Ever since the great recession in 2007, the yachting industry has seen a series of mergers and acquisitions with many smaller yacht businesses being incorporated into the world’s largest yachting corporations. Chinese conglomerates have bought ownership in many of well-known yacht builders, while industry leaders in America and Europe continue to diversify by acquiring other companies. The month of July saw two yacht business acquisitions.
First announced in 2015, the highly anticipated SeaXplorer expedition yacht La Datcha was finally unveiled in the beginning of July. The stunning superyacht won’t be delivered to her Russian billionaire yacht owner, banking mogul Oleg Tinkov, until the end of the summer. However, Damen Yachting officially launched the luxury vessel and will be displaying the La Datcha yacht in its private viewing event in the Netherlands, scheduled for September.
The coronavirus pandemic has affected the global economy and industries across the board. The yachting industry is no different. With travel restrictions in the Caribbean and Mediterranean putting a pause on the season, COVID-19 has had major effects on the industry and those working in it. A few industry professionals and leading influencers have talked about the changes they see happening in the industry due to the global health crisis as well as growing yachting industry concerns.
Europe was hit hard by the coronavirus, with Italy being the epicenter of the COVID-19 pandemic at one point. Hundreds of thousands of cases and thousands of deaths. After the tireless work of healthcare workers, government officials, and citizens following social distancing guidelines, many of these countries are ready to reopen to international tourists.
In response to the coronavirus pandemic, islands across the Caribbean restricted travel and closed their borders to tourism. It wasn’t just the cruise ships either, private vessels were also prevented from entering ports. This swift action helped keep the number of cases in these island nations low.
All businesses and industries around the world have been affected by the global coronavirus pandemic and the yachting industry is no exception. Perhaps one of the most immediate effects of the COVID-19 outbreak is the number of yachting industry events that were either canceled or postponed in response to COVID-19 health and safety concerns.
With many Americans stuck at home during quarantine, many are craving for safe ways to escape the confines of their houses. For those lucky enough to own a boat, that vessel can represent a sort of freedom. Nothing cures cabin fever better than going out on the water in your boat!
The yachting world was gearing up for an incredibly busy year in 2020, but then the coronavirus outbreak reached American shores. 1 States all over the country went on lockdown including Florida which declared a public health emergency in March.2 The island nations of the Caribbean took drastic measures to protect their citizens by closing their borders, leaving many yacht owners stuck in U.S. waters.
Our team at Marine Diesel Specialists is taking the COVID-19 outbreak seriously. We understand the importance of keeping our customers safe and doing our part to stop the spread of the coronavirus. Our marine diesel mechanics in Fort Lauderdale also understand that our customers still need our services even during this pandemic.
Over the past week, the media has been in a frenzy investigating whether the Microsoft billionaire, Bill Gates, bought a multimillion-dollar, hydrogen-powered superyacht. Nicknamed “The Aqua,” the vessel was designed by Sinot Yacht Architecture & Design  and costs a grand total of $644 million.
When you own a yacht for a number of years, you’ve enjoyed exploring the seas and shared many happy memories on the boat. Along with the cherished experiences came the many maintenance repairs to keep your prized possession in working order. Your engine is probably one of the most important parts of your vessel to maintain. Despite a rigorous maintenance schedule, it will eventually reach a point when you will need to repower your engine or replace it altogether. Our diesel specialists in Fort Lauderdale list some of the reasons to schedule an engine repower.
As tough and long-lasting as yacht engines are, nothing can last forever. Regular marine diesel engine maintenance provided by certified professionals can go a long way to extend the life expectancy of your marine engine. However, sooner or later, MAN yacht engines, Detroit Diesel marine engines, John Deere marine engines, and engines from all other brands will need to go through a major overhaul, be rebuilt, or even replaced.