Boat industry players gathering at the Helsinki Boat-Afloat Show show are already seeing signs of demand recovery

The largest floating boat show in the Nordic countries, Uiva Flytande, will open on Thursday, August 15, at the HSK club harbor in Lauttasaari and will continue until Sunday evening, August 18.

Numerically, the most common type of boat on Uiva’s docks is the Finnish favorite, the 5-7 meter long outboard motorboat. There is also a very extensive selection of various small boats, dinghies, rowboats, and rigid inflatable boats, as well as several small electric boats.

This year, the largest motor yachts at the exhibition are in the 14-15 meter size class. The showcased models include for example Galeon 470 Sky, Prestige F4.9, Nord Star 49+, and Targa 41. The new Beneteau Oceanis 46.1, X4.9, Hanse 460 and Lagoon 46 are the big sailing yachts at the show. 

The exhibition's new highlights include two very different aluminum-hulled boats: the Yamarin Cross 55 BR, a bowrider fitting into the popular Finnish 5-meter-plus size class, and the foiling cabin boat Arrofoil 25 Cabin.

Every day, visitors can also test boats on the water. In addition to motorboats, Yamaha jet skis will be available for testing, and instructors from the Sailing Teachers Association PORY will take those interested in sailing out on the water every day. Visitors can also arrange test drives of other exhibition boats with the exhibitors outside exhibition hours. Juniors will have the opportunity to test Optimist dinghies under the guidance of HSK trainers.

A wide range of programs for boating enthusiasts

Those interested in competitive sailing can immerse themselves in adventures through the stories and experiences of Finnish sailors. Present will be Ari Känsäkoski, who had to withdraw from the Global Solo Challenge, along with his Class40 "Fuji" boat, Jussi Paavoseppä, who participated in the Ocean Globe Race with the Swan 651 "Spirit of Helsinki," and the Arto Linnervuo's 16-meter Infiniti 52 R "Tulikettu," built for international offshore racing.

The Finnish Ocean Sailors Association will bring three different types of sailboats used for long-distance ocean sailing to the Uiva show. These include Ilkka Liukkonen, who has sailed twice around the world, around Fennoscandia, and twice to Svalbard with his Malö 43 boat, and Hannu Aulin, who has sailed to Patagonia, Greenland, and Svalbard with his Stormwind 40 boat.

The smallest of the boats is adventure sailor Kari "Ruffe" Nurmi’s nine-meter, 35-year-old Bavaria 300. Ruffe has crossed the Atlantic with his boat, sailed to Greenland and Svalbard, and conducted a 2,700 nautical mile (about 5,000 km) continuous cruise in the Baltic Sea while collecting microplastic samples.

"At Uiva, you can get to know the boats and skippers, talk about longer sailing trips, and see what ocean-going boats are like, what equipment they have, and what solutions have been made in the boats," says Ruffe Nurmi.

The future of boating and future boating trends will be more broadly discussed on Thursday in the panel for the 125th anniversary of the sailing club Helsingfors Segelklubb HSK. Environmental issues that concern boaters are also likely to be raised, with the panel featuring the Minister of Climate and the Environment, Kai Mykkänen. Joining him on stage will be Kristian Raj, founder of the boat-sharing service Skipperi, and Jarkko Jämsén, a boat designer from Navia Design.

A hobby for all affected by inflation and high interest rates

"Boating is a hobby for everyone, so the weak purchasing power of ordinary consumers has been strongly felt in the boat industry. We suffer from the same combination of inflation and high interest rates that has affected, for example, the housing market," says Jarkko Pajusalo, CEO of the Finnish Marine Industries Federation Finnboat.

According to Pajusalo, the divided market is illustrated by the fact that 59 percent of Finnboat member companies reported that their turnover had remained unchanged or increased during the first half of the year, while 41 percent of companies reported a decrease in turnover. The general picture is that the international trade in expensive luxury boats manufactured in Finland is doing well, but the domestic market for the most common 5-7 meter open boats and small day-cruisers has suffered.

In addition to the domestic market, a challenge for Finnish boat manufacturers is the long-declining value of the Swedish Krona and Norwegian Krone, traditional key export markets. This has made imported boats more expensive in neighboring countries.

Sales of used and luxury boats have been brisk

Janne Korhonen, CEO of Vääksyn Konepiste, which sells motorboats and offers maintenance and winter storage services in Finnish Lakeland, also describes the domestic market as divided. According to Korhonen, boats under €30,000 and sport fishing boats are selling well. Sales of boats valued at over €100,000 have also remained steady.

"There’s a black hole in the market in the €30,000 to €60,000 price range, where boats are rarely bought with cash. However, the market for used boats has been good, even better than a year ago," Korhonen says.

"The domestic market is sluggish, but boats are still being sold across the board. The situation in Finland is manageable, but exports, especially to Norway, are much more challenging due to the weak crown. The weak crown is also a problem in Sweden, but demand there has already slightly picked up," says Mikael Winqvist, CEO of AMT Boats, which manufactures a wide range of outboard motorboats of various sizes in Kontiolahti, eastern Finland. .

As price levels approach luxury boats, the international market has remained favorable for Finnish manufacturers. Thomas Sarin, CEO of Sargo Oy Ab, which manufactures Sargo boats in Kokkola, western Finland, says sales of large boats are doing well. In addition to Europe, Sargos are exported to Japan and the United States. The order books for the flagship of the range, the nearly 15-meter Sargo 45, are full for the next couple of years, and the slightly smaller 36- and 33-foot models are also selling well.

"Sales of smaller boats are quieter both in Finland and abroad, but we are still fully employed at least until next summer," says Sarin.

Sales of large sailboats and accessories picked up this year

Antti Saarisalo from Ajola Yachts, which imports Beneteau sailboats, says demand for new sailboats completely stopped in the fall of 2023. This year, Ajola Yachts has already sold four new sailboats.

"There were crazy times in between, but now we have returned to the pre-corona normal: prices have stabilized, and people have adjusted to a reasonable level of interest rates, so there is confidence, and people can start making their own choices normally," Saarisalo reflects.

Ajola Yachts will showcase a Beneteau Oceanis 46.1 yacht, valued at around half a million euros and sold to a Finnish customer, at the Uiva boat show. Other new sailboats at Uiva in the same size and price range include the X4.9, Hanse 460, and Lagoon 46.

"It seems that the size of boats bought by new boat buyers has grown from the traditional Finnish 30-foot class to over 40 feet, which, with its separate shower facilities and walk-around beds, clearly offers a more luxurious boat class. For buyers of larger boats, the purchase is not a financial issue, but even ordinary working families buy 35-40 foot boats, although the investment is significant," Saarisalo says.

Mika Vanhala, CEO of Oy Esco Ab, which offers boat accessories and installation services, reports the same observation as Saarisalo: demand collapsed after the beginning of the summer in 2023. However, during the first half of 2024, turnover has started to rise again.

"Since February, we have slowly returned to the level that was but now we have returned to the pre-covid normal. Consumables purchased out of necessity have sold well. People are buying new batteries for their boats, repairing heaters, fixing electrics, and repairing broken items, but major upgrades are still being postponed," says Vanhala.