International News

The marine industry is a global enterprise. Builders, dealers, marinas, equipment manufacturers and other businesses are found worldwide, and there are major boat shows on all continents.

Readings on consumer confidence, home sales upbeat

The American consumer’s mood has been tough to read since the year started, but Tuesday’s rise in The Conference Board’s Consumer Confidence Index, coupled with a surge in sales of new single-family homes, suggests that the economy is starting to shake off the effects of a lethargic first quarter.

Chaparral and Robalo builder Marine Products Corp. cited a decline in Canadian sales because of the strong U.S. dollar.

A big impact on Canadian market

American-built boats are costing Canadians about 20 percent more than they did a few months ago because of a weakening Canadian dollar versus the strong U.S. dollar.

With European sales lagging, manufacturers there are increasingly targeting the North American market.

From Europe, ‘in droves’

European boatbuilders have been focusing more and more on the U.S. market as their own economies remain challenged and the strong dollar creates a pricing advantage against their American counterparts.

Spectators gather Saturday at Castle Hill in Newport, R.I., to watch the Volvo Ocean In-Port Race.

Newport seeks to secure another Volvo Ocean Race stopover

Enthusiasm and participation at the Volvo Ocean Race stopover in Newport, R.I., exceeded expectations, leading organizers to give the city an exclusive two-month negotiating window to secure the North American stopover in the next race, slated for 2017-2018.

Mixed signals continue for U.S. economy

So where is the U.S. economy headed? Gross domestic product rose at an anemic annualized rate of 0.2 percent in the first quarter after advancing 2.2 percent in last year’s fourth quarter, and there are as yet no signs of a strong rebound during the second quarter.

Volvo Penta supplied the D2-75 diesel engines, drives and power generation systems for the one-design racers in the Volvo Ocean Race.

Volvo increases exposure with famed ocean race

NEWPORT, R.I. — It might be Volvo Penta’s enormous investment in the Volvo Ocean Race that helps give the company a 55 percent market share in the 20- to 60-foot sailboat market in Europe and a 45 percent share in the 40- to 60-foot U.S. sailboat market.

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