Boat companies closing

Omatako · #1 (**permalink**) 02-17-2009

It seems the world wide recession is now starting to bite the boating industry everywhere.

Cookson Yachts in Auckland has announced today that it will be paying off all of its staff when the vessel they are currently completing is done. They have no more orders in the pipeline. For those who don't know, Cookson are the guys who have historically built world class racing boats, including the AC boats for Team New Zealand.

And another iconic NZ power launch builder, Genesis, had announced imminent receivership.

Sounds bad.

billyruffn · #2 (**permalink**) 02-17-2009

You know it's getting serious when the REALLY rich guys stop building boats.

bb74 · #3 (**permalink**) 02-17-2009

add Dehler, Etap, J-Europe, to the list of those filing.... Gotta wonder how long Beneteau, Dufour, Bavaria, Hanse and some of the other volume producers are going to last.... Dreary days ahead.

grantheadifen · #4 (**permalink**) 02-17-2009

Well I can speak for Beneteau on this one a little. They are in a very VERY strong cash position. Being the largest boat builder in the world they are going to be staying. Like all however, I know they've done a few layoffs due to the slow business but I was at the Miami boat show this last weekend and saw them selling boats. What some people realize about Beneteau is that their position in the world market is so strong by leveraging their engineering and manufacturing facilities between Beneteau, Lagoon and Jeanneau. This keeps them pretty efficient. But as for all - the next 2 years are going to hurt. I was in the State of the Industry presentation by Cruising World magazine last week at the Miami Strictly sail. The numbers are way down ... but ... they are not completely stopped.

blt2ski · #5 (**permalink**) 02-17-2009

When did J-Europe file or equal? The new J97 that I happen to like intially was to be built over there. This may put a monkey wrench in that boat. The Dehler34 was another..........maybe I should quit liking some of the newer boat models........

Omatako · #6 (**permalink**) 02-17-2009

Quote:

Originally Posted by billyruffn

You know it's getting serious when the REALLY rich guys stop building boats.

It may be that the REALLY RICH guys are still buying. No word from Alloy Yachts ($35m and upwards) about having any problems yet. (maybe I shouldn't have said that

bb74 · #7 (**permalink**) 02-18-2009

Quote:

Originally Posted by blt2ski

When did J-Europe file or equal? The new J97 that I happen to like intially was to be built over there. This may put a monkey wrench in that boat. The Dehler34 was another..........maybe I should quit liking some of the newer boat models........

J-Europe filed in early January for bankruptcy protection - they won't go bust (in my view) but will be restructured (as per some of the local press).

I was asking them about the J97 as well which looks like a great boat but won't go anywhere until I know if they are capable of building it - and I don't want a bunch of disgruntled workers building a new design boat for me.... that being said over here you're looking at about 165K€ for the 97 fitted and that's about the price of a 2-3 year old J109 ready to race so I think there's something amiss with the pricing ranges anyway....

As for Dehler - they went bust in December - they had a JV with Elan that sunk them as they fitted out about 7 big hulls for Elan and unfortunately Elan couldn't pay for them when they were completed - fell like dominoes.

blt2ski · #8 (**permalink**) 02-18-2009

bb,

165euro for a 97 is a bunch! I was quoted $150-170,000 US last fall for the initial boats, then $180-200K in yr 2 or so. 109's seem to run $210-250K US. So the 97 would be a bit better.

May have to end up with an SF3200! Could be more fun sailing than the other two in some points, cruise wise, the others have a nicer interior. I'll keep my mouth shut about the X,34, 35, 37!

marty

bb74 · #9 (**permalink**) 02-18-2009

The base for the J97 is 125K~with taxes - add a bit of finishing touches to the base boat w/o sails or electronics is in the 135K€ range so fully fitted out you're looking at at least another 20-30K€ with delivery sails, electronics, security kit, anchors / chains, etc, etc....

Very pricey given the aftermarket on the 109's not to mention a 32i, 3200, 31.7 and the others of the like. I'm in no rush for the moment so we will see over the coming 18 months where the pricing goes on new and used and go from there (I do really like the X-34 as well). It's a pain having such expensive taste! ;-)

blt2ski · #10 (**permalink**) 02-18-2009

I wish I could have gotten an SF32i here on this side of the pond! ie left side of NA! Too expensive to bring over here! Is the 31.7 what we know as a 10R? or a 34.7 maybe? That appears to be another nice one, along with the 36.7. I also like the old SF35 too!

At least none of these are old shoes!

marty