Canadian Manufacturing

BCI Marine says boating industry feeling the impact of war in Ukraine

Patrick Hardy said he hopes that Transport Canada and the government of Canada will reach out to companies that will suffer repercussions because of this war.

March 24, 2022   by CM Staff

BCI MARINE confirms: the impact of the war in Ukraine is already being felt on the boating industry. (CNW Group/BCI Marine)

MONTREAL — Russia’s attack on Ukraine is beginning to make ripples in the boating industry.

BCI Marine says for several weeks now, the ongoing attacks on the Eastern European country have had negative consequences for the yachting industry.

“Some boat manufacturers, mainly for tires, do business with Ukrainian factories,” explained Patrick Hardy, president and founder of BCI Marine in a statement.

“There is even a company based in Kharkiv, Brig, whose factory was bombed in the last few days. Consequently, we expect a scarcity in the market this summer. Future buyers will therefore have to be patient and understanding,” stated Hardy, adding that buyers can expect a price increase.

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The company’s president also said that in addition to the high cost of parts, the conflict has caused transportation costs to go up significantly. As an example, Hardy shared that a Poland to Vancouver delivery that once cost him $12,000 would now cost more than twice that amount.

Hardy also said that the war is forcing talent in the boating industry to leave Ukraine, and supply chain disruptions affecting Canada have pushed some companies out of the country seeking opportunities in other continents. Hardy mentioned that one such company is Aquaspirit, a boating manufacturer that reportedly announced plans to leave Canada for an EU territory “in order to benefit from greater political and social stability,” the statement reads.

Patrick Hardy said he hopes that Transport Canada and the government of Canada will reach out to companies that will suffer repercussions because of this war.