New Brokerage Company in Lymington

Humphreys Brokerage forms in UK

By IBI Magazine

Humphreys Yacht Design (HYD) in the UK has launched a new brokerage division to run alongside its Lymington-based design business.

Humphreys Brokerage, which is based in Lymington, Hampshire, will specialise in Humphreys designs, although other designs will also be available. Many of these are pre-owned raceboats such as Open 60s, Volvo70s/60s and Class 40s, but the main body of the listing comprises Oysters, Elans and Southerlys from the Humphreys stable.

The division is headed by Paul Kelly, a former Global Challenge Round the World race skipper, and currently comprises over 100 boats on its list.

"This is an exciting time for us all at Humphreys; it's a unique opportunity to move the Humphreys brand into the brokerage arena and to offer a new service to our loyal clients," says company director Rob Humphreys.

Beneteau announces 660 staff reduction

Bénéteau announces 60 redundancies and 600 voluntary departures

By IBI Magazine

French boatbuilder the Bénéteau Group has presented its adaptation plan to the Central Works Council, proposing 60 redundancies and 600 voluntary departures.

The number of redundancies has been limited to 60 compared to the 590 originally forecast. A total of 625 positions has been saved by short-term adaptation plans.

In April Bénéteau estimated that it was overstaffed by 1,590 positions, with difficult market conditions causing a loss of 2.7m production hours.

Measures that have allowed the group to preserve a higher number of overstaffed positions than initially expected include flexible working and the addition of a residential development.

A reorganisation of the company's executive management team has also been proposed as part of the package of measures. Under the proposal, the position of chief financial officer, held by Bruno Poloniato, will be performed as previously by chairman of the management board Bruno Cathelinais.

A further meeting with the Central Works Council will be held on June 23 before all adaptation measures are implemented.

Bénéteau reported a net loss of €20.3m for the first half of 2008/2009. At the end of the financial year 2007-2008, the group's turnover totalled €1.055bn and it employed 6,000 people at 20 production sites.

(11 June 2009)

Princess 'expansion' to build 100' yachts

Princess signs lease on new facility

By IBI Magazine

Princess Yachts International has signed the lease for a 15 acre (6 hectare) waterfront site at South Yard, Plymouth. Part of the famous Devonport Naval base, this facility has been acquired to enable Princess to commence the construction of a new range of large yachts. The bespoke craft, which will be over 100 feet, are too large to be built in Princess' existing manufacturing sites.

Chris Gates, managing director at Princess Yachts International, said, "Acquiring this land is a significant step for the company's future. We have been working for some time to achieve the waterfront location we require in the Plymouth area. Expanding locally has always been a priority not least because of the skilled workforce and supply chain we have established here over the years.

"The South Yard site will enable us to start immediate production of a new range of large craft. We have identified this market as key for Princess to ensure its growth and long term development, helping us secure stable employment for our workforce."

With the additional 15 acres at an estimated phased investment cost of around £15m, Princess Yachts International now has over 38 acres of land in Plymouth, including its Newport Street head office and manufacturing site, Coypool, Lee Mill and Langage sites. The company remains one of the largest employers in the area.

One of the first yachts to be built at the South Yard site will be the Princess 105. Heralding the start of a new range of technically advanced, long range cruising yachts, it is estimated that the first finished craft will be completed by the end of 2010. The development of these new larger models forms a major part of Princess' future expansion plans, and has helped secure the future employment of many of its existing staff.

Gates continues, "Our reputation for design, engineering and manufacturing excellence has helped make Princess one of the leading brands in the world motor yacht market. This investment means we can meet increasing worldwide demands for larger motoryachts and continue to strengthen the company for the future. We are delighted with the support we have received from the MOD, Plymouth City Council, the South West Regional Development Agency, the Homes and Communities Agency and the Plymouth City Development Company in helping achieve this."



(12 June 2009)

Sealine Launches New Flagship

Sealine launches new flagship

By IBI Magazine

Sealine has unveiled plans for their new F-Series flagship, the F46, which will be launched in September. This top of the range F-Series flybridge motoryacht will lead the design philosophy for future F-series models.

The F46 has an identical hull to that used on the SC47 launched last year. The wide beam facilitates more internal space whilst increasing the stability of the boat. The hull design aims to ensure an extremely stable cruising experience at all speeds. An automatic trim tab system maintains an ideal trim angle whilst an integrated stern lifting surface reduces the planing hump angles and increases acceleration.

The hull has been specifically designed to take advantage of a pod drive propulsion system, such as Cummins MerCruiser Zeus or Volvo Penta IPS. This in turn is complimented with a joystick docking system available from both the lower and upper helm.



(11 June 2009)

Tarqin (Trader) Boat Company appoints administrators

UK boatbuilder appoints administrators

By MBY

The Tarquin Boat Company, which manufactures and sells the Trader range of motoryachts, has appointed administrators.

Carl Faulds and James Tickell of Portland Business and Financial Solutions were appointed administrators on Tuesday 9 June.

They are inviting potential buyers for the business to come forward, and say already some Trader owners have expressed an interest in investing in the company's future.

A spokesman for Portland Business and Financial Solutions told IBI's sister magazine Motor Boat and Yachting: "Our role very much is trying to deal with existing boats which are in production and looking for buyers.

"We have only been involved for 24 hours but it is a sign of the times. People are not spending the kind of money on luxury goods that businesses like this need them to.

"They have got current orders and we're working through them but in terms of the future they have suffered a drop-off.

"We're still trying to work through where each sale is at. Customers are being contacted as we do so."

However, he asked any Trader customers or potential buyers to get in touch with Portland.

The firm does not have any stock boats to sell off.

Family-run firm Tarquin are the highest profile UK marine industry victim of the recession so far.

CEO Tony Chappell has been a key figure in the UK marine business for the past 30 years, selling boats to customers worldwide from his Emsworth base.

The news will send shockwaves throughout the industry and perhaps persuade other builders to tighten their belts yet further until the economy shows signs of improving.

Trader unveiled plans for their innovative 38 Sprint in November last year to wide acclaim, selling the first boat off-plan.

Earlier this year the firm unveiled their impressive Trader 75, a new flagship and a move into the lucrative big boat market.

The launch was timed to coincide with the marque's 30th anniversary.

(11 June 2009)