Grand Banks Yachts, From Teak Trawler Icon to V-Warp Cruiser

The builder that defined the American idea of a trawler yacht, now reinvented with fast, light long-range cruisers.

Headquarters
Singapore, with production in Pasir Gudang, Malaysia
Models reviewed
5

Grand Banks Yachts models

Grand Banks built the classic teak-trimmed trawler that a generation of US cruisers dreamed about, from the little GB32 to the 49 Classic, then reinvented itself under Mark Richards with lighter, faster V-Warp hulls such as the GB60, built in Malaysia.

Known for
  • The Grand Banks 32, 36 and 42 Classic trawlers
  • Heavy teak joinery and traditional trawler styling
  • V-Warp hull technology on the modern GB range
  • Eastbay and Downeaster-style express models
  • Strong owner community and brokerage demand

Two different companies under one famous name

Grand Banks started as American Marine, a Hong Kong yard founded in 1956 by Robert J. Newton and his sons that built wooden yachts for American buyers and then created the Grand Banks trawler series in the 1960s. Designer Ken Smith drew the early boats, and the 36 that went into production in 1965 became the template for the recreational trawler: a semi-displacement hull, a single or twin diesel, a covered side deck and lots of teak. Fiberglass replaced wood in the 1970s and production moved to Pasir Gudang in Malaysia in 1995, where Grand Banks still builds today.

The second Grand Banks story began when Australian ocean racer Mark Richards, best known as the skipper of the supermaxi Wild Oats XI, took control and became CEO and chief designer. He brought the Palm Beach Motor Yachts approach to the brand: resin-infused, carbon-reinforced hulls with a warped-plane bottom marketed as V-Warp, designed to run efficiently at both slow and fast speeds. The modern range, from the GB54 to the GB85 plus the Eastbay EB44 and EB60, has little in common with the old trawlers beyond the name and the build quality.

The classic family, GB32, 36 Sedan, 42 Classic and 49 Classic

Four of the five models we cover belong to the teak era, and they form a clear size ladder. The Grand Banks 32 is the smallest classic, a single-cabin boat with one Ford Lehman diesel that cruises around 8 knots on very little fuel. American Marine delivered 861 of them before the last one splashed in 1996, and it remains one of the most sensible small trawlers for a couple.

The Grand Banks 36 Sedan is a version of the GB36, the hull that launched the brand. Across Classic, Sedan, Europa and Motor Yacht variants, 1,141 were built between 1965 and 2003. The Sedan drops the aft cabin of the Classic in favor of a single-level saloon that opens to the cockpit, which suits owners who entertain more than they sleep guests.

The Grand Banks 42 Classic is the most famous model the company ever built and one of the most traded used trawlers in North America. More than 1,500 left the yard between 1966 and 2004 in Classic, Europa and Motor Yacht forms, and it is still a Great Loop favorite. The Grand Banks 49 Classic, built from 1980 to 1997 in a run of about 125 boats, adds a larger saloon, more tankage, twin diesels and a three-stateroom option for liveaboards.

  • Grand Banks 32, single cabin, single diesel, built until 1996
  • Grand Banks 36 Sedan, one-level saloon on the GB36 hull, 1965 to 2003
  • Grand Banks 42 Classic, the benchmark trawler, 1966 to 2004
  • Grand Banks 49 Classic, the liveaboard sister, 1980 to 1997

The GB60 and the V-Warp era

The Grand Banks 60 is a different animal. Launched in 2017, it is light, fast for a long-range cruiser and built with modern composites, aimed at buyers who want to cover ground at 20 knots or more and still cruise economically at 9 to 10 knots. It comes in Flybridge and Skylounge versions with Volvo shaft or IPS power. For a former 42 Classic owner it is a big step in price as well as size, but it shows where the company is headed: the current range is built around V-Warp hulls, and every classic model on this page is now a brokerage boat.

Buying a used Grand Banks, especially an older Classic

Grand Banks resale has always been strong because the boats are well built and widely known, and a dedicated owner community keeps parts and know-how in circulation. A GB32 or 36 Sedan is the cheapest way into the brand, while the 42 Classic offers the widest choice of boats and prices. Older Classics are affordable to buy but can be expensive to bring back to top condition. Service is available through Grand Banks locations and independent yards across the US East Coast, Great Lakes and Pacific Northwest.

On a classic Grand Banks the survey matters more than the asking price.

  • Teak decks, screw holes and the deck core beneath, a classic source of leaks and rot
  • Original black iron fuel tanks on older boats, which corrode and are costly to replace
  • Window frames and the cabin side where they leak
  • Engine hours and condition on older Ford Lehman or Caterpillar diesels
  • Wooden masts, swim platforms and exterior trim
  • On V-Warp models, warranty history and composite repair records

Grand Banks Yachts history

  1. 1956Robert J. Newton and his sons found American Marine in Hong Kong.
  2. 1965The first production Grand Banks 36 is built.
  3. 1966The Grand Banks 42 is introduced in wood.
  4. 1970sGrand Banks moves from wood to fiberglass hulls.
  5. 1980The 49 Classic joins the range.
  6. 1995Production moves to Pasir Gudang, Malaysia.
  7. 1996The last Grand Banks 32 is built after 861 hulls.
  8. 2004The 42 Classic ends production, a year after the GB36.
  9. 2017The V-Warp Grand Banks 60 launches under Mark Richards.
  10. 2020sThe range spans the GB54 to GB85 plus Eastbay EB44 and EB60 models.

Frequently asked questions

Where are Grand Banks yachts built?

Modern Grand Banks yachts are built at the company's yard in Pasir Gudang, Malaysia. The original wooden boats were built in Hong Kong.

Is an old Grand Banks a good first trawler?

It can be, if the survey is thorough. Classics are forgiving and well supported, but teak decks, fuel tanks and window leaks can make cheap boats expensive.

What is the smallest Grand Banks trawler?

The Grand Banks 32 is the smallest classic model, with 861 built until 1996. The 36 Sedan is the next size up.

What is V-Warp on a Grand Banks?

V-Warp is the company's design and construction approach for modern hulls, combining a warped-plane bottom with light infused composites for efficiency at both low and high speeds.

Do Grand Banks yachts hold their value?

Yes. Well-kept Grand Banks trawlers have long been among the best-holding values in the trawler market.

Official website: grandbanks.com. Yatch US is independent and not affiliated with Grand Banks Yachts.