of the Series’ Extreme 40 boats, equipment and support materials. Andrew Pindar, Director of GAC Pindar, commented: “Our business model of bringing together our knowledge, understanding and passion of sailing together with the strength and reach of GAC shipping and logistics has seen us become established as the provider of choice for an ever increasing range of sailing events since we started out four years ago.
High Performance Dinghy Wins Design Award
The TIWAL 3.2, a high performance inflatable sailing dinghy has won the Red Dot: Best of the Best Award 2014 for its groundbreaking design. The product was amongst 4,815 entries in one of the world’s largest and most renowned product competitions. The 40-member expert jury judged thousands of products from 53 countries, over several days; the TIWAL 3.2 secured the highest distinction in product design, the Red Dot: Best of the Best. This ceremony will be held on 7th July 2014, in front of 1,200 guests at the Aalto-Theater in Essen, Germany.
Grand Circle Cruises Buys 'MV Corinthian'
Vince Cook, CEO of Grand Circle Cruise Line, informs that the company has acquired the 'M/V Corinthian', a 98-passenger, ocean-going vessel that currently operates in Antarctica. They had chartered the ship for the past year and intend to expand the Corinthian's operations with the launch of three new small ship cruise itineraries in 2015. The ship was acquired for an undisclosed price from Travel Dynamics International, an operator of educational programs aboard small cruise ships…
5th La Belle Classe Superyachts Business Symposium
Strength lies in unity! Yachting: an industry on the move which is getting organized! The Yacht Club de Monaco under the ‘La Belle Classe Superyachts’ banner, initiated by the YCM to unite the yachting industry and support members in this sector, held its 5th economic symposium. Over 45 professionals from across the Luxury Yachting supply chain (boatyards, brokers, designers, captains, bankers, maritime experts, lawyers, port directors and boat show organizers) attended the dinner-debate to discuss the economic situation in the yachting world.
Raymarine’s Racemaster First Across the line
The UON SB20 World Championships, held at Hamilton Island in December 2012, saw one of the closest fought series of races. The event concluded with Geoff Carveth’s British WKD team sailing into the SB20 class history books to be crowned SB20 world champion for the third time. With his crew including South African Olympic yachtsmen Asenathi Jim and Roger Hudson, along with Lesley Dhonau, Carveth’s victory was only confirmed after a results countback – as Glenn Bourke’s Australian…
Seychelles Workboat Delivered by Alnmaritec
Blyth based boat builder Alnmaritec is celebrating after the latest of its newly built aluminium workboats was delivered to the Seychelles, before being promptly blessed in a ceremony organized by owner Eden Island Marina. The third in class of the successful Wave Hauler series, the 6m boat will be employed at the Eden Island Super-yacht marina in the Western Indian Ocean where she will be expected to fulfil a number of duties, as General Manager at Eden Island Christophe Houareau explains, “We have named the boat ‘TI TUG’ and she will be used for line handling, diver support, emergency fire response and of course tug duties.
Superyacht Industry Surges into 2013
The ultimate flavour of the superyacht industry going into 2013, after a somewhat tumultuous year amid seas of inclement weather and economic instability, is one of sweet success, with silver linings hidden in some unexpected corners, according to insider sources at Yachting Pages. European shipyards orders are thriving, due to the poor performance of the Euro on international markets. Though bad news in some quarters, the deflated currency has made the Eurozone’s shipyards and component parts incredibly attractive to buyers in markets such as Russia…