Once a primary use of composite materials, the marine industry has since been hit hard by the economic downturn. What the President describes, is exactly what boat builders are experiencing right now. Boats are no doubt a luxury good, and right now, people are not buying luxury goods.
With this being said, European luxury yacht builder Emocean just announced plans for a 200m super yacht as seen above. They still need someone to buy the $500-$900 million dollar yacht before they will start building. This thing is a serious haus. 100ft pool, room for two 98ft "day boats", helipad, nightclub, and casino. Yet it will still maintain 28 knots, which is pretty good for a boat that size.
Photo Credit: Emocean
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