European shipyards are dying under pressure from Chinese and Korean competition. In 10 years the docks will be empty?
The shipbuilding industry in Europe is still working. The European shipbuilding industry may only be history in 10 years. European shipyards are vulnerable to dumping practices and the direct support of the shipbuilding industry by Asian countries. European shipowners operating under a protective umbrella and often with the significant support of their countries allocate their profits to Asian shipyards.
– German shipyards can only obtain orders if the contract prices are adequate. They cannot offer subsidized prices or hope that the state will recoup the losses. While some market segments have seen record demand, Chinese shipyards are now offering contract prices up to 30% lower than 15 years ago, while the average wage in China has increased by almost 400% over the same period, VSM informed in a recent press release.