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FEATURED INDUSTRY NEWSMore Than 25,000 Boating Enthusiasts Turn Out For The Minneapolis Boat ShowThe 2024 Discover Boating Minneapolis Boat Show, in partnership with Progressive Insurance, reports strong crowds during its 4-day run, attracting more than 25,000 attendees. Overall, feedback from exhibitors has been positive, with several reporting solid sales and leads from the show, particularly among entry-level buyers. Read More ABYC Sets Date For Marine Service Technician WeekThe American Boat & Yacht Council (ABYC) announced the 3rd annual “International Marine Service Technician Week,” scheduled for April 22-26, 2024. The week is dedicated to recognizing the exceptional skills and commitment of marine service professionals. Read More LEADING ECONOMIC AND POLICY NEWSShipping Costs Have Soared Due To Houthi AttacksThe New York Times reports that the Houthi attacks “at a choke point that handles 12 percent of global trade, including nearly one-third of the world’s container ship traffic...have already forced some shutdowns at European auto plants and raised fears of a surge in consumer prices.” The Times adds, “For shipping companies, costs have already increased. A composite measure of global shipping costs, the Drewry World Container Index, has more than doubled since late last year. The rise is partly tied to a shortage of empty shipping containers, caused by the up to two weeks of additional time for trips going around Africa’s Cape of Good Hope.” In addition, according to the Times, “Marine war risk premiums have soared around fiftyfold since before the war, to as high as 1 percent of the value of the ship.” Also reporting is Bloomberg. Economists Expect Economy To Have Grown At Two Percent Rate In Fourth QuarterThe Wall Street Journal reports that according to a survey of economists, the US economy grew at an annualized rate of 2 percent in the fourth quarter, down from the 4.9 percent rate of the third quarter. Consumer spending is viewed as driving growth. The Commerce Department will release its report on Thursday morning. S&P 500 Hits Another Record HighCNBC reports that the S&P 500 “rose Wednesday as Netflix led a broader rally among technology names, pushing the broader market to new heights. The benchmark S&P 500 eked out a gain of 0.08% to 4,868.55, clinching a new all-time closing record.” The Nasdaq Composite “rose 0.36% to 15,481.92, helped by the tech rally. It marked the fifth straight day of wins for both.” The Dow Jones Industrial Average “slipped 99.06 points, or 0.26%, to 37,806.39.” Previous Top Stories | |||||||||||
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If you are unable to see the message or images below, click here to view Shows Certification Advocacy Statistics International Membership Customized Briefing for manoj dole May 10, 2024 FEATURED INDUSTRY NEWS Congresswoman Mary Peltola (D-AK) Named Legislator of the Year by National Marine Manufacturers Congresswoman Mary Peltola (D-AK) has been awarded the Legislator of the Year Award by the National Marine Manufacturers Association (NMMA) for her support of the recreational boating and fishing industry. The award recognizes Congresswoman Peltola’s leadership in advocating for policies that support the boating industry, protect marine ecosystems, and advance conservation efforts for all who rely on the oceans. Specifically, the Congresswoman has proactively worked to support the recreational boating and fishing industry thro...
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