Updated:
Original:

MIAMI 2014 VIDEO: New Panama boat show set for June

skip0215

MIAMI — Show Management, the Fort Lauderdale-based boat show company, announced that its inaugural Panama International Boat Show will be held June 20-22 at Flamenco Marina at the Pacific entrance to the Panama Canal.

The economies of Central and South America are growing, along with demand for boats 20 to 70 feet in a region that has a strong boating and fishing culture, Show Management CEO Efrem “Skip” Zimbalist III said Friday at the Yacht & Brokerage Show in Miami Beach.

There aren’t many dealers in the region, Zimbalist said, so much of that demand is going unmet. “We were looking for a place to do a show specializing in these kinds of boats” to meet the demand, he said. “We think there’s a big market that will develop in the region.”

Show organizers plan to cater to buyers from Panama, Costa Rica, Ecuador, Colombia and Venezuela, among other countries in Central and South America.

Panama made sense as a venue for the show, Zimbalist said. The 238-slip Flamenco Marina, on Flamenco Island, is a flourishing tourist attraction with nine on-site restaurants overlooking the canal, two breakwaters, a drystack facility that will be completed in time for the boat show, 24-hour security, marine firefighters on-site, a fuel dock, disposal facilities, Wi-Fi, transportation assistance, fishing and private trip charter services, a bilingual staff and onsite government offices.

Moreover, Panama is politically stable, it uses the U.S. dollar as currency, has a modern infrastructure and is a “safe haven” for people of high net worth in the region, who come to Panama to invest.

Panama’s Ministry of Tourism and Maritime Administration are enthusiastic supporters of the project, Zimbalist said. Show Management’s target market is boat buyers in Panama, Costa Rica, Ecuador, Colombia and Venezuela.

Zimbalist said the Panamanian government has promised favorable tax treatment, and Show Management — producer of the Fort Lauderdale International Boat Show, the Yacht & Brokerage Show in Miami Beach, the Palm Beach International Boat Show, the St. Petersburg Power and Sailboat Show and the Suncoast Boat Show in Sarasota — will provide for logistics to ship boats and other product from southeast U.S. ports to Panama, Zimbalist said.

Flamenco Marina president Miguel Lopez-Pinero said he is expanding it to accommodate the show. His marina can dock boats that range from 40 to 110 feet.

Related

Suntex Acquires Tampa Area Marina

The Marinas at Little Harbor, with slips and drystack storage, is in a resort community that’s being developed in Ruskin, Fla.

Littelfuse to Acquire Carling Technologies

The $315 million transaction is expected to close in the fourth fiscal quarter.

Boat Sales and Fraud

Boat History Report has tracked a 123 percent increase in fraud on the preowned-boat market since the pandemic buying spree began.

Avoid Cutoff Confusion

Dealers should familiarize themselves with a new law requiring engine cutoff switches so they can inform their customers. Meanwhile, a new program puts Ohio youth in kayaks to learn about the importance of the Great Lakes.

Wave Wifi MNC1250

Wave WiFi’s new Dual Band Marine Network Controller with SIM-activated cellular system (MNC1250) distributes fast reliable internet onboard. It can be connected to any internet source and transmits both 2.4 and 5GHz AP signals for speed and reliability. Gigabit ports provide fast throughput and Wave’s proprietary Graphic User Interface makes it easy to set up and operate.

OneWater Acquires T-H Marine

OneWater Marine purchased the Huntsville, Ala.-based P&A provider for around $185 million.

Groupe Beneteau Acquires Starfisher

The Portugal-based yard builds powerboats from 25 to 35 feet and was doing subcontracting work for the group.