Quick Hits: October 27, 2020

Author:
Updated:
Original:

Caterpillar reported revenue of $598 million, a 20 percent decline in the third quarter, with profits plunging 63 percent to $48 million from $81 million in the same quarter last year. The company attributed the decline to lower average financing rates and lower average earning assets. "The Cat Financial team delivered solid results in the third quarter while managing customer challenges from Covid-19 and the remaining Caterpillar Power Finance portfolio," said Cat financial president Dave Walton said in a statement."We saw modest improvement versus second quarter 2020 for most key business drivers, and Cat Financial remains well-positioned to serve Caterpillar customers and dealers worldwide through financial services solutions."

Camper & Nicholsons had added Benjamin Bensahel as sales advisor in its Monaco office. Bensahel joins the 238-year-old company after serving as a broker in the South of France and Monaco for several years. “Benjamin can now feel the pulse of the fast-moving Yacht Brokerage division at Camper & Nicholsons and build his skillset even further,” the company said in a statement.

The Water Sports Foundation has named seasoned outdoor journalist Jeff Moag as content director. The former editor-in-chief of Canoe & Kayak, Moag has also freelanced for Adventure Journal, Outside, Men’s Journal, and the Washington Post. A lifelong waterman, Moag is an experienced sailor, whitewater and sea kayaker and is trained in swift water rescue. For the last two years he’s directed non-profit boating safety efforts for the WSF. “The Water Sports Foundation has been a leading voice for boating and paddling safety for nearly a decade,” Moag said in a statement. “I’ve been privileged to assist in this important work…seen the positive impact of these campaigns first-hand, and I’m thrilled to take a larger role as the WSF continues to expand its innovative safety content and build its online and social media presence.” 

Related

Boat Demand Remains Strong, But Inventory Shortages Prevail

Dealers worry that the absence of new boats is driving up prices.

Electric Boat Company Completes IPO Process

Canada-based e-mobility outfit Vision Marine raises $27.6 million to reinvest in its line of electric vessels and 180-hp, E-Motion outboard.

Besenzoni Introduces Electric-Powered Gangways

The company says it will introduce electric power across its line of ladders, tender lifts and more.

Quick Hits: November 30, 2020

Newmar celebrates 50 years; Pebble Mine permit denied by Army Corps; and several yacht builders will feature Raymarine.

NTSB Calls for Safety Changes After Dive Boat Fire Killed 34

Recommendations included interconnected smoke detectors and alternative escape paths.

Boat Registrations Continued to Soar

Strong demand continued through September.

2020: What We Learned

A cross- section of industry leaders weighs in.