Boom time for marine industries

By IRENE CHAPPLE

The marine industry is riding the wave of excitement created by the coming America's Cup with an increase in export sales of more than 30 per cent.

Figures collated by the New Zealand Marine Export Group (Marex) show $93 million growth in the 2000-01 year to a total of $365 million.

But the money-flashing superyacht industry was outclassed by Canterbury waterjet manufacturer HamiltonJet, which was New Zealand's top marine earner with $38 million in export sales, an increase of about $8 million on the previous year.

The company said demand had increased for high-speed commuter ferries, particularly since the September 11 attacks.

HamiltonJet sold about half of its products to the United States. Other big markets were Venezuela and France.

Spokesman Tony Kean said it had been "a very good year", with New Zealand's reputation and an attractive foreign exchange rate beefing up the industry's earning.

Marex executive director Lane Finley said growth was partly due to the reputation the marine industry had won through the America's Cup, aided by Trade New Zealand's marketing programmes.