Caribbean Compass Yachting Magazine - December 2020

BUSINESS BRIEFS
Boat Demand in the US Affected Caribbean Supplies
Robbie Ferron reports: Compass readers will be surprised to learn that one of the
challenges of marine equipment suppliers in the third quarter of 2020 was the
Robbie Ferron, founder of Budget Marine, with a recent
award from Sea Hawk Paints.
difficulty of sourcing
stock. In a period of low
demand and a
reduced economy how
could that have
been true?
It appears that many
consumers in the US,
restricted from
international travel and
unmotivated for
domestic travel,
decided that a
relatively low-risk and
attractive option would
be to purchase a new
boat. Industry
associations reported
increases in new boat
sales of between 30
and 40 percent in states
like New York. Existing
boat owners also used
their boats more and
gave them extra
attention, resulting in
numerous suppliers of
marine equipment
running out of stock. The
time it took to get
product was often three
times longer than normal.
Here is an extract from the Soundings Trade Only magazine in early September:
Marine dealers say interest in and sales of new boats remained strong in August,
but that lack of inventory created a headwind to retail activity.
“August would have been much better if we had more inventory,” wrote one of 86
dealer respondents to the Pulse Report, a survey by Baird Research that gauges
monthly market conditions. “The inventory we were getting was sold before we
could even unload it.”
Components were also creating challenges for dealers.
“Resupply of boats, motors, and trailers,” wrote another respondent, when asked
what is not working for business. “Our suppliers can’t produce to match demand…
A year that started with doubt and anxiety ended with a total wipeout of inventory
‒ it was crazy.”
Eighty-two percent of dealers reported that new boat inventory was too low and
89 percent said used boat inventory remains extremely lean and near record lows,
according to the survey administered in conjunction with the Marine Retailers
Association of the Americas and Trade Only Today.
Robbie adds: Now that winter is coming back to the northern hemisphere, this will
all settle down and Budget Marine sees its stocks returning to normal in time for the
regular Caribbean season.
For more information on Budget Marine see ad on page 2.
New VI Broker for The Multihull Company
Professional skipper Steve Varrow has taken over the helm as The Multihull
Company’s broker representative for the Virgin Islands.
For Steve, the natural progression to broker comes after a lifetime of work on boats
ROBBIE FERRON – SEA HAWK
and being at sea. At
16 years of age, he
joined Princess Yachts
in the UK as a
shipwright and from
there on he has been
on or around boats his
entire working life. For
the last 17 years, he
has been Caribbean
based as a well-known
charter skipper, RYA
Instructor, and charter
yacht broker.
Steve has five
transatlantic
catamaran deliveries
as skipper and
numerous European,
Caribbean, and East
Coast USA trips on his
extensive sailing
resume. He has
helmed virtually every model of Lagoon catamaran from the 380 to the 560, as well
as many other makes, in his role as charter skipper in the Leeward Islands and the
BVI. He has a deep technical understanding of mechanical, hydraulic, electrical,
and electronic systems on yachts and specializes in helping clients become
catamaran owners and owner operators in the charter yacht industry.
He lives aboard his classic gaff-rigged yacht, Gwendolyn, sailing between the BVI,
USVI, and Spanish Virgin Islands, and is ready to help you with all the aspects of
buying or selling your next catamaran.
Steve can be contacted at steve@multihullcompany.com or (786) 246-0809.
See ad on page 39 for more information on The Multihull Company.
Puerto del Rey’s Advanced New Acquisition
Nicole Quintero reports: Marina Puerto Del Rey in Fajardo, Puerto Rico, continues
innovating and improving client experiences, renovating their capacities and
facilities. This year, in spite
of the marina’s lockdown
due to the Governor’s
Executive Order, has not
been an exception.
Recently, Puerto del Rey
acquired two new boat
forklift machines —
Marina Bull Lo Pros, the
largest and only examples
of their category in
the Caribbean.
For the marina,
purchasing this equipment
has been an excellent
investment to grow as a
business and get a
competitive advantage in
the Caribbean market. According to Carolina Corral, Chief Executive Officer for
Puerto del Rey, “Acquisitions like these (purchase of the two Marina Bull Lo Pros) are
very important for Puerto del Rey and Puerto Rico, allowing us to compete with
marinas worldwide. This investment gives us the opportunity to continue providing
excellent service. We are the only marina in Puerto Rico and the Caribbean that
can lift heavy boats for daily use, up to 30,000 pounds,” said Corral.
The Marina Bull Lo Pro, W7.1 model, manufactured by Wiggins, is a unique addition to
the Puerto Rican and Caribbean nautical industry. The forks on its lift measure 26 feet
and are covered in rubber to protect the boats when lifting them safely and reliably. It
has a capacity to lift heavier vessels for daily use, up to 30,000 pounds and 45 feet long.
—Continued on next page
DECEMBER 2020 CARIBBEAN COMPASS PAGE 9
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