Beneteau sales up
November 25, 2011 4:31 PMBeneteau has reported sales of €921.5m for its full year ended August 31, 2011 - an 18.3 per cent rise over the previous year, reports IBI Magazine.
Beneteau boat sales grew by 21.1 per cent to €694.4m. With its sustained rate of product development (23 new models), the Group has continued to refresh and extend its ranges. In the four key areas from its development strategy (large power yachts, the Asia region, powerboats in North America and South America), it achieved sales growth of over 70 per cent, up to €67.5m.
Over the last 12 months, Beneteau has continued to develop its business in the powerboat market and now claims to be one of the leading players in Europe. At a press conference in Cannes, the company announced that the Jeanneau, Prestige, Beneteau and Monte Carlo Yachts (MCY) brands are all expanding their motor ranges with an emphasis on targeting growth in new markets.
Beneteau offers more than 100 sail and powerboat models from 6m-18m (20ft-60ft) under the Beneteau, Jeanneau, Lagoon and Prestige brands. The company also builds custom luxury yachts under the CNB marque.
from Yachting monthly
Sunseeker yachts returns to an even keel
October 3, 2011 11:27 AMSunseeker yachts returns to an even keel
It is the ultimate Hollywood blockbuster. Fast boats, bikini clad beauties, celebrity stardust, foreign billionaires with cash to burn, and a hero enjoying the high life until disaster strikes. The only trouble is it's set in the West Country.
Poole in Dorset isn't your average location for Tinsel Town movie makers but the Sunseeker tale certainly fits the bill when it comes to story lines.
The luxury yacht company was founded in the 1960s by brothers Robert and John Braithwaite and its products soon became the boys-toys of choice for the mega rich from Antibes to the Bahamas. Sunseeker motor boats turned up in James Bond films - the ultimate product endorsement - and Robert Braithwaite even made a cameo appearance in Quantum of Solace, 007's latest spectacular. But then things got difficult. Sunseeker's finances sprung a leak. The SOS call went out.
Sitting in the company's sales berth at the Southampton Boat Show, Peter Crowley looks pleased as punch. The private equity boss manned the lifeboat that came to Braithwaite's rescue and it already appears to be paying dividends.
"We couldn't be happier with how it's gone," says the gregarious Irishman, chairman of Dublin-based FL Partners. "We bought into the business in June last year and we're already profitable and in a strong cash position."
The company's recent results suggest things are at least returning to an even keel. In the year to the end of July, profits were up fourfold to £25.5m. Sales have yet to return to full throttle, down 10pc at £275m, but Crowley claims they'll be up again next year.
With stock markets heading over a cliff and the global economy running out of gas, it's quite a boast. Surely customers are cutting their cloth in the face of all the chaos?
Stewart McIntyre, Sunseeker's managing director, says that misses the point.
The opening price for one of the company's yachts is about half a million pounds, with the latest offering - a 155 foot beast - set to float with a £20m price tag. Pre-tax. For owners, think oligarchs and business barons. Bankers and Premiership footballers need not apply.
The 155-footer will cost about £15,000 to run each week. If you want to fill it with fuel, that'll be £40,000. Kitting out some of the boats with a full entertainment system? About £200,000. One owner even requested a pole dancing pole.
"Most of our customers are high net worth as opposed to mass affluent," says McIntyre, the dour Scots salesman to the upbeat Crowley. "You say they must be feeling some pain but they're robust in their capabilities."
The short and tall of it is that for many Sunseeker customers, a 20pc fall in the FTSE is neither here nor there. They're too wealthy to worry about it. Another Lehman Brothers might have a more significant impact but we're not there yet. In fact McIntyre claims the number of signed up, deposit paid orders the company has taken at this year's Boat Show significantly outnumbers last year's tally.
Demand mirrors the rise of the new economic powerhouses. Sunseeker's traditional heartlands in northern Europe, the Mediterranean and the US are tough, albeit still providing repeat orders, but growth is all about the BRIC countries. Brazil, Russia and China are all up, while business from Greece and Egypt is through the floor. Asia now accounts for a fifth of the company's sales, against just 5pc three years ago.
The key to Sunseeker's recovery, Crowley says, is that its past troubles were only skin-deep.
"What attracted us was that right through the recession, Robert kept on investing, almost to his detriment in the end, and revenues never took a real hit as a consequence," says Crowley. "The company wasn't immune but the problems weren't about the core business. He just ran into liquidity issues. The only thing that was missing was financial stability."
It was quite a miss but it's a typical entrepreneur's story. Expansion and passion in spades, without the backing of adequate systems and controls.
"Robert's only mistake was charging ahead without backfilling stronger and stronger management," he says. "The whole thing was built up on trust, which is fine until things break down.
"The main issue was the collapse of one of the two UK dealers, F&M Sales Group. It went into liquidation and to protect the brand Robert stepped in and sorted that out. And then on top of that a number of boats were sent to a foreign dealer, all on the basis of trust, and that dealer went under. The boats disappeared."
Crowley is matter of fact about the company's recent history. After all he admits the events were simply an opportunity for FL, which also owns the Racing Post. "Robert needed to strengthen the balance sheet and we came in as part of a classic refinancing," he says. "We paid off the bank in full and brought in new debt and equity."
FL's model, unlike traditional private equity, is to raise funds from a small group of investors based on particular projects. Sunseeker's "seven or eight" equity backers - who collectively put in £25m of funds -include Stagecoach founder Brian Souter and Dreams beds founder Mike Clare.
"They are guys who would prefer to say I've got this much of Sunseeker rather than I gave X amount to Blackstone or Permira," says Crowley. "We got people in who knew and loved British manufacturing and knew what a UK brand could do. When you see what's happened with Burberry, the new markets are crazy for British manufactured brands. There'd be no interest in some of them if they were manufactured elsewhere."
The company employs 2,340 staff in manufacturing in the UK, McIntyre says proudly, and has few plans to change that. The group is considering an assembly plant in Brazil - to get around the country's 100pc import duties - but Crowley insists it would "just be final stage stuff".
The group's plans include moving back into 'smaller' yachts, with a 40 footer set for release next year. Under Braithwaite's control, the company focused on larger vessels and the super-rich to try to steer a way through the downturn, but the company is now changing tack. "We want to bring in a wave of new buyers. We've let the competition get too easy at that end of the market," says McIntyre.
Despite all of the changes, Braithwaite remains a major shareholder - with about a quarter of the company - and Crowley insists there are no plans to change the status quo. "He's president of the company and is fantastic. We want to hold on to him for as long as we can," he says. "We're only at base camp in terms of the plans we have for the business. It's going to be one of those where everyone wins."
That remains to be seen. Crowley and co will just be hoping there isn't another twist of this particular Hollywood epic.
By Jonathan Sibun
from the Telegraph
Final mast removed from HMS Victory today
September 30, 2011 11:31 AMThe final mast was removed from HMS Victory, as part of the restoration work taking place on Lord Nelson's flagship.
This is the first time she'll been seen without her top masts since 1944. It's also the first time HMS Victory has undergone extensive restoration since the Battle of Trafalgar in 1805.
"Interestingly, with her topmasts are down, Victory will look much as she did after the Battle of Trafalgar when she had to be towed to Gibraltar for repairs," said Professor Dominic Tweddle, director general of the National Museum of the Royal Navy.
"We are delighted that the MoD has given the go ahead for the work on Victory," said Professor Tweddle. "Preserving a wooden warship is a battle, a battle against nature and just as epic in its way as the Battle of Trafalgar. To be able to witness how that battle is fought will be a big draw to visitors."
Visitors to Portsmouth Historic Dockyard will get the chance to see how sailing warships were built and maintained thanks to new interactive exhibition called Bones of Oak & Iron - Beneath Victory's Skin.
This free exhibition explores how she was preserved and cared for in war and peace, and explains the current restoration process that will span the next decade.
From www.yachtingmonthly.com
51 yachts in race to Labuan
September 29, 2011 11:48 AM
For the passage race, the participants will take the challenge to complete the route of which the fastest boat is expected to finish in 20 hours.
Apart from IRC Racing, participants would be judged accordingly to respective competing categories comprise Cruising A, Cruising B, Cruising C and Multi-hull along the passage race.
Last year, participating yacht from the Philippines was the champion for the IRC Racing of Miri-Labuan passage race after defeating two participating yachts from Sarawak, UluMulu and Sarawak Seahorse into second and third places respectively.
Remington from United Kingdom was the champion for the Cruising A category followed by First Light from Australia (second) and the third-placed winner was Tewai Pounamu.
For Cruising B category, Far Niente took the champion's title while Arnak (second) and Keturah (third) in the same cate- gory.
In the Cruising C category, Petima was the champion followed by Pateke (second) and Amber Nectar (third).
Zosha was the champion for Multi-hull Category, Forza (second) and Deja Vu II (third).
Boats from Australia have contributed the most number with 22, while others are from British Virgin Islands, Canada, France, Germany, Holland, New Zealand, Philippines, Singapore, Sweden, United Kingdom, United States of America and Vanuatu.
Four participating boats namely Sarawak Seahorse, Miri Magic I, UluMulu and Eloise are representing Malaysia for the race.
They are expected to arrive at Sutera Harbour Marina on the morning of July 29 followed by Kota Kinabalu Harbour Race the next day.
Prize presentation will be held in the evening at Sutera Harbour Resort.
Meanwhile, BIYC is a joint effort between Sarawak, Sabah and Federal Territory of Labuan, organised under the auspices of Malaysian Yachting Association.
It aims to promote Borneo Island and make the route between Miri, Labuan and Kota Kinabalu as one of the premier world yachting destinations.
The overall winner of the challenge this year will be those with the least scoring point on the corrected times of the Miri Bay Race, Miri to Labuan Passage Race, Labuan to Kota Kinabalu Passage Race and Kota Kinabalu Harbour Race.
From the Borneo Post
Yacht making industry shows promise in Brunei
September 28, 2011 12:52 PMAtoll Yachts, a Brunei company has set its sights on entering the multi-billion dollar luxury ship-making market by making world class yachts.
Brunei could make its mark in the economy not just in the oil and gas industry, but also with yachts.
Chief executive John Mallory Bromage said he found the Sultanate had the finest boat-building material in the world, after consulting various overseas experts.
Atoll Yachts intends to design and produce the first local brand of yachts of international standards, utilising local hardwood species the selangan batu and meranti.
the company is currently constructing a 111-foot wooden yacht dubbed Atoll III.
Located on the bank of Belait River. Atoll Yachts has been providing maintenance services for vessels around Southeast Asia since it formed on March 8, this year.
According to Bromage, the market for yachts in Southeast Asia is expanding, with 53 marinas being built in the region.
Addressing environment concerns, the CEO said the company was prepared to make a commitment to Brunei's rainforests, for every tree they take to build a yacht, they would "put two back".
Atoll Yachts would also be looking into starting apprenticeship programmes, drawing skills from local vocational and technical schools.
According to the company, Brunei has significant advantages in the industry, including no acid rain, no typhoons, a long dry season (March to October), a stable business, political and social environment as well as good security.
Duty-free imports of boat equipment, engines, electronics and low taxation and government charges augurs well for the company.
From Borneo Post
Island Optimist Trophy Regatta first for Phuket Youth Sailing Squadron
March 21, 2011 9:48 AMThe first Interclub Island Trophy Regatta hosted by the the Phuket Youth Sailing Squadron (PYSS) will be held on the 26th and 27th March with organization support and sponsorship from Topper Sail Phuket.
Fourteen sailors from Koh Samui have entered and will bringing their own boats giving a fleet of 25 boats with more to come! The event is open to anyone else who has experience with racing.
Racing starts at 10:00 and can be watched from Ao Yon Bay or Cape Panwa, but the best way is to join the Andaman Cabriolet Spectator Yacht, out on the sparkling waters. 'It's great to have the opportunity to support local sailing for young people,' said Grenville Fordham of Image Asia, who are supplying the refreshments on the spectator yacht.
There are four races per day with a post-race barbecue and get-together mid afternoon, come and join us and support our young sailors.
'It's a great pleasure to be a sponsor for this event'; says Helene Fallon Wood, from Tamarind Villa Phuket 'It is also important for the underprivileged Thai children of Phuket to enjoy their own ocean and become not only proficient but champions in the regular national sailing programme'.
The Squadron is still looking for other local companies to join in and support this event and help promote youth sailing on Phuket.
Individuals interested in supporting the Squadron are invited to join our supporters club - Friends of the PYSS for 500 baht subscription fee per year.
by Kathleen Gooch-Firmin
(Source: Sail-world, Sunday 20 Mar 2011)
Phoenix Cup 2011 - Jim 'J/Boats' Johnstone wins inaugural event
March 21, 2011 9:26 AMIt was an inauspicious start to the day - cold, rainy and miserable, and with a distinct lack of wind. Competitors looked out gloomily out from the balcony at the Royal Hong Kong Yacht Club. Many wondered - with some justification - whether the racing might be canned altogether. But when you have the assembled millions of Phoenix TV's China audience just waiting to switch off the horse racing and the gameshow channel and switch on to small boat racing in Hong Kong harbour on a Saturday afternoon - well, you'd better not disappoint!
First practice race, 1330 hrs start. Time for the live broadcast crews to practice their swing-and-pan shots, time for the pretty tv anchors to put on the foul weather gear, time for action on the water. The first start became a General Recall as almost the entire fleet of 22 J/80s was pushed gently over the line by the tide. Second start, same story. Third start and the fleet was away 'clean' for what is usually known at RHKYC as a 'Sunset' race (triangle-sausage-finish), right in front of the clubhouse.
The starting gun must have woken up the wind gods, as all of a sudden the breeze piped up, and crews suddenly found themselves sailing in 12-15 kts. A short beat to the windward mark - maybe 300 m - and then up went the colourful Phoenix TV and iFeng.com spinnakers. It was enough to make a photographer's heart glad in spite of the clagging grey (and the incessant rain) as the harbour broke out all over in a rash of red and yellow.
Leeward mark roundings with a little pressure in the sails proved troublesome for some, and a few 'interesting' moments were witnessed - and in some cases recorded. Tiffany Koo and a well-drilled crew on Jelik 6 led all the way round the track and finished with a healthy lead, but you know what they say about winning practice races...
An interlude on shore allowed time for lunch before the 'main event' at 1600 hrs - timing dependant upon the arrival Guest of Honour, Mr Tung Chee Hwa, former Chief Executive of the Hong Kong SAR. He's a busy man on a Saturday afternoon, is Mr Tung, so we just had to wait. The rain came and went, and came again, and the breeze wasn't quite so sure. But Mr Tung was on time and so was the start, and this time there were no recalls. Right on cue, in came the breeze, and the rain stopped. We never got the sunshine, but the fleet did get some good racing.
Fast-starting boats at the pin end set the pace for the first part of the race, with the fleet heading up towards the Hung Hom buoy before the pressing down towards the Shau Kei Wan mark. Almost all the boats held the North Point shore to stay out of the incoming tide, and were lifted along the line beneath the Island Eastern Corridor. 'We were tacking along the shore'' said Jim Johnstone later, 'but only changing 10-15° on the compass heading between tacks. It felt really good.' But there are two sides to any race course, and Jelik 7 with Louise Perfectua at the helm 'went the other way'. Standing on past Hung Hom and then all the way into Kowloon Bay and towards the old airport runway - a longer course, and crossing the tide completely, but at Shau Kei Wan they had a commanding lead on maybe 20 lengths. The scrap was for second place between Alchemist (Nigel Reeves), Jelignite (Jim Johnstone), and Hakawati (Dan Tullberg).
The race was Perfectua's for the taking, but the run back down back to Hung Hom was less kind than the beat up. 'Low, slow, and straight down the middle' was Jelignite's programme, while Jelik 5 tried to run the angles - but although there was wind, there wasn't enough to get a J/80 planing, and the extra distance took a toll. Perfectua later acknowledged that the v2.0 J/80 asymmetrics being used by most of the fleet (but not Jelik 5) allowed for deeper running, and a distinct advantage. By Hung Hom, Jelignite was in the lead, and Alchemist (complete with Phoenix TV anchor smiling prettily under her Phoenix TV hat) had pushed into the second slot.
The race had to last 90 minutes, according to the tv people, so the next leg went back up to Dock buoy and then returned to Hung Hom. A bit like running a pursuit race, and trying to hit a specified time for the first finisher. No matter: an 'S' flag on the Cheoy Lee at Hung Hom was a finish line, with Jelignite cruising home to a comfortable victory. And the camera boat got back to Kellett Island and under cover, beating the nasty-looking rain squall coming in from Central.
It was a brisk reach from the Hung Hom finish back to the RHKYC - the lucky ones got there before the rain re-started. And then at 1900 hrs, to coincide once again with live broadcast, prizegiving time with Mr Liu Chang Le, Chairman and CEO of Phoenix TV, and Mr KK Yeung, Executive Vice President and CFO. On this, the company's 15th birthday, Mr Yeung declared the Phoenix Cup to be a resounding success, and looked forward to another edition next year.
by Guy Nowell,
(Source: Sail-World, Sunday 20 Mar 2011)
Mirabaud safely in port after Barcelona World Race dismasting
March 21, 2011 9:20 AMMirabaud, helmed by Dominique Wavre and Michèle Paret in the Barcelona World Race, arrived in Mar del Plata at 5pm (CET) on Saturday, under jury rig. The yacht was dismasted on the 12th of March, 650 nautical miles east of the Argentinian coast and 450 nautical miles north of the Falkland's Islands.
'Clearly we are very disappointed to return to terra firma under jury rig, instead of making it home to Barcelona under sail,' commented Dominique Wavre. 'But we're glad to have made it in safely and we are really touched by the support we have received from the Argentinian authorities, the army and the Mar del Plata Yacht Club. We have also received numerous messages of support over the last few days and we'd like to sincerely thank all our friends and supporters for their help. Finally, I'd like to thank Mirabaud, who gave us incredible support during both Michèle's health problems and the dismasting.
The co-skippers were warmly welcomed by a small delegation of friends, journalists, members of their shore team and Mirabaud's local South American contacts.
The co-skippers were warmly welcomed by a small delegation of friends, journalists, members of their shore team and Mirabaud's local South American contacts.
At the time of losing their mast, the pair were in a close sixth place and battling for a podium position. Michele's health problems had rapidly improved after they rounded Cape Horn and the boat was in good shape and ready for the final push to the finish.
'Dominique Wavre and Michèle Paret handled this crisis with incredible reactivity' commented Antonio Palma, Associate and CEO of Mirabaud. 'It's often at the most difficult moments that real strength of character and clear-thinking truly come to the fore and Dominique and Michèle are proof of this.'
Dominique Wavre and Michèle Paret will now take a well-earned rest while Mirabaud will return to Europe via cargo ship.
Dominique Wavre's home page : www.dominiquewavre.com
by MaxComm Communications
(Source: Sail-World, Sunday 20 Mar 2011)
Bénéteau cruise
March 21, 2011 9:14 AMOwners club are sailing to France
The Beneteau Owners Club is running a cruise to France over the weekend of July 1-3.
The fun, family cruise will leave Port Hamble, although other South Coast start points may be added if required, and head for Cherbourg.
Free workshops will be staged before the weekend, enabling sailors of all abilities to participate.
Any Bénéteau owner can register for the event by emailing beneteau@ancasta.com.
by Andrew Brook
(Source: Yachting Monthly, Sunday, 20 March 2011)
Tracy Edwards' Maiden crew to reunite
March 21, 2011 9:08 AMAll-female team to sail in Volvo Ocean Race Legends Regatta
Tracy Edwards will be reunited with her all-female crew from the 1989-1990 Whitbread Race at the Volvo Ocean Race Legends Regatta later this year.
The two-day regatta will be before the start of the 2011-2012 Ocean Race in Alicante in November.
More than 12 racing crews that either won the round-the-world race or caused a major change in the sport will participate in the regatta.
And Edwards (pictured above) is adamant that her team aboard Maiden was one such crew. She said: 'Maiden transcended sailing because it wasn't just about getting girls on the water. It was much more than that - it was about breaking moulds and proving that anything was possible.
'It encouraged more girls to get out on the water and there was a flurry of all female crews entering the race after that though it seems to have gone backwards now that the race is no longer a Corinthian event.'
Sir Chay Blyth's Great Britain II, line honours victor in 1973-1974, will also appear at the regatta. Lawrie Smith's Rothmans, one of Maiden's rivals from 1989-1990, is signed up and it is hoped that winner of that race, Sir Peter Blake's Steinlager 2, will also attend.
by Andrew Brook
(Source: Yachting Monthly, Saturday 19 Mar 2011)
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