Skip to main content
Updated:
Original:

Esthec seeks to capitalize on teak-export ban

teak21113

Composite decking manufacturer Esthec said key virgin teak supplier Myanmar is banning virgin teak exports, beginning early next year.

Myanmar currently produces at least 75 percent of virgin teak, of which the yachting industry is a major user, Esthec said.

Although other sources, typically in India and Thailand, will try to fill this shortfall, the company said quality teak for decking could become a scarce commodity.

Esthec said that in recent years teak prices have risen by 15 to 20 percent and could now start to climb further. Some observers predict an additional 20 percent rise now that the Myanmar ban has been announced, even though supplies to date have not yet been affected, the company said.

“Esthec composite decking has established itself as the leading brand and supplier in this growing marketplace,” Esthec’s Marcel van der Spek said in a statement. “Excuse the pun, but we have been steadily increasing traction in the luxury decking industry by offering designers and builders more freedom in design and novel applications. More recently we have made significant product development to produce decking that not only feels perfect underfoot, but now with lower surface temperatures in hot sun, very comparable with teak decking. The Myanmar teak ban could well be the catalyst for more designers and customers to come on board and specify the Esthec products. We are ready to step up to the market challenge that the Myanmar ban will no doubt produce, confident we have a world-leading product range that is truly fit for purpose in the luxury yacht market."

Related

Sudbury Names Martin Flory Group Agency of Record

The Peabody, Mass., boat-care products company has hired the public-relations firm to enhance market positioning of the company and its subsidiaries.

Technohull Opens New Shipyard

The Greek high-performance RIB manufacturer moves operations to a purpose-built,129,000-square-foot facility.

Yamaha Rightwaters Supports N.Y. Oyster Restoration

The Billion Oyster Project in New York Harbor aims to bring back bivalves to the mouth of the Hudson River and one of the country’s busiest harbors.

Zeelander Names New CEO

Marine industry veteran Grant Hooper is appointed CEO of Zeelander Yachts.

AIM Marine Group Hosts Meet the Editors Event

More than a dozen editors from Active Interest Media’s Marine Group participated in the day-long, information-sharing event.

Fairline Makes Leadership Appointments

The British luxury boatbuilder founded plans to chart its course for the future with a new CEO and the return of Derek Carter as chairman.