TOM TRIPPThe American Global Yacht Group at the 2008 Newport Show

The news about suffering boatbuilders is pervasive. Every week the trade publications are full of news about more layoffs and production shutdowns throughout the industry. But a closer look, and a chat with some people here at Newport reveal the tide isn't falling under all boats. In fact, some builders are doing extremely well. American Global Yacht Group, the parent company of the Moloka'i Straits and Outer Reef Yachts expedition and trawler brands, just experienced its best quarter ever in the company's history.

AGYG's boats are in their seventh year but already 44 hulls have been delivered. The Moloka'i Straits yachts are big, steel-hulled expedition cruisers and the Outer Reef yachts are semi-displacement fiberglass boats that compete successfully in the niche between full displacement trawlers and full planing boats. One of AGYG's partners, Jeff Druek, told me last night that his key to success is understanding who the customer is and delivering constantly improving products. Recent sales of two 2-year-old yachts from the group resulted in $400,000 profits for the two owners, such is the success of this niche.

One of AGYG's newest boats, the Outer Reef 63 is making its debut here and I spent quite a bit of time aboard yesterday. I'll have a more detailed report soon on the boat soon here on Mad Mariner, but I'll also get some photos up of the boat, and its stunning teak interior, later today.