Kees at Mets, almost like walking the show

Ben Ellison

Ben Ellison

Panbo editor, publisher & chief bottlewasher from 4/2005 until 8/2018, and now pleased to have Ben Stein as a very able publisher, webmaster, and editing colleague. Please don't regard him as an "expert"; he's getting quite old and thinks that "fadiddling fumble-putz" is a more accurate description.

15 Responses

  1. Adam says:

    Nice work, Kees; wonderful summary. Echopilot’s 3D sonar looks exceptionally sweet and seems a generation beyond FarSounder. Did they talk price at all?

  2. Sandy Daugherty says:

    BrAVO, Kees! Better than being there (considering the consequences of a 6 hr flight) and succinct!
    What did the transducers for the Echo look like?

  3. Russ says:

    Thank you!

  4. Kees says:

    I’ve asked Echopilot to comment here as I don’t know about their prices and haven’t seen the actual transducers.

  5. Chris says:

    The price should be about �5000 for the whole system (which excludes the display).
    The transducers (it needs two, one on each side of the boat)protrude about 1.5″ from the hull and are just under 2.5″ in diameter.
    Hope this answers your questions.
    Chris from the EchoPilot team.

  6. Dan Corcoran (b393capt) says:

    Very Well Done Kees !

  7. kev says:

    youve got a heading there for NMEA 2000 sensors, not sure if you noticed on the garmin stand there were some cool analogue to NMEA converters for rudder angle sensors and trim etc.

  8. Ben Ellison Ben Ellison says:

    Thanks, Kev! Garmin seems to be releasing that little product with zero fanfare. But apparently it’s going to ship soon, or already is:
    What’s not clear to me is if it can just be calibrated for rudder sensors. I assume the calibration happens on a GMI10, though they could also include it in the MFDs.

  9. norse says:

    The Autonnic vector wind sensor is a cool idea, nice and simple, at least without compensating for movement and accelerations.

  10. SanderO says:

    I read on another forum about problems with Raymarine… Are they about to go belly up? Their stock is tanking.
    Ben do you have any insider information?

  11. Ben Ellison Ben Ellison says:

    No, I don’t, SanderO, and believe it would be a crime if I did. I continue to think that largely what we’re seeing is tough British stock market rules at work, plus the good old rumor mill. I’d be quite surprised if Raymarine products stopped being offered and serviced.
    I will write more about this soon. Which forum were you reading?

  12. John says:

    As for Raymarine I’d say they’re just waiting to topple over! There’s no need to listen to the rumour mill. Just go straight to the London Stock Exchange and read Raymarine’s interim management report from last week:
    Taken straight from statement:
    Raymarine plc, a global leader in the supply of electronic products to the leisure marine market, today issues its second Interim Management Statement for 2009 as required by the UK Listing Authority’s Disclosure and Transparency Rules. This statement is in respect of the period 1 July 2009 to 18 November 2009.
    There has been some reduction in the rate of sales decline on the prior year, with sales for the 4 months from 1 July 2009 to 30 October 2009 totalling �25.4m, a decline on a like for like basis, removing the incremental sales contribution from acquired distributors and foreign exchange movements, of 26.4% with the US and the Rest of the World showing like for like declines of 25.2% and 26.9% respectively.
    For the 10 months to 30 October 2009 the Group’s sales totalled �88.9m (2008: �115.3m), an absolute decline of 22.9%. On a like for like basis this represented a decline of 32.3% on the prior year with the US down 46.2% and the Rest of World sales down by 24.3%.
    By way of context, for the half year to 30 June 2009, the Group reported sales totalling �63.5m (2008: �83.6m). On a like for like basis this represented a decline of 34.6% with the US sales down by 53.0% and the Rest of World sales down by 23.3%.
    The outlook for the Group’s markets continues to be uncertain and is expected to remain so throughout the remainder of the current year and during 2010.
    Raymarine continues to invest in new products and launched its ST70 range of instruments and pilot systems and AIS 500 Plus in July and is launching an all-new widescreen E Series with hybrid touch, at autumn shows in Europe and North America.
    The Group has reached agreement with its manufacturing partner on pricing for the anticipated volumes going forward. However, gross margin continues to be under pressure from market conditions and inventory provisioning.
    The Group has incurred during the second half of the year significant exceptional costs in relation to professional and bank fees considerably in excess of those envisaged at the half year stage. These have been caused by the continuing exploration of the long term refinancing options for the Group. At 30 October 2009 the Group’s net debt was �91.6m. The Group’s existing banking facilities mature on 31 March 2010. Raymarine is currently unable to comply with certain financial covenants within these facilities and, as such, is reliant on continuing covenant waivers from its banking syndicate. The current waivers expire on 4 December 2009.
    To meet the Group’s funding requirements in the coming months an additional facility has been agreed with the Group’s banking syndicate for �15m. This additional facility also matures on 31 March 2010 and its availability is similarly subject to the continued covenant waivers referred to above.
    Long term refinancing options continue to be investigated, together with discussions with interested parties in relation to a potential sale of the business or equity fundraising. In light of these discussions the Board considers it increasingly likely that little, if any value for ordinary shareholders will be realised.
    – ENDS –

  13. John says:

    Ben, more about Raymarine on the IBI website:
    Raymarine’s troubles continue
    By IBI Magazine
    Raymarine’s troubles don’t appear to be easing. In the wake of its latest trading statement, shares fell to an all-time low of 7.5p on Friday after the company admitted it was unable to meet its debt covenants.
    Stockbroker Panmure Gordon also stopped research coverage of the stock. “Due to the company’s uncertain future and the failure of a trade buyer to emerge during the summer, we have decided to cease research coverage in this stock,” says Panmure.
    Yesterday Raymarine told the market that it could not meet certain financial covenants and it reported a 23 per cent drop in sales in the first 10 months of 2009. Other brokers have Raymarine as a ‘sell’ stock. “There is unlikely to be much left in the way of value for shareholders, even if the company does get taken over,” says Seymour Pierce. Earlier this year Raymarine was talking with Garmin as a possible buyer but no deal came of it.
    Raymarine developed a strong leadership in manufacturing and supplying navigation systems, which was fine while the market was strong. The downturn and the company’s heavy indebtedness of some �91.6m at the end of October have seen its fortunes reversed. It is now in desperate need of a buyer and without one it may well face collapse.
    (20 November 2009)

  14. Ben Ellison Ben Ellison says:

    John, hope you saw that I responded to your thoughts at the end of the new Raymarine entry:

  15. Clean says:

    For a more sailboat oriented view of METS including about two dozen video interviews, check out my report:
    Not a lot of electronics, but the interview with Formula One’s Cosworth on their new data logging solutions is pretty cool.

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