Yacht.com Blog

It seems there has been an abundance of press lately on the downturn of the boating industry in these global troubled economic times.  Friends are sending me links daily to reports they are seeing on general interest outlets.  The mystery behind the big money yachting companies has always been a source of interest to my friends who work in other sectors, but now they are seeing that the percentages of loss have been massive for some of the most successful and profitable builders we have seen in the past decade.  Sportsfishing giant, Viking Yachts last week reported its final round of layoffs – 540 out of a New Gretna, NJ workforce of 1400.  40 percent is a big number for a small town.  Maybe it’s because of tax season, or possibly because of the highly publicized seizing of Madoff’s 2m yacht in Florida and subsequent repossession of his larger $7m yacht in the French Riviera. It could just be that mainstream media wanted a new story beside the demise of the US auto industry in Detroit and the nationwide housing crisis. CNBC covered the growing inventory in a boat repossession company in South Florida last night.  Watch below.

Here at Yacht.com, we know it is important to boaters to know what is going on with their associated organizations, manufacturers and dealerships.  We have the function to pull news relating to all of these things and deliver it in a concise format right in your news tab.  We know that getting your boating news in one place will simplify things.  In the meantime, here are some links of articles I have been following.  We want to stay informed, no matter what the headlines are – and we know you do to.  Feel free to send me comments, links or articles.

Viking Yacht cuts nearly 600 jobs Forbes Magazine / Associated Press.  April 10, 2009

Anxiety Is Up as Orders Fall at Boatyards New York Times. April 3, 2009

Stormy Seas for Europe’s Luxury Yacht Makers Business Week.  April 10, 2009

The spinnakers of the 2009 St Barths Bucket on the final round island race day.

I have just returned from one of the more fun yachting events in the world – the St. Barths Bucket.  The participants racing on the  34 superyachts were treated to 3 perfect days of 15-20 kt winds, Caribbean blue water and the spirit of taking a 100′+ boat and racing it like a 36′ club champion.   Typically, these yachts live in sailors worlds as the lovely ladies gracing calendar pictures on the walls of our homes and offices, or the screensavers of people wanting the distraction to dream of luxury cruising in million dollar style.  That’s what makes a Bucket Regatta so unique – these boats not built for racing dominate courses and maneuver around marks like their smaller cousins.

This years fleet ranged from the massive 289′ tri-masted MALTESE FALCON to the 76′ W-Class boat Wild Horses.  There were 9 Perini Navi’s, including the new BARRACUDA, unmistakable with its purple sails outfitting the massive ketch rig.  After 3 days of racing, the 2 year old 170′ Huisman-built schooner, METEOR won with a 1-13-4 record.  The race committee was busy as on the final day of racing, the complex handicapping of the fleet paid off having 12 boats cross the finish line within 3 minutes of one another.  That’s an incredibly close finish considering the course was around St. Barths, a 2+ hr trip and piling 12 boats next to each other across the line takes some communication to finish safely.

Look for photos coming to a marine photographers calendar near you and certainly stay tuned for next year.  Much of the industry may be suffering from downturns but this fleet does not seem to be disappearing anytime soon.