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US MarineBusinessWorld.com Newsletter: More positive news from the boating industry

by Peter Rendle 26 Jul 2019 08:00 PDT
The Maritimo X50 is a truly capable offshore performer. © John Curnow

NMMA's New Powerboat Registration Report has been updated with data through May. Preliminary data from the report shows new powerboat registrations were up 3.3 percent through May on a rolling 12-month year-over-year basis and up one percent on a rolling 3-month year-over-year (R3M YOY) basis.

At the same time United Yacht Sales, the world's largest professional yacht brokerage firm with more than 165 yacht brokers worldwide, reported that sales increased 26% in the second quarter of 2019 compared with the same quarter in 2018. The increase in overall sales was attributed to positive marketing results, an influx of new yacht brokers joining the company, and an overall strong brokerage market for United. In January, United reported that brokerage sales grew 40 percent in 2018 compared to 2017. "Not only did we see a nice uptick in the number of brokerage sales in the second quarter, but the overall value of each deal also increased," said Peter Schmidt, owner and CEO of United Yacht Sales.

At the top level, Cobalt Boats joined President Trump at the White House for the Third Annual Made in America Product Showcase. Pack St. Clair, Founder and Shane Stanfill, President of Cobalt Boats located in Neodesha, KS had the privilege of representing the state of Kansas at President Trump's third annual Made in America Product Showcase on Monday, July 15. The event took place on the White House Lawn, displaying American-made products from all 50 states, including Cobalt's R5 Surf model.

Marina developments also make the news and Suntex Marina Investors LLC (Suntex), announced recently that the Fort Lauderdale City Commission has voted unanimously to approve plans for the renovation of Las Olas Marina. Suntex's initial bid was selected by the city in 2016 and the lease was signed on May 3, 2018. The City Commission gave final approval on July 9, 2019. The company has entered into a 50-year lease with the city to develop and operate the city-owned space. This will be a multi-million-dollar project and is in addition to the $70 million redevelopment by the City to create waterfront and beach access, a park, new parking facilities and renovate existing sidewalks.

While not taking place in North America the Yacht Racing Forum plays an important part in the sailboat industry. The Yacht Racing Forum and Beneteau, the market leader for motorboats and leading sailboats producer, are pleased to announce the continuation of their partnership. Gianguido Girotti, Deputy Chief Executive Officer in charge of Product Strategy and Brands, will be the events' keynote speaker on day two, addressing the commercial case for the sport of sailing. "Beneteau has always followed the Yacht Racing Forum with great interest," he explains. "Given the quality of talks, participants and intellectual exchange, we felt it was our mission to be more actively part of it to further sustain the leading-edge technology and the sharing of ideas."

People in the news includes BoatUS Vice President of Government Affairs Chris Edmonston who has been elected chairman of the Sport Fishing and Boating Partnership Council. Senior-level representatives from state and federal wildlife agencies, saltwater and freshwater fishing organizations, recreational boating groups, recreational boating and fishing industries, conservation organizations, tribal representatives and the tourism industry comprise the 18-member body. The council advises the U.S. Secretary of the Interior on recreational fishing, boating and aquatic resource conservation issues.

Last Friday, representative Mikie Sherrill visited Bridge Marina in Lake Hopatcong, New Jersey to discuss the controversial closure of the lake because of harmful algae blooms. NMMA encourages other members to work with them on scheduling visits with their respective elected officials; critically important opportunities for highlighting the recreational boating industry.

To industry members involved in the 30'+ power boat market, feel free to check out our power boat news site www.powerboat-world.com - a site dedicated to the daily news coverage of new boats, accessories, electronics and power units.

Peter Rendle - peter.rendle@marinebusinessworld.com

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