NMMA: Survey details Gulf oil spill’s fallout

Author:
Updated:
Original:

The National Marine Manufacturers Association recently surveyed its members about the effects of the BP oil spill and found that three out of five recreational marine manufacturers have been affected.

The NMMA surveyed 178 member chief executives from late June through July.

"Results from this member survey offer a timely and realistic picture of how the oil spill has had, and likely will continue to have, a negative impact on recreational marine manufacturers," NMMA president Thom Dammrich said in a statement. "The effects of this spill, both real and anticipated, are being felt by more than half of the manufacturing businesses in our industry."

Survey findings include:

* Nearly four out of five surveyed companies anticipate some effect on their business from the spill through the remainder of the year.

* 76 percent of surveyed companies had predicted sales growth in 2010 prior to the spill.

* 70 percent of surveyed companies have downwardly revised their 2010 sales projection as a direct result of the spill.

* 64 percent of surveyed companies downwardly revised their projections by 5 to 20 percent.

* 68 percent of surveyed companies were told that a cancellation was directly attributable to the spill.

Click here to view the survey results.

"An estimated 11 percent of total U.S. new marine products are sold within the areas of the Gulf Coast affected by the oil spill," Dammrich noted. "Findings from our survey point to a widespread effect on marine manufacturers, both in and beyond the Gulf Coast. While not an insurmountable setback as our industry awaits recovery from the economic recession, the oil spill's long-term impact on marine businesses in the Gulf - and nationally - is yet to be determined."

Related

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.

Patrick Acquires SeaDek Parent

The Indiana-based company continues its strategy of growth through acquisitions.

BoatUS, USPS Resume Safety Checks

The groups are offering the service during safety events, or boaters can conduct the inspection using an online guide.

Stepping Up the Pace of Relief

A positive jobs report, 3 million vaccinations per day and consumer confidence point toward economic recovery.