Marine Industry News

2 days ago | marineindustrynews.co.uk | Anna Cummins

Nimbus Group, the Swedish leisure motorboat manufacturer, has issued its annual report for 2024, revealing a 15 per cent revenue decline in 2024, with net sales of SEK 1.62bn (£126.36m) and an EBITA loss of SEK 60m (£4.68m). The firm says these results reflect the continued impact of high inflation, interest rates and weak global demand, particularly in Europe and the Nordic region. Profit for the year after financial items totalled a loss of SEK 80m (£6.24m).

2 days ago | marineindustrynews.co.uk | Anna Cummins

The marine security firm Global Ocean Security Technologies (GOST), a US-based provider of tracking, monitoring and video surveillance systems, has made a suite of structural and leadership changes. Company founder and former chief technology officer Brian Kane has been appointed president and chief executive officer with immediate effect. He takes over from Jay Keenan, who now assumes the role of chief marketing officer. Both executives will continue to serve on the company’s board of directors.

3 days ago | marineindustrynews.co.uk | Anna Cummins

The America’s Cup has suffered a major blow, after Alinghi Red Bull Racing announced it is terminating its America’s Cup campaign. The decision comes just days after Ineos Britannia abandoned its challenge amid an increasingly acrimonious dispute with Athena Racing – the team of Ineos’ former skipper Sir Ben Ainslie. The withdrawal of the Swiss challenger raises concerns about the future of the world’s oldest and most iconic sailing competition.

3 days ago | marineindustrynews.co.uk | Anna Cummins

The EU has paused retaliatory tariffs on US-made recreational boats until 14 July, amid continuing transatlantic trade discussions. After US President Donald Trump announced a 90-day pause on higher tariffs for goods imported into the USA — bar levies on China — the European Union confirmed a 90-day suspension of retaliatory tariffs on US-made imports, including recreational boats. First, the EU voted to approve new countermeasures (updated from 2018) against US products.

3 days ago | marineindustrynews.co.uk | Anna Cummins

Public voting is now open for the eighth edition of the Foiling Awards, which recognises achievements in foiling sport, innovation and industry between April 2024 and March 2025. The awards feature 14 categories and 92 nominees.