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Marine industry remains buoyant despite Covid - North American MarineBusinessWorld newsletter

by Peter Rendle 7 Jul 13:00 PDT
New Powerboat sales remain strong through April © National Marine Manufacturers Association

A snapshot of the past 30 days in the North American marine industry reflects a buoyant market and plenty of activity.

Politics

Ahead of President Joe Biden's trip to Europe for the U.S.-E.U. summit, the National Marine Manufacturers Association (NMMA) reiterated its call for the Biden administration to reach an agreement with their European counterparts that would end Section 232 steel and aluminum tariffs and subsequent retaliatory tariffs on American-made boats.

Stats

The Total Industry Sales by Category and State section of NMMA's 2020 U.S. Recreational Boating Statistical Abstract is now available on NMMA.org. Total recreational marine expenditures reached a high of $49.4 billion in 2020, up 14.2% from 2019, in a record year for the boating industry as Americans sought ways to spend and enjoy time on the water amid the coronavirus pandemic.

The NMMA reports new boat sales remained strong through April, according to the latest New Powerboat Registrations Report. Data shows retail unit sales of new powerboats were up 32 percent on a rolling 12-month (R12M) year-over-year (YOY) basis through April, reflecting the surge in demand and sales over the past year. Runabout boats, pontoons, wake sport boats and cruisers drove new boat sales in April, with R12M YOY increases between 40-50 percent.

Acquisitions and expansions

MarineMax announced the acquisition of Nisswa Marine, a full-service dealer located in Nisswa, Minnesota.

Southern Marinas Holdings II, LLC, a partnership between a Denver-based private investment firm and Southern Marinas, announced the purchase of Ocean Isle Marina in Ocean Isle Beach, North Carolina.

Brunswick Corporation (NYSE: BC) today announced that it has entered into a definitive agreement to acquire Navico, a global leader in marine electronics and sensors for $1.05 billion. This covers the brands Lowrance, Simrad, B&G, and C-MAP.

Silent-Yachts kicks off the summer season in style. The innovative Austrian shipyard opens two new offices on both sides of the Atlantic.

OneWater Marine Inc (NASDAQ: ONEW) announced that it has reached an agreement to acquire the assets of Stone Harbor Marina, which will enhance the company's presence in the northeastern U.S. and expand new and pre-owned boat sales, storage, service and repair, and finance and insurance offerings. The transaction is expected to close in the fiscal fourth quarter of 2021.

Galeon Yachts recently announced the addition of Freedom Marine International Yacht Sales to their list of top-of-the-line dealers.

Events

As one of the first global leisure marine shows to reopen its doors, METSTRADE 2021 promises to be a special moment. From 16 to 18 November, RAI Amsterdam will host the physical reunion of our industry after over 1.5 years of virtual meetings.

IBEX is hosting the Innovation Awards program during their event taking place September 28-30 at the Tampa Convention Center.

ABYC's annual Educator Training Conference takes place virtually July 20-22, 2021.

The 2022 Progressive® Insurance St. Louis Boat & Sportshow®, presented by Discover Boating, originally scheduled from January 13-16, has been moved to February 3-6, 2022, to accommodate another event at America's Center Convention Complex.

Organizers of the USVI Charter Yacht Show, the premier event in the U.S. Virgin Islands for charter brokers and crewed yachts to see and be seen, are pleased to announce that the 2021 show will take place November 7 to 10, at IGY's (Island Global Yachting) Yacht Haven Grande St. Thomas Marina.

New Products

Two of Brunswick Corporation's leading boat brands, Boston Whaler and Sea Ray, announce the launch of the "MyWhaler" and "Sea Ray+" apps, designed to improve the boat ownership experience by reducing friction across the entire ownership journey.

Experienced silicone product manufacturer General Silicones (GS) shares how its Compo-SiL® technology is a green alternative to toxic leather and leatherette materials used for marine upholstery. The extreme environment of the marine environment so far required upholstery companies to rely on faux leather products based on expanded vinyl. Unfortunately, those products are a mix of vinyl plastic and a high percentage of PVC, a plastic notorious for its toxicity during manufacturing, disposal, and as a microplastic source.

South Korea's first commercialised hydrogen electric boat has been unveiled at the 2021 Busan International Boat Show, winning the event's Best Boat of the Year award. Developed by Vinssen, the Hydrogenia vessel is powered by a Danfoss Editron electric drivetrain and sub-system.

Lowrance rolled-out updated software for its line of HDS Live, HDS Carbon and Elite FS fishfinders. The updates include a series of radar interface improvements and new features focused on safety, like Dangerous Target Alert updates, as well as a key integration with SiriusXM® Marine Fish Mapping™ service covering North America.

KVH Industries, Inc (Nasdaq: KVHI) announced that it has introduced the TracPhone® LTE-1 Global marine communications system designed to provide recreational boaters and commercial mariners in more than 150 countries with Internet access up to 20 miles offshore.

People

Four members of the American Sportfishing Association (ASA) were elected or re-elected to fill two At-Large seats and two regional seats on the board of directors. Their three-year terms begin October 1, 2021. ASA is the national trade association that represents the sportfishing industry.

OneWater Marine Inc. announced that marine industry veteran James Brewer will join the Company as Managing Director of the Roscioli Yachting Center, effective July 12, 2021.

Navico®, parent company to the Lowrance®, Simrad Yachting, B&G® and C-MAP® brands, have announced the hiring of Kim Rodriguez as its new PR Manager for the Americas, bringing the communications position in-house for the first time.

There is more news appearing on the North American Marine Business World website and we welcome your news. For more information, or to provide a press release, contact peter.rendle@marinebusinessworld.com

Peter Rendle
MarineBusinessWorld.com Editor

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