Grand Banks Trawlers Reports Strong Singapore Show

The 2013 Singapore Yacht Show, held April 18-21, did not experience any lags in participation despite being scheduled concurrently with Boat Asia for the first time. In fact, the Singapore show more than doubled exhibitor numbers.

“Initial reports indicate visitor numbers have more than doubled since last year’s show, and exhibitors are reporting promising discussions they expect to convert to sales by the end of the week,” according to a release on the show website.

Grand Banks, which trades on the Singapore Stock Exchange, exhibited 2 brand new Heritage Series models at the boat show: the Grand Banks 43EU and the 54EU.

“This is by far the biggest and best show I’ve attended in Singapore,” Hensel said. “The traffic was very strong, both in quantity and quality. I’m very confident that we will secure some sales as a result of this show, based on the number of serious, earnest inquiries and repeat-visiting customers we saw during the event.”

The boat show, which drew Grand Banks dealers from all over Asia, including representatives from Japan, Hong Kong, Malaysia and Australia, further emphasized the growing importance Asia is having in Grand Banks’ sales, Hensel said.

“With the relative strength of the financial markets across Asia, and the growing high concentration of very affluent consumers here in Singapore and in emerging markets like China, APAC is an increasingly important region for us,” Hensel said. “The key driver lately is the growing interest and passion for boating among those consumers here.”

Grand Banks has always had a strong hold in Asia because of its roots in Singapore. But although there has always been wealth there, interest in recreational boating in Singapore has shown growth only recently, Hensel said.

— Reagan Haynes (Soundings Trade Only)