PALM BEACH, Florida, December 7, 2016 /PRNewswire/ --
New marina development and redevelopment multi-million dollar projects not only are offering modern boaters better alternatives, but also prove to be worth the venture by providing million dollar revenue generating opportunities as well as boosting local economies with the creation of new jobs. Marine management and development companies in focus in the markets include: Aegean Marine Petroleum Network Inc. (NYSE: ANW), Kali, Inc. (OTC: KALY), MarineMax, Inc. (NYSE: HZO), Brunswick Corporation (NYSE: BC) and Orion Group Holdings, Inc. (NYSE: ORN).
Kali, Inc. (OTC: KALY) today announced a contract with Harbormaster Development to manage the development of a new Caribbean marina. The project is currently slated for a specific property in Puerto Rico. Harbormaster Development has contracted Kali to manage an estimated $10 million development project and to subsequently manage the ongoing marina operation. The contract guarantees a $1 million management fee to Kali for the development phase of the project with various performance incentives that could lead to more revenue. The overall term of the contract is five years with the services agreement transitioning from project management to operational management at the end of the development phase. The agreement between Harbormaster and Kali includes an equity participation option for Kali. The development phase of the project is anticipated to start in 2017 and continue into 2018. Read this and more news for Kali at: http://marketnewsupdates.com/news/kaly.html
KALY's $56 Billion Market Opportunity - Earlier this year, Kali announced its entry into the $5 billion fragmented and underserved marina management market sector with the acquisition of Wave Marine & Yacht Services as the first acquisition in a comprehensive roll-up strategy. Since Kali's initial entry into the marina management sector, the Company has subsequently announced expanding into additional market sectors complimentary to marina management. Between the marina management sector and the complimentary sectors, Kali's total market sector opportunity encompasses over $56 billion. SEE KALY's STRATEGIC OVERVIEW AND MARKET EXPANSION UPDATES at https://www.marina-rollup.com/
In other sector comparable news and developments in the markets:
MarineMax, Inc. (NYSE: HZO) closed up slightly on Tuesday at $20.55 on just over 220,000 shares traded by the market close. MarineMax, Inc. operates as a recreational boat retailer in the United States. It sells new and used recreational boats, including pleasure boats, such as sport boats, sport cruisers, sport yachts, and yachts; fishing boats; convertible yachts; motor yachts; jet boats; and ski boats.
Aegean Marine Petroleum Network Inc. (NYSE: ANW) closed up slightly on Tuesday at $11.80 on just over 320,000 shares traded by the market close. Aegean Marine Petroleum Network, Inc., together with its subsidiaries, operates as a marine fuel logistics company that markets and supplies refined marine fuel and lubricants to vessels in port, at sea, and on rivers worldwide.
Brunswick Corporation (NYSE: BC) announced in Mid November it has acquired the assets of Payne`s Marine Group of Victoria, British Columbia, a leading wholesale distributor of marine parts and accessories (P&A) in Canada. Terms of the transaction were not disclosed. Payne`s had sales of approximately USD$17 million in 2015. Payne`s marine distribution business will become part of Brunswick`s global P&A distribution business, which is operated by Brunswick`s Mercury Marine division, based in Fond du Lac, Wis.
Orion Group Holdings, Inc. (NYSE: ORN) a leading specialty construction company, announced at the end of November a contract award of approximately $22 million. The Company's Heavy Civil Marine Construction segment, Orion Marine Group, was recently awarded a contract for a reconstruction project from the City of Savannah, Georgia. The project entails improvements to storm water drainage facilities for the Bilbo Canal and will begin during the first quarter of 2017 with a duration of approximately 24 months. HL. The company expects to complete its BLA submission by the end of the first quarter of 2017.
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