Category Archives: Marine News

The former head of Burger Boat Co. has gone to the dogs – as in hot dogs. Former boatbuilding executive goes from Burger to hot dogs

Fountain Powerboat Industries Inc. has retained investment banker Jacobs Capital to help the boatbuilder find a partner that can provide additional capital to get through the economic downturn and finance future growth. Fountain looks for more capital

Genmar Holdings, the second-largest boatbuilder in the US, filed for Chapter 11 bankruptcy protection on Monday. A petition filed in the US Bankruptcy Court in Minnesota listed the assets of the company as US$237.5m, with liabilities of US$216.5m. Genmar chairman Irwin Jacobs told the Minneapolis Star-Tribune that the the bankruptcy petition does not include moreContinueContinue reading “Genmar files for Chapter 11 bankruptcy protection”

  The Environmental Protection Agency is preparing to make an important and far-reaching decision this year that will affect more than 500 million gasoline engines powering everything from large pickups to family cars to lawn mowers: whether to grant the ethanol industry’s request to raise the maximum amount of ethanol that can be added toContinueContinue reading “Ethanol Industry’s 15% Solution Raises Concerns –”

American Global Yacht Group has entered into an agreement to acquire Southport Boat Works. The agreement is expected to be completed within the next few weeks. AGYG says it will continue to produce Southport fiberglass sportfishing boats at the 52,000-square-foot plant in Leland, N.C. Southport builds a line of 26- and 28-foot sportfishing boats andContinueContinue reading “AGYG acquiring Southport Boat Works”

  The National Marine Manufacturers Association is working with partners outside the marine industry to stop the push for higher ethanol levels in gasoline NMMA joins effort to stop E15 fuel blends

A recent report from the National Oceanic and Atmospheric Administration shows that polybrominated diphenyl ethers, or PBDEs, are contaminating U.S. coastal waters at greater levels than a decade ago ENVIRONMENTAL WATCH: flame-retardant chemicals in coastal waters

Analysts say that GE’s tightening of its floorplan lending standards could seriously affect the marine industry, where it is the primary source of commercial credit. GE recently announced substantially higher interest rates, tougher requirements on curtailments, higher up-front “stocking fees,” and extended repurchase commitments for manufacturers, Edward Aaron, analyst with RBC Capital Markets noted inContinueContinue reading “Analysts weigh in on GE lending plan”

The assets of 129 Boater’s World stores will be liquidated by the company that submitted the largest bid for the retail chain. Boater’s World parent company, Ritz Camera Centers, should collect about US$40m from the sale. Boater’s World to be liquidated

When the assets of Boater’s World come up for auction today in New York, most of the marine accessories segment will be anxiously awaiting the outcome. The 130-store retailer, the second-largest US national retail chain behind West Marine, is a primary customer for hundreds of accessories manufacturers Nail-biter: US accessories manufacturers watch Boater’s World bankruptcyContinueContinue reading “Nail-biter: US accessories manufacturers watch Boater’s World bankruptcy auction”

The Navy and NASA are both opposed to offshore drilling; 72 percent of Virginia’s offshore drilling zone is within the Navy’s Virginia Capes Operating Area, the principal training area for air, surface and submarine units as well as a testing area for new vessels, aircraft and weapon systems. Oil/fire and ordinance don’t mix. Florida willContinueContinue reading “Here’s why offshore drilling is bad for Va.”

The US Coast Guard has started a search for four football players whose fishing boat did not return to its home port in Florida on Saturday. The boating group included two professional NFL football players, Corey Smith of the Detroit Lions, and Victor ("Marquis") Cooper of the Oakland Raiders. Nick Schuyler and William Bleakley, formerContinueContinue reading “US Coast Guard searches for missing NFL players”

With winds as high as 120 mph and swells of 15 feet, four crewmen this week were forced to abandon their grounded 58-foot commercial fishing vessel and make their way to one of the Aleutian Islands to await rescue. VIDEO: Rescue drama off Alaska

The more than 90-year-old company added the Boater’s World chain in the late 1980s, and said it “proved to be a positive contributor to the company’s profitability for a number of years and generated a positive cash flow through 2007.” Boater’s World parent company files for Chapter 11

  Genmar announced today that it has entered new markets with its VEC technology. It has started manufacturing blades for the wind energy market. Genmar is also building special containers for the US Army National Guard. It recently received US$1.5 million for an initial test order, and delivered the first VEC containers last week. GenmarContinueContinue reading “Genmar enters wind turbine market”

The builder of center console catamarans has also been evicted from its manufacturing facilities by Twin Vee’s founder, Roger Dunshee, who says the company still owes him US$200,000 in back rent. Dunshee sold his majority share in the company in 2003 to Tampa-based investment firm Stonehenge Capital Co. for an undisclosed sum. Twin Vee boatsContinueContinue reading “Twin Vee boats files Chapter 11 bankruptcy”

One of the world’s largest boat shows is gracing the docks of Miami Beach this weekend, which means it’s time to forget about the recession and dream like it’s 2005.   Hundreds of yachts and smaller boats are displayed as part of the Miami International Boat Show in the Indian Creek waterway in Miami Beach,ContinueContinue reading “My Way News – Miami Boat Show draws dreamers, bargain hunters”

Fountain Powerboat Industries started trading on Pink Sheets under the symbol FPWB. As of this morning, the stock was trading at 12 cents per share. Fountain now trading on Pink Sheets

Despite today’s stormy economy, the timing probably couldn’t be better for proceeding with an experimental wind farm about 12 miles off Virginia Beach’s shoreline. Tilting toward wind off Virginia’s coast | HamptonRoads.com | PilotOnline.com

Lives were saved and Farlow – a captain with Tow Boat U.S. – has been presented with a national award because of it. Tow boat captain earns honor for lifesaving rescue | HamptonRoads.com | PilotOnline.com

Fountain Powerboat Industries today reported a 61 percent drop in net sales for its fiscal 2009 second quarter due to the continuing downturn in marine sales that accelerated during the quarter ending Dec. 31. Fountain reports drop in 2Q sales

In paperwork filed today with the Securities and Exchange Commission, the company disclosed it was notified that it was subject to immediate delisting unless it appealed the exchange’s decision by Feb. 2.“In light of current economic conditions in general and, in particular, conditions within the marine industry, the company does not believe it can regainContinueContinue reading “Delisting procedures started for Fountain”

District Court judge in southern Florida recently denied a request to dismiss a lawsuit regarding the damage that gasoline blended with ethanol does to boat engines and fuel tanks. Judge lets ethanol suit move forward

The U.S. Coast Guard is reminding boaters and pilots to switch to digital emergency beacons by the end of this month. Beginning Feb. 1, the Coast Guard and other service and rescue personnel will respond only to digital 406-MHz Emergency Position Indicating Radio Beacons, or EPIRBs, for distress calls. Boaters, pilots reminded to switch toContinueContinue reading “Boaters, pilots reminded to switch to digital Feb. 1”

Watch how New York’s lower Hudson River commercial marine community sprang into action Thursday, working alongside the Coast Guard and other emergency personnel to rescue all 155 passengers of the downed US Airways plane from the 35-degree water. VIDEO: Pilot, marine community avert disaster

Brunswick Corp has sold its Albemarle Boats brand to a North Carolina businessman, according to a local newspaper. Scott McLaughlin, who owns several businesses around the state, including Cypress Cove Marina in Columbia, has purchased the boat company and its manufacturing facility for an undisclosed amount. Brunswick sells Albemarle Boats

Jellyfish blooms are ruining some of the world’s most beautiful vacation spots, according to a new online report by the National Science Foundation on massive jellyfish swarms in U.S. waters and around the world. Jellyfish Swarms Invade Ecosystems Out of Balance

Mercury Marine is offering extended warranties as part of its “5 & Drive” sales event.U.S. customers who purchase a qualifying Mercury outboard from a participating dealer now until April 15 will receive up to a five-year limited factory-backed, non-declining warranty Mercury extending outboard warranties

Fountain Powerboats, under its Fountain by Baja subsidiary, borrowed $4 million from Baja Marine Corp., a former Brunswick subsidiary, to buy assets of the boat company, according to documents filed last week with the Securities and Exchange Commission More details on the Baja-Fountain deal

A Bush administration nudge toward opening waters off Virginia for oil and gas leasing is rankling environmentalists, who have begun lobbying President-elect Barack Obama to reinstate an offshore drilling ban lifted by President George W. Bush last summer. Baltimore Sun News Article Oil, natural gas plans for Va. coast raise concerns in N.C. | StarNewsOnline.comContinueContinue reading “Oil, natural gas plans for Va. coast raise concerns in N.C.”

Starting boat rentals the week of Thanksgiving. The 21 Open is $245 per day: the 28’ 25 Sport is $445 per day (includes insurance premium):   Renters will have a written credit card authorization of $500 for damage (we will not scan your card unless there is damage) and you will be billed one dailyContinueContinue reading “Virginia Beach Contender Starts Boat Rentals”

  Grady-White Boats owner is honored – News | Reflector.com

The federal government is moving forward with the process to lease land off the Virginia coast for oil and gas exploration. Off-shore Drilling Moves Forward in Va. | Washington Bureau

Kerby Brown, a daredevil surfer, is pictured tackling a giant 41 foot wave in a bid to win himself a prestigious award.    The moment surfer takes on 41-foot monster wave… and lives to tell the tale | Mail Online You Tube Video

Hell’s Bay Boatworks of Titusville, Fla., is reporting “remarkable” business since its recent merger with Gordon Boatworks.“Sales are up dramatically from last year,” Hell’s Bay Boatworks owner and president Chris Peterson told Soundings Trade Only this morning. Hell’s Bay reports increase in sales

Tracker Marine is closing its Mako Marine International boatbuilding plant in Forest City, North Carolina by the end the year. According to local news sources, the closure will result in 125 job cuts. Tracker Marine to shut down Mako boat production facility

US boatbuilders Mainship Corporation and Luhrs Corporation will close their St Augustine, Florida plant and relocate their operations to Luhrs Marine Group’s existing Millville, New Jersey production facility. Luhrs, Mainship, Silverton and Ovation centralise

  Hatteras Yachts is making changes to its production schedule that call for fewer hours for employees, four-day work weeks, and a two-week plant closing in December, a spokesman for Brunswick Corp. confirmed this morning Hatteras going with leaner operations

Offshore drilling could provide much-needed energy or create huge environmental problems, panelists at a Richmond Times-Dispatch Public Square said last night. The debate at the newspaper’s downtown offices drew about 40 people, including the four panelists – two in support of drilling for oil or natural gas and two against. Maritime news, commercial marine directoryContinueContinue reading “Virginia Offshore Oil Drilling’s Promise and Problems”

Now that Congress has allowed a longstanding ban on offshore oil drilling to expire, should oil companies be allowed to search for oil off the coast of Virginia? Drilling for oil off Virginia’s coast could help reduce America’s crippling reliance on foreign fuel and bring jobs and revenue to the state, while posing no significantContinueContinue reading “Virginia Ahead of Curve for Offshore Oil”

CHICAGO (AP) — Beleaguered boatmaker Brunswick Corp. said it will cut 1,400 more jobs as the company shuts four plants and furloughs workers at three more — the latest round of layoffs as boat sales slump to near-record levels. Brunswick Closing 4 Plants, Cuts 1,400 Jobs

Forty-five miles off Cape Hatteras, Chevron USA said a decade ago, lay a colossal gamble that sounds sweet today. The oil company reckoned only a 7 percent chance of striking oil or gas more than 11,000 feet under the sea floor. The potential reserves, however, could become the largest found since Alaska’s Prudhoe Bay, theContinueContinue reading “Will Oil Companies Invest in Drilling Off the Coast of N.C.?: Some Experts Weigh the Likelihood and Feasibility of Tapping Resources in the Mid-Atlantic.”

Oct. 3–North Carolina’s ferry boat crews have been reminded of the importance of adequate staffing after an incident two weeks ago in which a ferry captain died at the wheel of his vessel and his backup wasn’t on the boat. WorkBoat.com

Fountain Powerboat Industries said this morning that a recent auditor’s opinion raising concerns about the company’s finances is a “formality.”“This is the second year in a row we’ve had a net loss,” Irving Smith, Fountain CFO, told Soundings Trade Only this morning. “Based on that, the auditor is required to put a going concern opinionContinueContinue reading “Fountain: Auditor’s opinion no cause for concern”

According to Info-Link’s rolling 12-month "Bellwether" report of the US retail market, retail sales slid about 2.5 per cent from July to August. Retail sales were off by 23.6 per cent for the 12-month rolling period ended in August, compared to the previous 12-month period from July 2006 through August 2007. Info-Link’s Bellwether report includesContinueContinue reading “US retail boat sales continue decline through August”

An independent accounting firm has raised doubts about Fountain Powerboat Industries’ ability to stay in business Firm has doubts about Fountain’s future

Fountain Powerboat Industries today reported net sales of US$20.7 million for the fourth quarter ended June 30, 2008, compared to US$19.9 million for the same period a year ago. Its net income for the quarter was US$258,305 compared to US$535,059 for the same period a year ago. Fountain reports higher net sales for Q4

New Jersey-based Viking Yachts, Ocean Yachts and Egg Harbor Yachts have all confirmed layoffs this summer, according to a local news source. The builders, which build large sportfishermen and motoryachts, said that lower orders have prompted the layoffs. New Jersey boatbuilders join layoff cycle

The American Stock Exchange has given Fountain Powerboat Industries an extension to regain compliance for continued listing on the exchange. Fountain gets listing extension from Amex

When I think about the evolution of fishing boats, it’s mind-boggling. In the early days of my fishing career, guiding and chasing the tournament trails, my fishing boat was a pretty simple outfit. It measured 16 feet, had a 40-horse outboard, a 12-volt trolling motor and a single flasher for sonar. The only electric accessoriesContinueContinue reading “Have the power to fish longer with today’s equipment”

The North Carolina General Assembly yesterday overrode Gov. Michael Easley’s veto of a bill that allows for an increase in the size of boats that can be transported on the state’s highways N.C. law allows bigger boats on highways

  Gander Mountain Company today reported sales of US$252.9 million for its second quarter ended August 2, 2008, a 16.8 per cent increase over the same period a year ago. The company also reported a net loss of US$4.9 million compared to a net loss of US$9.7 million a year ago. Gander Mountain reports higherContinueContinue reading “Gander Mountain reports higher Q2 sales, lower net loss”

A Virginia aquarium team will release three Kemp’s ridley sea turtles on the Eastern Shore today. The Virginia Aquarium and Marine Science Center said the release of the turtles, named Snap, Crackle and Pop, is scheduled for 11 a.m. at Cape Charles. Aquarium officials say the turtles were rescued last month from the cooling waterContinueContinue reading “Sea turtles to be released at Cape Charles”

Fountain Powerboat Industries president R. David Knight resigned from the company. Knight, who also served as president of its operating subsidiary Fountain Powerboats, left the company effective last Friday, according to a document filed with the Securities and Exchange Commission. The document says Knight submitted his resignation Aug. 20 Fountain president resigns

A Florida boat owner last week filed a lawsuit against US oil companies, alleging they sold ethanol-blended fuel to boaters while knowing it would cause damage to engines. Florida boat owner Erick Kelecseny claims that his boat engine and fuel tank were damaged by ethanol-blended gas. Florida boater sues oil companies over ethanol, with eyeContinueContinue reading “Florida boater sues oil companies over ethanol, with eye to class action suit”

  Watermen’s groups to consider merger today – News – inRich.com

Hatteras and Albemarle yachts and sportfishing boats are eliminating about 325 positions from the New Bern and Edenton, N.C., plants, effective immediately. The announcement was made Thursday to employees Hatteras, Albemarle will cut 325 jobs

  Cobia to stop production at N.C. plant

  Brunswick shares soar by 13 per cent

  Garmin posts double-digit gains in sales, profits

  Trade Only Today – The Boating Business Newspaper Online | Articles | President Bush signs 2008 Clean Boating Act into law

Congress has voted to continue a recreational boat exemption from permit requirements that were being considered by the Environmental Protection Agency. In the EPA’s latest permit-regulation draft for vessels, the agency wanted to lump smaller recreational boats in with bigger commercial tankers and container ships under the National Pollutant Discharge Elimination System. Outdoors notebook: PermitContinueContinue reading “Permit exemption for recreational boaters extended”

  Fountain Powerboats plans to add 250 jobs

  FishingWorld.com – News Center

The nation’s oldest continuously running hydroplane boat races, the Hampton Cup Regatta, celebrate their 82nd anniversary Aug. 8-10. GUIDEBOOK – Sports – inRich.com

The NOAA Chesapeake Bay Office will deploy a “smart buoy” at the mouth of the Rappahannock River to take observations of the Bay’s changing conditions. A part of the Chesapeake Bay Interpretive Buoy System (CBIBS), this is the fourth interpretative buoy to mark the Captain John Smith Chesapeake National Historic Trail. NOAA Deploys Smart Buoy

The new federal farm bill promises a bumper crop of subsidies for farmers in Virginia and five other states to keep water pollution out of the Chesapeake Bay. Bill offers funds for Chesapeake Bay effort – Sports – inRich.com

  Crude futures near record $143 a barrel as dollar loses value – Richmond, Virginia, Business News and Financial Information – inRich.com

Brunswick Corp announced this morning a dramatic "resizing" of its marine operations. The company said in a statement that it plans to reduce its fixed-cost structure by US$300 million, and that it would reduce its boat plants to 17 by the end of 2009, compared to 29 in operation last year. It notified employees todayContinueContinue reading “Brunswick announces dramatic US$300 million cost-cutting program”

  Picture of previous launch at Wallops Island Chincoteague Reports: Rocket Launches Scheduled for June

  US skiff producers merge

  Brunswick to suspend production at most US fiberglass boat plants for July

  Raymarine warns of lower sales

  Trade Only Today – The Boating Business Newspaper Online | Articles | WeatherBug adds boat section to Web site

  Trade Only Today – The Boating Business Newspaper Online | Articles | Arkansas boat makers announce cutbacks

  Trade Only Today – The Boating Business Newspaper Online | Articles | Fountain could be delisted from stock exchange

  Fuel prices hurt charter fishing – News – inRich.com

  Dismal Swamp fire now covers 2,400 acres; smoke invades Hampton Roads, North Carolina | HamptonRoads.com | PilotOnline.com

Boston Whaler filed a notice with the Agency for Workforce Innovation in Florida saying that it intends to lay off about 250 workers from the end of June through July. Brunswick to suspend production at most US fiberglass boat plants for July

  The Miss Ann, an 82-year-old yacht whose elegance reflected the refinements of a Northern Neck resort and the tastes of the guests who stayed there, has been sold. Tides Inn sells yacht Miss Ann – News – inRich.com  The Rappahanock Record-Miss Ann Sold

  Yes, that’s a fire you smell — the big N.C. wildfire – News – inRich.com

  Trade Only Today – The Boating Business Newspaper Online | Articles | Gander Mountain reports first-quarter loss

  Link: HamptonRoads.com | PilotOnline.com

  Brunswick To Discontinue Brand, Close Plant

A California law firm this week filed a class action lawsuit in U.S. District Court in Los Angeles, alleging oil companies failed to inform boat owners that ethanol causes damage to fiberglass fuel tanks. Link: Trade Only Today – The Boating Business Newspaper Online | Articles | Ethanol suit filed on behalf of boat ownersContinueContinue reading “Ethanol suit filed on behalf of boat owners in Calif.”

  Link: FishingWorld.com – News Center

    NOT YET. As all the locals know, The Miss Ann was put on the market last winter. A reliable source sends BIG BOY Fishing the above photo of Miss Ann Docked at a Washington, DC Marina. BIG BOY Fishing contacted The Tides Inn and was informed that The Miss Ann returns to Carter’sContinueContinue reading “HAS THE TIDES INN SOLD MISS ANN?”

  Mercury Marine cuts 50 salaried positions

  West Marine receives delisting notice from NASDAQ

  Trade Only Today – The Boating Business Newspaper Online | Articles | Raymarine stock jumps on buyout offer news

  Outdoors Notebook: N.C. saltwater fishing license a worldwide hit | HamptonRoads.com | PilotOnline.com

  Maritime news, commercial marine directory and day rates – WorkBoat.com

  AP News – inRich.com

  Brunswick sells Baja to Fountain Powerboats, says it will shut down Ohio plant

  Maritime news, commercial marine directory and day rates – WorkBoat.com

  Fish kills may be back – Breaking News – inRich.com

  Thanks David and Max and everyone involved.  My wife has taught and spent time with this special little girl, so this really hits home.  Let me know if there is anything I can do to help, make more people aware of her problems.  David, you and Max our true winners in my opinion, andContinueContinue reading “RE: My post on the IDEA League & many thanks!!!!”

  Group opposes off-loads at Crab Creek boat ramps | HamptonRoads.com | PilotOnline.com

  Breaking from Newsmax.com Kennedy Dumps Fuel into Nantucket Sound The local photographer was so shocked by the oil slick coming from Kennedy’s yacht Mya that he rowed his dinghy out to question the crew member left aboard. Ted Kennedy Joins Deck of Weasels This e-mail was sent by: Newsmax.com4152 West Blue Heron Blvd, SteContinueContinue reading “Kennedy Dumps Fuel into Nantucket Sound”