Downturn has yacht exporters seeking new markets


Yacht exporters are riding a weaker dollar and reduced prices to new markets, while domestic sellers are seeing signs of life.

With exports to Northern Europe weakened by the recession, many importers have had to find new markets, namely in Australia, the Middle East, South America, Asia and countries in the Mediterranean, according to a report on

Larger, costlier yachts have been exporting more than smaller boats, said Andy Wiley, Coastal Maritime Stevedoring's general manager and vice president of operations. Most are headed to Mediterranean countries, such as Greece and Tunisia, and West Africa.

Brazil and Australia haven't been hit as hard by the global recession as the United States and Europe, so there is more interest in buying luxury items. Although South America's middle class is growing, the region's protectionist duties make exporting tricky, said Mark O'Carroll, executive director of Global Marine Sales, an international yacht brokerage.

The Middle East still holds a lot of promise, despite the recent financial meltdown in Dubai.

Click here for the full article.


The 2021 Top 10 Most Innovative Marine Companies Awards

The marine industry consistently honors products and people. The industry, however, has not recognized forward-thinking companies that are moving the industry in new directions. Soundings Trade Only’s mission is to reflect, inform and inspire.

German Superyacht Yard Files for Bankruptcy

Nobiskrug cited a lack of orders, the Covid-19 pandemic and other factors in its decision to start the proceedings.

West Marine Acquired

The private-equity firm L Catterton will take a controlling interest in the retailer’s ownership.

Kicker Supports Two Events on Lake Havasu

The marine audio company will take part in the performance-boat events Super Cat Fest West and the Desert Storm Poker Run this weekend and next.

Bay Bridge Show Starts Tomorrow

The combined sail- and powerboat show runs through Sunday in Stevensville, Md.

Brunswick Corp. Arranges Covid-19 Vaccinations

The marine-industry conglomerate aims to protect employees and their communities against Covid-19.

Kadey-Krogen Announces New Ownership Structure

This summer, the builder and its new investor plan to reveal a five-year innovation and strategic plan.

What is America’s Finest Harbor?

Online voting is open in the US Harbors competition for the best U.S. harbor.

Bruce Van Wagoner to Retire

The 45-year industry veteran was marine group president for Wells Fargo Distribution Finance.