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.

Ad budget key to managing downturn

Maintaining your advertising budget in a down economy can lead to increased market share. A recent article in The New Yorker magazine looks at companies that have increased their advertising budgets during previous recessions and how doing so proved profitable. For example, during the Great Depression, Kellogg doubled its ad budget and moved into radio…more

Export training program designed to create jobs

A new training venture is being set up to help the Florida marine industry create more jobs at home by increasing companies’ global export business. The Global Trade Training Pilot Program is funded by a Workforce Florida grant and coordinated by Enterprise Florida. A $457,000 Quick Response Training grant will be matched by nearly $663,000…more

Decision pending on Boater’s World assets

Ritz Camera Centers has selected a proposed bid for the sale of its Boater’s World retail stores. During a court-approved auction Tuesday, the preferred bid was submitted by a joint venture formed by Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC. As part of the proposed agreement, Ritz Camera Centers, Gordon Brothers and…more

CNI, Seamagine sign display partnership

Seamagine Hydrospace Corp. and yacht management firm Camper & Nicholsons International have announced a strategic partnership created at the Monaco Boat Show. There, CNI made exhibit space available to Seamagine to display the Ocean Pearl. They followed with an equally successful outing at the 49th annual Fort Lauderdale International Boat Show. “CNI has always provided…more

Judge: Boater’s World auction will go forward

A bankruptcy court judge yesterday approved the bidding procedures for Boater’s World’s assets, with an auction scheduled for noon Tuesday in New York, according to court documents. Bids are due Monday. A hearing to approve any subsequent transaction is set for March 19. Ritz Camera Centers, the parent company of Boater’s World, filed for bankruptcy…more

Boater’s World to be auctioned next week

Ritz Camera Centers, which filed for bankruptcy protection last month, is selling the business and/or assets of its Boater’s World Marine Centers to maintain Ritz’s “long-term viability and successful reorganization,” according to court documents. In papers filed last month, Ritz said an auction is planned for 10 a.m. next Tuesday, with a hearing to approve…more

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Superyacht regatta registration open

Boat International Media and the Yacht Club Costa Smeralda are accepting registrations for Boat International Superyacht Regatta 2009, scheduled for June 9-13 off northeastern Sardinia. The event features superyachts of 80 feet or more competing for the Boat International Silver Trophy. To date, there are about a dozen confirmed entries in the race. The social…more

Obama and the banking crisis

As Barack Obama takes over the presidency, ideas for fixing the banking crisis are circulating, from having government buy banks’ troubled assets to nationalizing the banking system. In his latest New York Times DealBook column, Andrew Ross Sorkin suggests that the alternatives being considered all have drawbacks that need addressing before the President and his…more

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Exports dip as sales overseas cool

Marine manufacturers who have been supplementing lagging domestic sales with robust export sales say that as America’s financial crisis spills across borders, overseas sales are dipping too. Following an unprecedented increase in boat sales abroad that began in early 2004, the market has slowed in recent months, as the global economy follows the U.S. recession…more

Inaugural Emirates show reports $15 million in boat sales

Organizers of last month’s Emirates Boat Show International in Abu Dhabi are calling the inaugural event a success, with more than $15 million in boat sales. The show attracted 13,000-plus visitors and featured more than 200 boats and a range of other products from local, regional and international exhibitors. “The results of the first EBSI…more

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