Boat makers upbeat on sales due to oil price recovery
The four-day Abu Dhabi International Boat Show kicks off with luxury boats on display
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The inaugural edition of the Abu Dhabi International Boat Show (ADIBS) kicked off yesterday with boat manufacturers expressing optimism about demand increasing due to the recovery in oil prices.
In the last few years, sales of some categories of boats saw a dip due to low oil prices. With the uptick in oil prices, sales are expected to go up, top executives told Gulf News at the boat show.
“We have seen a dip in certain sizes anywhere from 30 to 40 feet... anything beyond 80 feet we saw an increase. So for us, we did very good, but we do see demand increasing with ■ the increase in oil prices,” said Ahmad Al Ameeri, chief executive officer of Seas and Deserts Group and official dealer for Azimut Yachts in the Gulf region.
Speaking about the trends in luxury yachts, he said sizes are increasing and coming with new features. “Yachts are becoming more exciting with new designs and models. People tend to spend more time on yachts than before,” he said.
Azimut Yachts, one of the world’s leading luxury yacht manufacturers with seven offices in the Middle East, including the UAE, made its debut at the Abu Dhabi International Boat Show.
The Azimut Yachts collection has the widest product range in the world, with sizes ranging from 10 metres to 35 metres, he added.
Gregory Yeakle, chief executive officer of Ajman-based Gulf Craft also expressed optimism about demand going up due to rise in oil prices.
“We sell worldwide with the Gulf being the primary market. We just reinforced our presence in Europe,” he said adding that 70 per cent of their boats are exported.
The company is involved in the manufacture of touring boats, leisure cruises, adventure lines and luxury yachts, among others.