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AnniversaryGrand Banks celebrates 70 years of yacht building

Martin Hager

 · 30.03.2026

It all began at the American Marine Shipyard in Hong Kong in 1956.
Photo: Grand Banks.
Grand Banks celebrates seven decades of boatbuilding history. The launch at the Palm Beach show will be followed by a seven-month series of owner events, retrospectives and editorial features, from its beginnings in Hong Kong harbour in 1956 to its current position as the self-proclaimed market leader in seagoing trawler yachts.
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"Anyone who knows me well knows that I don't spend a lot of time looking in the rear-view mirror," said Mark Richards, CEO and chief designer of Grand Banks since 2014, "but at such a milestone, it's worth pausing to recognise the pioneers, craftsmen, designers and owners who have created something so special." Founded as American Marine Ltd, the company began building solid boats in 1956. In 1964, the trawler series was launched with the Grand Banks 36, followed by the Alaskan line with a raised wheelhouse in 1968 and the first Eastbay in 1993. Today, the US brand's portfolio comprises 16 models. The new Grand Banks 70 opens the latest chapter.

Milestones in the company's history

The shipyard began in 1956 as a shipbuilding company focussing on robust, seaworthy boats. The breakthrough came in 1964 with the Grand Banks 36, which practically redefined the trawler yacht category and influenced generations of long-distance motor yachts. This was followed in 1968 by the Alaskan series with a raised wheelhouse, which set new standards. The transition from wood to fibreglass construction marked another turning point in the company's history. In 1993, the Eastbay line established the modern trawler design as a category in its own right. Mark Richards took the helm in 2014 and initiated a strategic reorientation. The former world sailing champion and boat builder contributed his experience to the development. Today, the shipyard organises regular owners' meetings and events.

V-WARP Technology as core technology

In 2017, Grand Banks presented the Grand Banks 60 and introduced V-WARP Technology at the same time. This design and construction philosophy combines efficiency, performance and range. According to the manufacturer, the technology enables long-distance cruising at higher speeds with up to 65 per cent better fuel efficiency than comparable yachts. Richards explains: "Grand Banks was never a company that stood still. From the outset, the founders were prepared to rethink what was possible. Our founders utilised new ideas, new materials and better construction methods. This mindset guides everything we do today." The current product range comprises 16 models, all based on this technology.

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View of the Grand Banks 70

To coincide with the anniversary, the Malaysian shipyard based in Pasir Gudang is developing the Grand Banks 70 as a new flagship. The model is currently in the development phase and is intended to combine the brand's proven efficiency and performance with refined design elements. The manufacturer promises extended customisation options for owners and capabilities geared towards future requirements in long-distance cruising. The Grand Banks 70 will round off the top end of the model range and expand the portfolio to 17 models.

Martin Hager

Martin Hager

Editor in Chief YACHT

Martin Hager is editor-in-chief of the titles YACHT and BOOTE EXCLUSIV and has been working for Delius Klasing Verlag for 20 years. He was born in Heidelberg in 1978 and started sailing at the age of six, in an Opti of course. This was soon followed by 420s, Sprinta Sport and 470s, which he also sailed on the regatta course with his brother. His parents regularly took him on charter trips through the Greek and Balearic Islands. Even at a young age, it was clear to him that he wanted to turn his passion for water sports into a career. After graduating from high school and completing an internship at the Rathje boatbuilding company in Kiel, it was clear that he did not want to become a classic boatbuilder. Instead, he successfully studied shipbuilding and marine engineering in the Schleswig-Holstein state capital and focused on yacht design wherever he could. His diploma thesis dealt with the “Testing of a new speed prediction method for sailing yachts”. In 2004, the superyacht magazine BOOTE EXCLUSIV was looking for an editor with technical and nautical background knowledge, a position that was perfect for Martin Hager. The application was successful and a two-year traineeship was arranged. After twelve years as an editor, the editorial team changed and he took over responsibility for BOOTE EXCLUSIV as editor-in-chief in 2017. After long-time YACHT editor-in-chief Jochen Rieker moved to the role of publisher, Martin Hager also took over the position of editor-in-chief of Europe's largest sailing magazine YACHT, which is celebrating its 120th anniversary this year, at the beginning of 2023. When he's not working on topics for the two water sports titles, Martin Hager likes to go out on the water himself - preferably with kite and wingfoil equipment or on a little after-work trip across the Alster.

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