Paperless loan process requires diligence

A change in procedure has eliminated federal paperwork in the marine loan process, but has increased the likelihood of fraud and identity theft, members of the National Marine Bankers Association were told in November at their annual conference. With new electronic filing regulations and faxing procedures enacted in 2007, the Coast Guard has gone paperless,…more

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Marine financing: Selling boats in a tight market

Despite the credit crunch, there was an air of optimism at the NMBA’s annual conference   The U.S. economy will continue to suffer the effects of tight credit and a “deleveraging” cycle, as a society that had become increasingly reliant on borrowing digs itself out from under a mountain of debt. That was the scenario…more

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Megayacht market still holding strong

While the small-boat market rides the cyclical waves of the U.S. economy and struggles with high fuel prices, megayacht sales are booming. The 2008 Global Order Book, a compilation of big-boat projects in progress, shows 916 new vessels of more than 80 feet under construction, a 17.9 percent increase from 2007. Experts don’t expect that…more

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The Sails’ development moves forward

Outcome of two of three recent South Florida cases benefitted boaters’ access Waterfront advocates in land use-conflicted South Florida scored two victories this summer, but lost some ground in a third case. In Fort Lauderdale, city commissioners approved a scaled-back version of a highly touted megayacht marina and hotel complex. And in Miami, a federal…more

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Bankrupt Fla. marina goes to chief creditor

New River property ends up in foreclosure after Fort Lauderdale auction results voided When the auction hammer came down, confirming Allied Richard Bertram Marine Group’s July 17 purchase of bankrupt New River Marina for $13.4 million, everyone thought the deal was in the bag. But what looked like a sure thing turned into a nightmare…more

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Reinventing the marina

BoatClubsAmerica’s boatyard transformations in Fort Myers and Fort Lauderdale are helping keep the waterfront accessible BoatClubsAmerica is doing its part to counter the condo confiscation of Florida’s waterfront by transforming old, rundown marinas into modern, country club-type boating centers. Like many industry leaders, BoatClubsAmerica believes Florida’s boating-business future is threatened by the statewide trend toward…more

Florida throws out a lifeline

State moves on incentives to retain marine businesses Progress is on the horizon to reverse the hemorrhage of marine businesses defecting from Florida to North and South Carolina. Enterprise Florida Inc. (EFI), the public-private partnership devoted to statewide economic development in high-growth industries, has included budget dollars targeted toward marine business development and retention. State…more

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Surviving an EPA inspection at your boatyard

Today’s environmental regulations that apply to marinas and boatyards are voluminous and complex. Yet, daily attention to details and further training can make life easier for the marina industry to comply with environmental regulations. Spill, Prevention, Control and Countermeasure (SPCC) regulations require plans to prevent (and respond to) oil discharges that could affect navigable waters,…more

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