GYG – Revenue increased, short-term debt racks up

GYG – Revenue increased, short-term debt racks up

Superyacht painting and maintenance firm GYG increased its annual revenue and cut non-current debt in 2017. But this latter figure overlooks the fact that short-term debt, particularly trade creditors, increased sharply. The company listed on London’s Alternative Investment Market (AIM)

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A Regal Recovery – Princess Yachts

A Regal Recovery – Princess Yachts

Princess Yachts is back in the black, with a record-breaking £770 million ($1 billion) orderbook – the highest in the company’s history. Even with an orderbook up 20% from 2016, Princess is not resting on its laurels. Princess also hinted

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Privilege Shipyard up for auction

Privilege Shipyard up for auction

Italian boatmaker Privilege Shipyard has been put up for auction almost three years after the yard’s CEO and one board member were placed under house arrest on fraud charges in 2015. The 12ha shipyard in Civitavecchiais is now listed on

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Croatia ports profiting, but for how long?

Croatia ports profiting, but for how long?

Croatian ports saw profits rise 11.2% last year, reaching 855 million Kuna ($141.3 million), but seems set to fall. The total income from Croatian ports was 855 million Kuna in 2017, with 70% (598 million Kuna) of the total being

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Oyster Yachts getting back on track

Oyster Yachts getting back on track

Oyster Yachts’s new owner, Richard Hadida, is looking to kickstart the shipyard’s production at its two main bases. The gaming entrepreneur announced on Twitter that Oyster has begun a recruitment drive just a month after he bought the ailing shipyard

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When will the Chinese superyacht market take off?

When will the Chinese superyacht market take off?

China has been a growing market for business jets, commercial aviation and helicopters for several years. However, the world’s second-largest economy has yet to witness comparable growth in superyachts. Talk of China as an emerging superyacht market really kicked off

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Floating Life Captains Meeting recap

Floating Life Captains Meeting recap

On 8th & 9th March, yacht management and charter firm Floating Life held its fifth annual captains event in Monte Carlo, bringing more than 50 captains together to discuss some of the biggest concerns they are facing right now and

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The Future of yacht insurance

The Future of yacht insurance

Yacht insurers are in a tight space. At the tail end of last year, hurricane Irma made its way across the Caribbean and settled on the Florida Keys. For insurers, the category five storm was the second costliest hurricane on

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British entrepreneur buys Oyster Marine

British entrepreneur buys Oyster Marine

After entering administration last month, Southampton-based yacht builder Oyster Marine has found a buyer – British entrepreneur Richard Hadida. The company stopped trading on 7 February after failing to secure necessary financial support to continue operating. The sites that took

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Yachts trending up, crew heading in

Yachts trending up, crew heading in

Yacht crew are moving onto bigger vessels, with the largest percentage of crew position jobs on offer being on vessels over 71 metres. According to recent data from the Clermont-Ferrand recruitment firm YPI Crew, 39% of crew jobs being offered

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