New Marine Training Facility - Essex

New boatyard opens in Brightlingsea

By IBI Magazine

A new boatyard designed for use as a marine training facility has officially opened on Britain's east coast.

According to the Chelmsford Weekly News, Harker's Yard — which is based in Brightlingsea, not far from Colchester in Essex — was built with funds from the East of England Development Agency (EEDA)'s Economic Participation programme.

Essex County Council, in partnership with Maldon District Council, is to fund a marine apprentice programme at the yard, says the paper. It will be aimed at young people who aspire to work in the marine sector and is expected to be underway by spring.

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(10 February 2010)

America's Cup Racing - Race Starts Feb 8 2010

America's Cup racing: Even with court battle looming, it's a go

By IBI Magazine

Despite still being entrenched in legal issues, both syndicates in the America's Cup race are preparing to race on February 8th. The Defender, Alinghi, and Challenger, BMW Oracle, have been at their bases in Valencia, Spain over the last weeks preparing for races that many observers believed might never happen.

New York Justice Shirley Kornreich on Friday told the syndicates that she would not be able to rule on the legality of Alinghi's "constructed in country" issue over its sails before next week's races started. BMW Oracle, through its sponsor Golden Gate Yacht Club (GGYC), had earlier asked the court to decide if Swiss-based Alinghi would be allowed to defend the title. It says Alinghi's sails were made in the USA, in what it says is in direct contravention to the America's Cup "Deed of Gift." The Deed specifies that a club's yacht must be made in the country it represents.

"We are delighted that BMW Oracle's attempts to disqualify Alinghi and to win the America's Cup in court have been denied," said Ernesto Bertarelli, CEO of Alinghi, in a statement. "We look forward to meeting them on the start line here in Valencia on 8 February to race for the Cup." Alinghi had earlier said it would forfeit the Cup if the New York Court ruled against it.

"It's unfortunate the legality of Alinghi's American-made sails probably will not be decided before the match," said Tom Ehman, GGYC spokesman, in a statement. "However, it will be decided eventually."

It is possible that even if Alinghi's 95ft catamaran prevails over BMW Oracle's 95ft trimaran on the racecourse, the New York court could still overturn the results. Kornreich's decision allows for post-race legal complaints from both sides.

The Cup series, unless postponed by weather, is scheduled to be a best-of-three match starting on February 8 and concluding on February 12.

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(1 February 2010)

Oyster Expansion

Oyster beef up superyacht sales with Dahm International deal

As part of a strategy to expand its sales and marketing of its new 30.5m (100ft) and 38.1m (125ft) sailing yacht designs Oyster Marine has signed an exclusive deal with Dahm International covering central Europe.

"The deal came about following a meeting at Monaco last year between David Tydeman, Oyster's Chief Executive and Herbert Dahm," Liz Whitman, marketing director for Oyster told SB.

"No other companies were considered," she adds, "There was a mutual meeting of minds and the deal has gone ahead just in time for the yachts to be on Dahm's stand at Düsseldorf." The area assigned to Dahm will range from Germany in the north, through countries such as Switzerland and Austria down to Italy, Greece and Turkey. It may also include Russia. Whitman suggested that Dahm would market the yachts from their existing offices in Zurich and Monaco.

Currently the first 30.5m (100ft) is in build at the RMK yard in Turkey and completion is hoped for "in time for her to be at Monaco this year," Whitman says. The first 38.1m (125ft) design is being moulded and is due to be delivered next year. Whitman explained to SB that "The current sale position is that one of each size is the sold. The 125ft yacht is the flybridge design. We have a deposit for a second 100ft and currently three prospective buyers are visiting Turkey to see the yachts in build." All these confirmed or potential buyers are from the UK.

As to whether larger designs will be developed Whitman told SB: "That is a question we are often asked and inevitably we will be led by customer demand but it is not on the radar for the next year or 24 months. We will not look at that until we have a yacht on the water." Whitman explains that the sales and market activity was being expanded across Europe, such as through the Dahm deal, but also in Hong Kong and potentially in Brazil.


Superyacht Business / David Robinson, 20 January 2010

London Boat Show 2010 - Fairline

Fairline reports strong London show

By IBI Magazine

The UK's Fairline Boats has announced that 35 yachts were sold by Fairline dealers during the London boat show's 10-day run.

Interest in the Targa 58 Gran Turismo, which made its world premiere at the show, was strong from both the press and customers, with many retail orders confirmed.

The nine-model line-up on display included the Targa 38, new Targa 44 Open, Targa 44 Gran Turismo, Targa 47 Gran Turismo, Phantom 48, Squadron 55, new Squadron 65 and the Squadron 78 Custom.

"We leave the show optimistic for the coming year with sales secured from every model in the Fairline range, including the recently announced Squadron 41 and Targa 50," says CEO Derek Carter.

Fairline, which is based in Oundle, Northamptonshire, builds motoryachts under the Targa, Phantom and Squadron marques.

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(18 January 2010

London Boat Show 2010

London show rallies over final weekend

By IBI Magazine

No doubt with a sigh of relief the organisers of the 2010 Tullett Prebon London International Boat Show, National Boat Shows (NBS), have announced that attendance for the show, blighted for much of its 10-day run by horrendous weather conditions, registered a total final attendance of 102,655 (just nine per cent down on 2009), a figure that last week must have seemed near-impossible given a backdrop of some of the UK's worst weather conditions in over a decade.

"To have welcomed over 100,000 visitors to the 2010 Tullett Prebon London International Boat Show, considering such adverse weather, has been reassuring for the Show and importantly the marine industry," said Andrew Williams, managing director of National Boat Shows. "Indeed, to have opened the show on time at 10am last Friday (January 8), with exhibitors and the show ready and waiting was an amazing achievement in itself. Feedback has been exceptional and despite a quiet few days at the beginning, the atmosphere within the halls and support from the exhibitors has been superb."

The show, which opened on January 8, was slow to get off the mark with London snowbound and harzardous traveling conditions forcing many to stay at home. Pre-ordered ticket numbers had however been doing well — the show had sold around 34,000 — but by day seven, 19,000 of those tickets had still to be used. All NBS could do was keep its finger crossed for a final bumper weekend. Unexpected heavy snowfall and further travel disruption on day six however led many to fear the worse. By day seven show attendance was down 18 per cent on the same time last year.

Inevitably mid-week exhibitor reports from the show floor were mixed given the quiet aisles over the first few days — though the general consensus appeared to be that committed boaters and most importantly those most likely to spend, had braved the weather and transport chaos to get to the event. With the weather improving, the final weekend gave the show the shot in the arm it needed, helping to nudge attendance into a more than respectable 100,000-plus.

Paul Strzelecki, chairman of National Boat Shows said: "This show has been a credit to our industry and those who work in it. We have met the dual challenges of terrible weather and a difficult economy with a spirit of positivity and enthusiasm which ensures that we start 2010 with renewed optimism, looking forward to the PSP Southampton Boat Show in September."



(18 January 2010)

America's Cup Scheduled Feb 8 - Latest Update

America's Cup outcome to be decided by New York judge?

By IBI Magazine

Dueling press releases have become a standard tactic in the lead-up to the America's Cup, scheduled to begin on February 8 in Valencia, Spain. But the most recent statements from competitors BMW-Oracle and Alinghi suggest that the outcome will be decided by a New York judge months after the event.

The two syndicates met this week in Singapore to hammer out a final agreement, but the talks broke down after two days. BMW-Oracle, through its sponsoring Golden Gate Yacht Club (GGYC), said in a statement that it had reached draft agreements three times with Alinghi through its sponsoring club, Société Nautique de Genève (SNG).

But it said Alinghi chief Ernesto Bertarelli had turned all three drafts down. "GGYC was ready to sign. SNG's negotiators were prepared to sign, but it seems they were not given permission," said Russell Coutts, CEO of BMW Oracle Racing in the statement. "This is very disappointing and frustrating."

GGYC then filed its ninth lawsuit against SNG, asking a New York Supreme Court judge to decide if Alinghi met the criteria of the America's Cup Deed of Gift and its "constructed-in-country" stipulation. "Can the Swiss defender race with sails made in the USA?" it asked in a separate statement. The two teams had previously asked the Court to settle other technical questions, such as whether Alinghi could use engines to power winches and whether rudders are included in the measurement of the yacht's length.

"Once again, SNG is showing total disregard for the Deed," said Coutts. "First, SNG claimed that sails were not part of the yacht. Then it claimed that Alinghi's sails were built in Switzerland, not the USA. Now, SNG is saying that 'constructed-in-country' is not relevant until it announces its yacht for the Match."

SNG issued its own statement, saying BMW Oracle "unilaterally aborted" the talks. "BMW Oracle has already successfully disqualified 18 teams through the US courts to gain access to the Match, now they are seeking to win the Cup without ever racing for it," said Brad Butterworth, Alinghi's skipper, in their statement. "This latest lawsuit has come as a shock, given we were planning a further meeting to finalise discussions today, it demonstrates extreme bad faith. They have completely disregarded the jurisdiction of the ISAF America's Cup Jury, which they sought so hard to have instated, and have instead reverted to the New York courts where they clearly feel they have a greater chance of success."

Butterworth said SNG's yacht was constructed in Switzerland in compliance with the Deed of Gift, adding that the sails were constructed in a sail loft in Villeneuve, Switzerland.

While the outcome may be determined by the New York judge, both sides say they are ready to race in Valencia. Observers say the 113-foot BMW-Oracle trimaran and the 115-foot Alinghi catamaran are the fastest racing yachts ever built. With no agreement on the format, the match is likely to be decided by whichever boat wins two out of three races, as mandated by the original Deed of Gift.

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(14 January 2010)

Sealine back on course

Sealine back on course

By IBI Magazine / Robert Greenwood

With the 2010 Tullett Prebon London International Boat Show currently underway one of the few notable British marine companies absent from the list of 500 exhibitors was the smallest of the UK's 'big four' powercruiser builders, Sealine International. This is the second successive year that the company had opted out of the show. But at a London meeting just before the Christmas break Sealine set out to show to a small group of boating journalists that it is now fitter and leaner than it had been at the start of the slump in the global boating market by late 2008, and that its survival strategy has so far worked and is now giving returns.

Of the four major UK powerboat builders (the others being Sunseeker, Princess and Fairline) Brunswick group-owned Sealine was the swiftest to react to the sharp reversal of almost two decades of boating market growth. Its action was decisive. Back in October 2008, as the global credit crunch was starting to bite, it announced that it was going to reduce its workforce by almost a half, to around 300, and to close two of its three factories to concentrate production on its main plant at Kidderminster, Worcestershire. Output would be cut to take pressure off dealer inventories in the face of falling demand levels.

Just a week or so later Sealine stated that it had decided to limit its participation at international boat shows to one key exposition per major market. In the UK that meant September's Southampton boat show.

It wasn't all negative news, however. The company has focused its attention on product and brand development. For greater production efficiency, its in-house design team has produced new models which, as in the car industry, are based on model 'platforms'. The well-known Terrance Conran British design group was commissioned to style the interior of a new flagship model, the T60 Aura motoryacht, which was previewed in January last year.

Sealine's next new model, announced at the London meeting and due to be launched at the 2010 Southampton boat show, will be the flybridge F42 and will be the third boat to be based on the company's 'D' hull platform model.

At Sealine's London presentation, sales and marketing director Nicholas Turner added detail to the company's survival strategy and gave a progress update on its road to recovery. Charting events, he said that "by March 2008 an EU survey of business sentiment showed that that the major European economies had passed the top of the economic cycle. By the year's end there was a strong downward trend."

The economic indicators of gross domestic product and unemployment figures, Nicholas Turner pointed out, usually lag business sentiment by three and six-to-seven months respectivley, which was why Sealine acted when it did. "We were looking to enable Sealine's business to be profitable at a lower position and to support the dealer network, so we decided that we needed to make an early adjustment. We reduced our production to 20 per cent below what we expected demand to be, so that dealer stocks have been reduced by 45 per cent worldwide. There are now fewer than 80 boats in stock."

Foreign dealers who bought stock before Sterling fell against the Euro received further help. "We stepped in to help dealers to balance the downside of the weak Pound versus the Euro," Nicholas Turner said. As a result of Sealine's action programme, "we've had only one dealer financial failure. That was in Finland," he added.

The dealer network has recently been extended with the appointment of new dealers its established markets in Germany and Portugal, and also in Egypt, a new market for the Sealine.

Vindication of Sealine's swift action is provided by its latest financial figures. "While powerboat sales generally across most European markets are down by 30 to 45 per cent, our sales figures are down by 18 per cent. We are taking market share," said Turner.

Meanwhile Sealine continues to increase its promotional activity through owner regattas. There will be 20 this year run through the dealer network as well as a Sealine Experience Flagship Powerboat Event to be staged by the company this summer at Cowes, a week after the Isle of Wight port's annual sailing regatta.
Because it had acted early and decisively, Nicholas Turner said that Sealine did not need to make any further adjustments to its operation.



(12 January 2010)

UK Boating Improvement

BMF reports 'signs of improvement' for UK boating

By IBI Magazine

Confidence is returning to the UK leisure marine industry according to the British Marine Federation, which announced future trends and 2008/2009 figures at the London International Boat Show.

Prospects for the next six months have improved, with only 12 per cent of respondents to the BMF's latest trends report now saying that they perceive the future negatively, compared to 23 per cent in spring 2009 and 38 per cent in autumn 2008.

Workload and order book value has also increased over the last six months and workforce levels are also now more stable.

In 2008/2009 the UK leisure and small commercial marine industry grew its total revenue by 1.9 per cent to £3.16bn, though the BMF points out that the Value Added Contribution — the principal measure of national economic benefit — was down 4 per cent to £1.042bn.

International trade was up 13.6 per cent in 2008/2009 to £1.248bn, or 39.5 per cent on the industry's total revenue.

The number of people employed by the sector fell during the period by 2.5 per cent to around 34,300.

Chief executive of the BMF Rob Stevens said in a statement: "We know that we cannot be complacent, and for many companies there may still be difficult times ahead, but we must also acknowledge that through hard work and sound business decision making the industry is well-poised to continue to grow in the future."

(12 January 2010)

Fairline 2010

Fairline looks forward to 2010

By IBI Magazine

Fairline CEO Derek Carter drew a line under what has arguably been the toughest 18 months in the UK boatbuilder's 42-year history when he formally unveiled the new Targa 58 Gran Turismo (pictured) at the Tullet Prebon London International Boat Show on Friday, and predicted a return to growth in 2010 for the Northamptonshire-based concern.

After taking the tough decision to scale back the business at the end of 2008 Fairline appears to have ridden out the storm and is gearing up for a profitable year ahead. "Thank heavens we took the medicine when we did," Carter told a press conference during the opening day of the London show. "We took the right decision at the right time," he said, referring to the decision to downsize the business by 40 per cent in September 2008. He added that growth in 2010 would be modest, but was optimistic that with a raft of new product launches — as well as the Targa 58, expect a new Squadron 41, Targa 50 and Squadron 50 later this year — it would be able to capitalise on the growing confidence in the market place.

"There is a stability returning," Carter told IBI. "We're seeing a progressive creep of consumer confidence — it's all about confidence."

For 2011 and beyond the boatbuilder has plans for a new 75-footer and larger.



(11 January 2010)

South Coast One Designs ( Solent Class)

Herione of Troy/South Coast One Design – By Alfred Mylne

On behalf of one of our Mylne owners we are trying to locate the owner and whereabouts of Herione of Troy or one of the South Coast One Designs (Solent Class). There are two currently known at present, being Kelpie and Eilun. The Design is just under 60ft on deck, 40ft on the water. We know that there were 9 originally built in 1903 and although a number were destroyed in a fire, we have no other information, except that Herione of Troy was registered by Mr Mabbott in 1977 in Lloyds Register.



Here at the Mylne office we have created a directory of all known Mylne yachts and would very much like to update our records to reflect the current status of the South Coast One Designs. If you have any other information on Herione of Troy or any knowledge of the history of these boats we would be delighted to hear from you. You can contact us by e-mail or simply call us at the Mylne office on 01383 873464.



Thanking you in anticipation

Mylne Office

Meet the Buyer - London Boat Show 2010

Meet the Buyer returns to London in 2010

By IBI Magazine

The British Marine Federation's (BMF) annual Meet the Buyer programme returns to the London International Boat Show next year on January 12-13, 2010.

Held in association with the department of UK Trade & Investment (UKTI), the two-day event aims to provide international and UK suppliers a platform to liaise with buyers via a series of one-to-one meetings.

Last year's event involved 23 overseas buyers and 58 UK suppliers, resulting in over 300 one-to-one meetings and the generation of significant levels of new business. This year, 25 global buyers — including boatbuilders, superyacht yards and distributors — will be taking part.

"The London International Boat Show — a showcase of our industry's excellence — provides the perfect location for the UKTI-supported Meet the Buyer event," says Christopher Uniacke, International Trade Adviser - Marine for UKTI South East. "Year on year, we successfully attract a large number of suppliers and buyers who benefit equally from the experience. Feedback we receive is always very positive, with suppliers recording a significant number of sales as a result of their participation."

The 2010 Tullett Prebon London International Boat Show will be held from January 8-17 at the ExCel exhibition centre in London's Docklands. The show normally attracts around 400 exhibitors and 122,000 visitors from around the world.


(22 December 2009)

Finnish boatyard changes ownership

By IBI Magazine

Finnish motorboat producer Finn-Marin has been recapitalised after the company's former owners, Osmo Roukala and Jarmo Kinnunen, bought back all the shares in the company.

In 2006, Roukala and Kinnunen sold the majority of the Finnish glassfibre boat manufacturer's shares to a domestic group of venture capital investors.

"By purchasing all the shares we wanted to ensure the continuation of our operations in Kokkola during the hard times presently facing the boating industry. We have established our company in 1990 and now we want to take the company through the recession and to new growth. We believe we have the assets to further strengthen our already well-positioned brands," says Roukala and Kinnunen.

"Of course succeeding requires that we will be able to convince our customers, suppliers and other cooperation partners with our work, and to re-build a cooperation concept which was so successful previously. It will require cooperation and faith," say the new owners.

Finn-Marin's range of glassfibre boats includes two well-positioned brands — FinnMaster family boats and the Grandezza premium collection. The company was founded in 1990 and is headquartered in Kokkola.

According to a group statement, Osmo Roukala will now act as managing director of Finn-Marin and Jarmo Kinnunen will be chairman of the Board of Directors.

(22 December 2009)

Profits up at Oyster Marine

Profits up at Oyster Marine

By IBI Magazine

Oyster Marine has reported an increase in turnover to £49.86m for its financial year ending December 31, 2008, up from £46.35m for the previous year. Operating profits and profits on ordinary activities before interest and taxation rose from £3.70m in 2007 to £4.73m in 2008.

The order book at year end for the UK yacht firm was in excess of £70m. The group balance sheet remains healthy with the year end cash and short term investments balance at £11m (2007: £12m). During the year average staff numbers increased to 256 from 239 in 2007.

On February 18, 2008 the entire share capital of the Group was acquired by a group of companies headed by Ocean Wave Group, backed by the Balmoral Capital organisation.

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(13 November 2009)

Princess Yachts 2008 £ results

Princess Yachts turnover and profits up in 2008

By IBI Magazine

UK boatbuilder Princess Yachts International has reported a turnover of £206,62m for the year ending December 31, 2008, up from a turnover of £195.58m for the same period in 2007. Pre-tax profits also rose, from £24.59m in 2007 to £26.58m for the year ending December 2008.

In 2008 Princess employed an average of 1,918 in its workforce at its Plymouth facilities, up from an average of 1,738 in 2007 and 1,562 in 2006.

In May this year the boatbuilder announced that it was making 316 workers redundant, including 261 compulsory job losses. The job cuts were less than had been anticipated when Princess announced in March that it would be making cuts. At the time, the company said that up to 450 jobs were likely to go. This month the company announced that 20 workers were to be re-employed.

In June the boatbuilder signed a lease on a new 15-acre site at South Yard, where it will build its new Princess 105.

In May 2008 Princess was acquired by L Capital 2 FCPR for an estimated £200 million. The consortium was sponsored by Groupe Arnault, the investment vehicle of French billionaire Bernard Arnault, and Moët Hennessy-Louis Vuitton (LVMH), the luxury goods company he runs.



(13 November 2009)