Marine Industry Exports Soar Ahead Of Projections

Marine Industry Exports Soar Ahead Of Projections

The New Zealand Marine Export Group (Marex) released their annual statistics last week at their AGM. Total exports across all segments of the industry were $365 million, up from $272 million last year.

“This is huge growth even by dot com standards,” says Lane Finley, Executive Director of the group. This year’s projected exports for the industry were $317 million.

Finley suggests the growth is strongly tied to increased exposure in foreign markets through continued marketing programs with the assistance of Trade New Zealand, the excellent reputation the industry has due to Team NZ’s defence of the America’s Cup, and the industry’s success in winning international superyacht awards.

In fact this year at the prestigious Showboats International Superyacht awards in Monaco, two New Zealand companies were awarded top awards in the sailing yacht category. Alloy Yachts International won the Best Sailing Yacht over 38 metres for “Victoria of Strathearn”, and New Zealand Yachting Developments won the Best Sailing Yacht under 38 metres for “Silver Tip”.

“This is a stunning accomplishment when one considers the size of our industry in comparison with the superyacht builders around the world,” Finley says.

Superyachts had the largest increase, growing over $40 million from $64 million to $104 million. Hardware and accessory exports jumped $39 million from $125 million to $164 million, while power boats under 25 metres enjoyed the largest percentage growth, moving ahead $30 million from $16 million to $46 million.

This is all good news for the marine industry in a non-America’s Cup year and in view of the September 11 disaster. The industry seems to be moving forward on a sound strategic plan which is coordinating skill training through the BITO and international marketing efforts through Marex to maximize growth.

Marex will again host the New Zealand Millennium Cup superyacht regatta in February next year and expects over 70 superyachts from around the world to compete for this cherished trophy.

“This will make the Millennium Cup the largest superyacht regatta in the world. If we can attract the superyachts to New Zealand, our industry will benefit significantly through the refitting and maintenance that is required to keep these fabulous boats in top condition.

"The industry did $36 million in superyacht refits and repairs during the last Cup period in 2000. This particular industry sector was poised for growth. However, it was the America's Cup that kick started it by attracting about 100 superyachts to our shores in 1999 and 2000.” says Finley.

For more information please contact:

Lane Finley, Executive Director New Zealand Marine Export Group, ph 379-2233, email lane@nzmarine.com

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