International Boat Industry - June-July 2018

http://www.ibi-plus.com International Boat Industry | JUNE–JULY 2018 11

Hydrolift

endures heavy

losses

2019 London Boat Show cancelled

UK British Marine, organiser

of the London Boat Show, has

cancelled the 2019 event on the

back of poor industry support.

The show was due to take place

in January at London’s Excel

Exhibition Centre.

A statement from British

Marine says the decision

was made after independent

research showed there was

insuicient support from a

large proportion of the marine

industry to the London show

with its current format,

duration and location.

Personal interviews with

over 67% of exhibitors revealed

that whilst a number of marine

companies supported the

change to a five-day show,

finding it preferable to a 10-day

show, a large number of key

exhibitors were not prepared

to commit to exhibiting to

a five-day show at ExCeL in

January 2019. Visitor research

also showed that consumer

satisfaction of the 2018 show

was below acceptable industry

standards.

British Marine said that an

insuicient number of signed

contracts of commitment

to the 2019 show have been

returned – particularly from

boatbuilders and boat retailers.

Lack of signed contracts

from this sector also affected

confidence from other

potential exhibitors, further

reducing confirmed sign-ups.

“The decision to put the

London Boat Show on hold is

naturally very disappointing

for the British marine industry,

but British Marine and its

Board of Directors has a

responsibility to its members

and we cannot commit to

running a show which is clearly

forecasted in its current format

to be commercially unviable

and will not meet customer

satisfaction levels,” says British

Marine president David

Pougher.

In contrast, ticket sales and

exhibitor sign-ups for British

Marine’s 2018 Southampton

Boat Show are significantly

ahead compared to this time

last year.

NORWAY Hydrolit, a

Norwegian producer of

motorboats from 22ft-42ft,

has had to lay off 18 of its

44 employees due to heavy

financial losses. According to

local daily Fredriksstad Blad, the

well-known builder, part of the

Eker Group, had been in the

red since 2002.

“We have to adjust to

the market. We have had a

hard race and have to adjust

our numbers. It’s the reality

of life,” owner Bård Eker,

told the paper. Eker added

that bankruptcy was not an

option.

According to Fredriksstad

Blad, Hydrolift’s turnover fell

from NOK 23.9m in 2015 to

just NOK 12.6m in 2016.

From 2011 to 2014, the

company lost between NOK

7m to NOK 15m each year,

but the total loss since the

company was founded in 2002

is more than NOK 100m.

NETHERLANDS A Dutch court

has granted Jetten Shipyard

time to sort out its finances,

providing relief from creditors

and space to craft a strategy to

avoid bankruptcy.

“Salaries have been paid

and the finishing of yachts in

build is continuing,” Jetten

MD Jeannot Grim told a Dutch

website. He added there were

“a number of potential buyers”

for the yard’s latest – the Jetten

Beach 65 Wheelhouse Custom.

The 19.3m yacht is listed from

€2.3m to €2.8m, depending on

the version.

Jetten’s financial woes

became public earlier in May.

Grim has blamed his yard’s

troubles on underselling and

taking on too much work.

Jetten Shipyard was founded

in 1997 by brothers Marcel and

Sander Jetten. In July 2017,

they sold the company to then

general manager Grim to spur

international growth.

Court grants

Dutch yard relief

from creditors

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FINLAND Finnish sailing yacht

builder Baltic Yachts looks

set to become the new owner

of the Italian Cantieri di Pisa

brand. In mid-June, Baltic

offered €3m to buy Cantieri

di Pisa and Navicelli di Pisa

Srl. The €3m offer was made

to the bankruptcy authorities

and a public tender will now

be issued through the Court

of Savona and, assuming

there are no other bidders, the

shipyard’s assets will be signed

over to Baltic Yachts once

the €3m has been paid. Baltic

Yachts will be given a five-year

sub-licence to operate the yard

and after that period it will be

assigned a full licence.

Navicelli di Pisa Srl,

which is also part of the deal,

was formed with public capital

to run the Navicelli Canal and

manage state-owned areas

nearby. The company also

manages the Yachting Lab

Service Center.

Finnish yard

to take over

Cantieri di Pisa?