The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Monday on BoatingIndustry.com.
1. NMMA: U.S., Canadian outboard shipments up
Shipments of outboards were up in February in both the U.S. and Canada, the National Marine Manufacturers Association reported.
In the U.S., outboard engine wholesale shipments were up 5 percent year-over-year through February for NMMA’s control group of manufacturers (representing 95 percent of the market), on a rolling 12-month basis. Total retail sales based on warranty card registrations for the same period were up 7.3 percent.
For Canada, NMMA reports that through February 2016, wholesale shipments of outboard engines were up 18 percent R12M YOY. Corresponding dollars were up 28 percent. Warranty card registrations were up 3.4 percent.
2. Palm Beach International Boat show returns this week
The 31st edition of the Palm Beach International Boat Show kicks off Thursday, featuring hundreds of vessels, demonstrations and family-friendly activities. This year's show also includes a full line-up of educational workshops.
3. Toyota unveils concept boat at Japan Boat Show
Toyota revealed a new multi-material hull design at this year's Japan Boat Show, Motor Authority reported.
Toyota, besides building automobiles, manufactures boats in Japan as well.
According to the report, Toyota’s traditional aluminum hulls are difficult to weld and manufacture in large numbers, so the new multi-material hull design combines "Toyota’s aluminum and carbon fiber knowhow with fiberglass-reinforced plastic molding technology from fellow Japanese firm Yanmar."
4. Goldman: 'Quits and Gross Hiring Are Mostly Back to Normal'
However, there is still more progress needed for a full recovery, the report says: "But the recovery in dynamism still looks somewhat incomplete. In particular, re-employment rates for the long-term unemployed have yet to fully normalize. We see this as an indication that despite considerable progress, the labor market has not yet fully healed."
5. Biofuel producer sentenced for 'green credit' swindle
According to prosecutors, Philip Joseph Rivkin made only a few vats of actual renewable fuel, but sold millions of dollars worth of renewable fuel credits to companies including Chevron, BP and others.
Under the Renewable Fuel Standard, companies that refine, import or blend fossil fuels must meet quotas for the amount of renewable fuel they bring to market. They can meet those requirements by making their own biofuel or purchasing credits from other producers.
are required to meet individual quotas based on the volume of fuel they bring to the market. They can satisfy those quotas by making their own biofuel or purchasing credits.