Fuel prices rose, boaters’ budgets tightened, and marina activity and sales dried up through most of the summer for local marine businesses.
But several local operations said they’ve seen some positive signs in the last few weeks as fuel prices slid about 50 cents in most areas. It may not be much, but the positive perception has made a difference, said Ed Hartman, owner of Annapolis Landing Marina.
“Our marina is full. People aren’t selling their boats, they’re just using them in a different way,” he said. “They’re being more cautious, taking shorter trips on their boats, they’re using them as floating cottages [at the docks], rather than transportation to somewhere.”
Hartman said sailboats took precedence this summer over their fuel-guzzling counterparts, but said maritime business overall in downtown Annapolis has been steady despite the tough economy.
Local marine events have seen a slight decrease in participation, said Roger Mooney, manager of Jarrett Bay Yacht Sales in Canton. He said a recent sport fishing tournament in Ocean City drew about 300 boats, down from 400 last year, and other events had a similar slip.
However, his dealership has still moved a few high-end yachts this summer in the $1 million to $2.3 million range, well above the average buyer’s market where the economy has had the biggest effect. Mooney said several inquiries came from overseas buyers, thanks to a weakened dollar.
“It [the summer] was kind of slow, but there are buyers out there,” Mooney said. “Boats are selling if they’re priced right. Everyone is looking for a deal.”
The high-end charter business has also fared well, said Kris Vereen, business manager of Bay Yacht Sales in Annapolis, and an associated company, Let’s Go Cruising.
Much of the charter business is made up of returning customers, who plan an event each year and are less affected by economic circumstances. “If people have money at this level [to buy a boat], or to even charter a boat, they’re going to do it,” she said. “Especially with sailboats, they’re insulated somewhat from the motorboat demise because there’s no fuel or gas.”
The true test will come when the first of the fall boat shows opens in Newport, R.I., on Sept. 11. Though not run by Hartman’s company, it will be a good indicator of the public’s interest in boating, he said.
“We still don’t know about that,” he said. “We all have our eyes on it.”
Boating by the numbers
- 59.1 million U.S. adults went boating
- 25.9 percent of people 18 years old and up went boating
- 16.93 million boats, registered and nonregistered, are in use
- 11.13 million motorboats, 1.23 million personal watercraft, 1.55 million sailboats and 3.01 million other watercraft are in use
Source: National Maritime Manufacturers Association recreational boating study, 2007
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