It is the middle of peak summer boating season, so it’s not surprising that there is plenty of boating news being reported across all types of boats, yachts and personal watercraft. For those in the market to buy, staying across boating news especially what’s happening with marine finance interest rates may assist with buying decisions.
In this news issue, we cover some of the interesting events coming up, some announcements re marinas facilities and provide an update on marine finance interest rates. The rates update could be critical with just weeks until the first Reserve Bank of Australia rate decision meeting for 2023.
A new event has been added to the boating calendar – the Sydney Superyacht Festival. The event will be held over the weekend of 17-19 March and includes a range of activities for those interested in the ultimate in luxury lifestyle boating.
Activities include a parade of luxury boats that start at 50’ and range up to those aspirational superyachts. The event will showcase the ultimate in the boating lifestyle and those interested in being a part of it can either watch or buy tickets to individual events with details at the event website.
Jetski Safety Blitz
In early January, NSW Maritime launched a state-wide blitz on safety in the operation of jet skis and PWCs. The blitz covered waterways from the northern to the southern border and from the coast into the western regions of the state. The messaging around Operation Ride Smart campaign was clear – driving critical safety information home to riders and passengers.
Compliance checks as well as lifejacket wearing, rego and licence checks and operational aspects were covered. It is a timely reminder to anyone considering purchasing a jet ski to ensure the vessel is equipped with the right life jackets.
When purchasing a jet ski with finance, the cost of extras such as safety equipment may be able to be included in the loan. Making it easier to be safe and afford both fines and possible accidents.
Australian Wooden Boat Festival
After an absence due to COVID over the past few years, the very popular Australian Wooden Boat Festival returns this February. This event is held the Hobart waterfront in Tasmania over the weekend of 10-13 February and 2023 sees the return of the more extensive schedule of activities.
Activities and attractions include the tall ships, wooden vessels to admire at the marina, shipwright courses, on water parade of sail, workshops, symposium, theatre, films, a marketplace and plenty more. For enthusiasts of classic wooden boats, this is a must attend event.
For those interested in purchasing a wooden boat, speak with us about the loan options and compare marine finance interest rates.
Sail Melbourne Wraps Up
The massive sail event, Sail Melbourne, has wrapped for another year and was again a huge success. Typical Melbourne, the weather dished up everything for the sailors to contend with – extreme heat through to pouring rain.
The competition was impressive as big names including Australian Olympic sailors took part in the regatta which covers many sailing classes. To see who won in which class, check the full results.
Platinum Status for Coral Sea Marina
Marinas are an important consideration in the boat buying process. Decisions around trailer boat or not, where to moor or store the boat can be significant influencing factors on which particular type of boat to purchase. For those buying a cruiser, the facilities available at marinas are important consideration.
The Marina Industries Association awards accreditation to its members which may be of great interest to cruiser purchasers. Most recently the Coral Sea Marina Resort has been awarded the Associations 5 Gold Anchor Platinum level of accreditation.
Located in the idyllic Whitsundays at Airlie Beach, the marine has 520 berths plus hospitality, retail and other tenants. A resort hotel also forms part of the complex for those that wish to stay ashore and use their vessel during the day.
New Maintenance Facility
Still on marinas but now in Sydney, the highly respected d’Albora Marinas group has recently opened a new maintenance facility at its marina at The Spit, Mosman. The new facility has been built as a full-service option and includes a haul-out facility for vessels up to 70 feet. Enabling owners to have maintenance services conducted easily on-site.
This provides a true full-service, berthing and maintenance operation for customers. Similar services are available at a number of the company’s other marinas.
Marine Finance Interest Rates
After almost a year of rate rises following a year of historic low rates, many boat buyers may be wondering what 2023 will hold for marine finance interest rates. The first meeting of the RBA Board to make a decision is on 6 February. The November inflation data showed another uptick which may be reason for the Board to announce another uptick in rates.
The critical data to watch however, will be released this week. The ABS will release the December Quarter CPI data on 25 January and this could be key to the RBA February decision.
Boat Show Alert: The Robe Boat, Fishing and Leisure Show is on 18-19 February. Time to get approved for a boat loan so you’re ready to buy at the show.
Contact Jade Boat Loans on 1300 000 003 to discuss cheaper marine finance interest rates.
DISCLAIMER: THE INFORMATION AND SPECIFIC DETAILS CONTAINED IN THE CONTENT OF THIS ARTICLE HAVE BEEN PREPARED AND ARE PRESENTED PURELY AS GENERAL INFORMATION AND NOT INTENDED AS THE ONLY SOURCE OF FINANCIAL ADVICE FOR BOAT BUYERS AND LOAN BORROWERS. FOR THOSE THAT CONSIDER THEY REQUIRE SPECIFIC ADVICE, THEY SHOULD CONSULT WITH A FINANCIAL ADVISOR. LIABILITY IS NOT ACCEPTED IN REGARD TO ERRORS AND MISPRESENTED DATA AND DETAILS HEREIN.