Cape boat-builders ride their global edge A CAPE Town warehouse holds SA's hopes for power on the seas: a $1,5m Stealth catamaran, the latest offering from a burgeoning boat-building industry. Dubbed the Flying Gurnard, the Stealth 540, sold before tasting salt water, is a hydrofoil-assisted catamaran which its makers say offers greater speed and fuel efficiency than other power boats. Almost touching the warehouse ceiling at two storeys high from hull to bridge, the gleaming white and stainless steel vessel offers owners the ultimate in luxury, from a king-size bed and plasma television to integrated electronic navigation. It is among the first power boats in the world to be fitted with "Q-speed" - a propulsion system which allows the propeller to be half submerged and half in the air when powering the vessel. http://www.stealthyachts.com/ The state-of-the-art catamaran is the epitome of what a fledgling boat building industry, haltingly started in the 1960s, has achieved in Western Cape. "It's a new style of boat and this is the first one of its kind in the world and a great vote of confidence," says Bruce Tedder of the South African Boat Builders' Business Council. It is one of a record 290 luxury boats expected to be launched from SA this year, with boat builders averaging four yachts a year compared with one a year 12 years ago. Competing against traditional boat building nations such as England, Australia, the US and France - which dominates cata-maran building - SA has an established presence in five markets: sailing catamarans, power catamarans, large mono-hulled yachts, inflatable boats and ocean-going kayaks. A few years ago SA held only 0,5% of the sailing catamaran market. Today it accounts for 30% of global sales, says International Boating Industry magazine. The Flying Gurnard, named after a type of fish, was sold off the drawing board to a US client. "We are attacking the powerboat market but with a completely unique craft, where we are not looking to sell 500 a year. Six of them a year at a million dollars each would be fantastic," says Tedder. Robertson and Caine, the second largest catamaran builder in the world, based in Salt River, is scheduled to launch more than 80 boats this year and hopes to raise this to 220 boats in 2011. Prices for power catamarans and monster mono (single) hulls range from $350000 to $8m, with an average price of $450000. But it has not been all smooth sailing. Volatility in SA's rand has upended some boat-builders, with at least six going out of business in recent years. "Companies were making really good profits when the rand was weak but now they're not making so much. "The more casual operators went bankrupt. In the past two years, we've had six yards closed down because they probably couldn't adapt and streamline the work," says Tedder. For the complete story, go http://www.businessday.co.za/articles/topstories.aspx?ID=BD4A339818