New trends in the shipbuilding industry
10.05.2016
Even so there was a tremendous decrease of the profit margins registered in the shipbuilding industry during the last couple of years, market experts predict a healthy recovery of about 3% to 5% per year, especially after 2017 - (source: Castrol Marine Trade Barometer).
The major development trends, according to the source, will be registered in the Asia-Pacific region, followed by Latin America and Middle East. All European countries (except for Netherlands) that were traditionally well known for their shipbuilding industry, will further register negative rates up till 2017.
It is assumed that Asia-Pacific will strongly grow before 2019, especially in the area of big capacity vessels that are supposed to be used for transporting oil related products and other merchandises on large scale.
Germany and UK will be forced to readapt their strategies if they would like to further compete with Asia-Pacific.
According to the report provided by the source, Hong Kong will become market leader, followed by South Korea and China especially on the components’ market segment. Algeria is also included in top 10 due to huge investments in shipyards’ capacities and infrastructure in general. Proximity with Europe definitely helps.
Brasil, Mexic and Venezuela being in this top indicate the importance of Latin America in the near future of the shipbuilding industry. Even so it looks like the entire shipbuilding sector is moving away from Europe, the research and development activities are mainly concentrated here, along with the building of technical and cruise ships.
Source: World Maritime News
