MARINE BUSINESS NEWS
NEWS UPDATE
08 December 2023
Publishers note
As we approach the end of 2023, many of us reflect on the year gone by. I’m sure everyone recalls the sentiment at the beginning of the year, looking forward to a full non-Covid year. While 2022 wasn’t really a Covid year, we did see it as the year to recover, and much was done differently to get there.
However, this year brought its own challenges. The weather is one that many will agree has seen some unusual patterns. We all know of the extremities that this country is famous for, from long spells of heat to the cold, floods, and the occasional cyclone. When I was growing up, Nino was a distant cousin. Nowadays, El Niño is something we will have to live with this summer, with the Bureau of Meteorology stating that an El Niño event for Australia during the 2023/2024 summer will occur. This means that parts of Australia will likely experience warmer and drier conditions with minimal rainfall, increasing the risk of heatwaves and fire danger.
The other significant challenge has been the cost of living. Of the 11 RBA board meetings in 2023, the bank lifted rates five times for a total of 1.25 percent. Those increases added to the 3 percent last year when the bank started lifting the cash rate from its record low of 0.1% in May. Those increases have added as much as $1450 in monthly repayments for borrowers on a typical $600,000 variable rate loan, according to experts.
With the cost of living, the talk is that business is not as sprightly as we had hoped for. I am also hearing that there is a move to focus on less, more profitable business, rather than fighting for volume.
2023 has had its challenges, but I have no doubt the industry will ride out the storm. I remember old Peter Hunt telling me years ago, as we were struggling with another economic challenge, that “the smart businesses will survive; this is all part of a big cycle that good businesses will get through."
Marine Business News is an Australian-owned marine industry news service publishing local and international news. If you have news stories you would like to share, please let us know by contacting our newsroom via our email at NewsRoom@MarineBusinessNews.com.au.
We invite you to look at the many more stories on our website not seen in this newsletter, as well as links to resources, photo libraries, reviews, our international events calendar, our jobs board, and now an eNews log of our past Friday newsletters.
Stay safe on the water,
Domenic Genua - Publisher
GFAB Trailers open operations facility in Gold Coast
GFAB Trailers announces official international expansion, bringing their premium jet ski and custom boat trailers to the Australian market. In response to growing demand across New Zealand and Australia, GFAB Trailers is thrilled to announce the official opening of its operations in Australia! GFAB’s unique alloy boat and jet ski trailers are now being manufactured in the new factory in Ormeau, Queensland, in addition to the original factory in Tauranga, New Zealand.
Australian tugboat responders honoured by IMO for bravery
The three crew members of the SL Diamantina, who saved 21 lives and averted an environmental disaster in July 2022, have received an Exceptional Bravery at Sea commendation from the International Maritime Organisation (IMO).
Torqeedo reveals next-generation electric outboards: the all-new Travel family
With more than 250,000 Torqeedo drive systems in the field, Torqeedo has introduced their latest product innovation. The iconic Travel motor has been delighting boaters with its outstanding efficiency, useful technology, and easy-to-use design since 2005 and more than 100,000 Travel motors have already been sold worldwide.
Australian Commercial Marine Group and Commercial Vessels Association merge
The Australian Commercial Marine Group (ACMG) has announced the successful merger with the Commercial Vessels Association (CVA). Following a resounding vote in September the CVA has now officially become an integral part of ACMG, marking a significant milestone in maritime industry.
Whales of the Whitsundays
The World Cetacean Alliance has developed a program to formally recognise and accredit destinations across the globe to become Whale Heritage Sites. The initiative certifies destinations that support and demonstrate the importance of cetaceans (whales and dolphins) in their ocean habitats.
Incat offers innovative zero emission ships to the world ferry market
Incat Tasmania has unveiled exciting new plans to do for short sea ferry services what Boeing did for the aviation industry, but with zero emissions. Led by its founder and world-renowned ferry builder Robert Clifford, Incat has been a world leader in the passenger and vehicle fast ferry market for four decades.
World’s First Electric Flying Passenger Ship Takes Off and Enters Production
In a breakthrough advancement for sustainable maritime transport, Swedish tech company Candela Technology AB announced today that the Candela P-12, the world’s first electric hydrofoiling passenger vessel, has successfully completed test flights in Stockholm. It is now progressing into serial production at Candela’s Rotebro factory.
Mercury launches new finance offer
Mercury Marine is revving up the summer excitement for boaters offering a retail finance deal on select 25 to V6 225hp outboards just in time for the warm weather. Mercury is offering a finance comparison rate of 4.99% on a range of select FourStroke and Pro XS outboards as part of the ‘Repower Now’ campaign, with this exclusive offer tailored specifically for upgrading purposes.
Ongoing investment in sustainability: Mercury invests heavily to expand renewable energy
Mercury Marine has underscored its commitment to sustainability with two new small-scale solar installations announced for its Australian operations. Mercury is installing two new 100kW solar systems – one at its Australian/New Zealand head office in Dandenong South (Victoria) and another at the company’s Boating Lifestyle Adventure (BLA) office in Murarrie, Brisbane (Queensland).
Be boat and battery safe this summer. CTEK removes the worry, so Aussies can enjoy the water
Australia is a land girth by sea and so, naturally, we Aussies love to get out on it. As the weather warms up, taking the boat out and enjoying the beautiful seascape the country has to offer is on the bucket-list for many this summer vacation. A survey by popular travel platform, booking.com, found that 55% of travelers want to go on an off-grid holiday.
From Sydney to St Barths, Elite Yacht Covers Offers Solution for Superyacht Owners
UK-based Elite Yacht Covers have introduced a solution to the superyacht sector that transcends conventional yacht covers. At the core of this revolutionary leap is their digital catalogue – a time-saving advantage ideal for superyachts cruising globally.
Inaugural Wooden Boat Festival announced for 1-3 March 2024 – Auckland
From 1-3 March 2024 a festival celebrating Auckland’s maritime heritage will be held for the first time on the waterfront. “Wooden boats are in our DNA,” says founder of the event, Tony Stevenson. “We are an island nation, connected by waterways and boats are truly integral to our way of life. Wooden boats are that connection back to our heritage.”
Bills to shape new era of disaster and emergency services for Queensland
The office of the Minister for Police and Corrective Services and Minister for Fire and Emergency Services, The Honourable Mark Ryan has advised the legislation introduced on 28 November to strengthen disaster and emergency services in Queensland will create a new generation marine rescue service and boost our State Emergency Service.
A competitive fleet set for 2023 Rolex Sydney Hobart Yacht Race
A diverse fleet, including multiple former winners, will take on the 628 nautical mile Rolex Sydney Hobart Yacht Race on Boxing Day. One hundred and thirteen boats are entered for the 78th running of Cruising Yacht Club of Australia’s (CYCA) famous race, which begins on Sydney Harbour at 1 PM on Tuesday 26 December.
Biggest shake-up in SailGP history explored in latest Racing on the Edge
The latest episode of Racing on the Edge, in partnership with Rolex, is undoubtedly the most lively and significant in the history of SailGP’s behind-the-scenes docuseries. It covers the transformation of the USA SailGP Team under new owners – spanning the world of sport, tech and entertainment – the subsequent axing of Jimmy Spithill, the ongoing feud between Canada and Spain,.
Grand Final in Jeddah crowns Emirates Team New Zealand winners
It was thrilling. It was tense. But Emirates Team New Zealand laid it all on the line, sailed accurately and consistently on the day and aced the Grand Final from start to finish to win the America’s Cup Preliminary Regatta Jeddah, presented by NEOM.
New Marine Rescue Alpine Lakes vessel passes major test ahead of going into service
The new replacement vessel for Marine Rescue Alpine Lakes has passed a sea trial at Yamba on the NSW Northern Rivers ahead of being delivered to Lake Eucumbene. Marine Rescue NSW Senior Manager Fleet, Kelvin Parkin said Alpine Lakes 20 is a first of its kind vessel designed to suit the inland waters and environment that Marine Rescue NSW volunteers face when tasked for missions.
Volunteer Marine Rescue WA
On the 19th of November, The Governor spent the morning at Two Rocks, thanking the volunteers from across Volunteer Marine Rescue WA (VRMWA) that dedicate their time to protecting the lives of our boating community. With volunteers from Mandurah, Lancelin and Two Rocks coming together, the Governor heard how valuable their work is as they recounted many of their experiences out on the water and of their preparations for the busy summer period.
