Canada’s 2025 federal budget includes a commitment to remove the luxury tax on private planes and boats, which was first introduced in September 2022. The policy – introduced by the Trudeau government – had drawn criticism from Canada’s marine industry for contributing to job losses, lower tax revenues and reduced sales. According to trade association […]
Sunseeker International, based in Poole, Dorset, on the UK south coast, has confirmed that it will receive new capital investment into the Sunseeker Group from its lenders, Cheyne Capital and Cross Ocean Partners. The lenders, who manage combined assets exceeding $20bn, have agreed to provide additional funding to support the company’s long-term operations. As part […]
The European Commission’s Sustainable Transport Investment Plan (STIP), released yesterday (5 November 2025), has become the first EU transport strategy to explicitly include recreational craft. The European Boating Industry (EBI) has welcomed the plan, which outlines a technology-neutral pathway for decarbonisation in the sector and recognises recreational boating as part of Europe’s wider green transition. […]
Twin Vee PowerCats has completed the sale of its commercial property in Marion, North Carolina, previously intended for a manufacturing facility for its subsidiary, Forza X1. The $4.25m sale was finalised on 31 October 2025, with the company confirming that the transaction will strengthen its balance sheet. Twin Vee reported that no debt, loans or […]
Oyster Yachts has opened a new service centre in Barcelona to support the growing number of Oyster owners in the Mediterranean. More than 45 yachts are now based in the city, which has become a key wintering location for owners seeking an alternative to Palma. The new facility provides refit, maintenance, engineering and guardianage services, […]
Saxdor Yachts has strengthened its footprint in North America by appointing two new exclusive dealers in Canada – Cabano Marine in Quebec and DT Powersports & Marine in Ontario – marking the Finnish boatbuilder’s official entry into the Canadian market. The move builds on a 49 per cent year-over-year sales increase in the United States, […]
Molabo, a German manufacturer of high-performance electric propulsion systems, has appointed Tommi Salonen as head of global marine sales. Salonen will lead the firm’s commercial growth in the expanding electric boating market. He brings more than two decades of international experience in marine propulsion, boat manufacturing and equipment, with previous roles including leadership positions at […]
The Inland Waterways Association (IWA) reports that three quarters of Britain’s canals face financial insecurity, as navigation authorities deal with reduced funding and increasing climate-related pressures. New mapping produced by the organisation indicates that 99 per cent of the country’s 5,000-mile network of canals and navigable rivers is expected to experience higher winter rainfall and […]
Malibu Boats Australia, a manufacturer and seller of watersports towboats, has reportedly been listed as the target of a ransomware incident by the Qilin group, a Russian-speaking ransomware gang. The company, which has operated in Australia for around three decades and forms part of the wider Malibu Boats organisation founded in California in 1982, was […]
Marine technology manufacturer Dometic has confirmed that chief financial officer Stefan Fristedt will leave the company at the end of April 2026. The company, which produces products for boats like electric coolers, fridges, toilet switches and marine stabilisers, says it has begun the process of identifying Fristedt’s successor to ensure a smooth transition. Fristedt has held […]
Castoldi, an Italian manufacturer of waterjet drives and luxury tenders, has named GLI Yachts as its exclusive distributor for tenders in Australia. GLI Yachts, which is based on the Gold Coast in Queensland, will handle the tender sales and service business for the Australian market. GLI Yachts brings extensive expertise and regional knowledge to the […]