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Shipbuilding and Ship Repair
Scandinavian Shipping Gazette
March 26, 2004
 Editorial:
Tough decisions ahead for European shipbuilding
The development of the European shipbuilding industry depends to
a large extent on political will.
Honestly! What happened to Spain’s
maritime greatness. It is always comforting to turn to our great
philosophers when simple matters are made complicated by political
misguidance or simply by dogged obstinacy.
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Uncertain
tanker outlook in North Europe. Outlook for wet freight
in North Europe remains uncertain. Both crude and products are off
the heights. The latest rally began in November last year and lasted
well into February.
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Kjell Inge Røkke
reorganises his top team. Norway’s most flamboyant industrialist,
Mr Kjell Inge Røkke, was left high and dry when his very accomplished
chief executive, 42-year old Mr Helge Lund accepted the job as new
CEO of Statoil. |
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Finance
and Insurance: Cheap
finance for ship – but for how long.
Tons of cash is needed to finance the current orderbook and many
owners are looking for more equity, either in the equity capital
market, through venture capital and through private equity funds.
Most of the big shipping companies do not need to look for equity,
but medium size to smaller operators are always on the lookout for
risk capital. Money is not too expensive these days, except in the
high-risk areas like shipping.
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Denmark:The first new facility in years. Esbjerg
has opened and Marstal has re-opened. The rest of the Danish shipyards
are awaiting market development, navy orders and foreign competition.
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European
ship repair – a cut-throat business.
Emphasis on quality, expertise and tight scheduling has helped bolster
ship repairers in North West Europe, while yards in the Baltic –
with a few exceptions – still rely on a competitive advantage
in the region in pure steel work.
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Finland:The shipyards need new orders. In
Finland there is a need for new orders soon. Lately, the Finnish shipyards
have been meeting fierce competition, especially from Italy.
Germany: Yards hold their own as orders pick up.
German shipbuilding held its own in 2003 and went into this year in better
shape than many would have dared hope for just a year or so back, when
the order flow all but dried up.
Norway: Struggling ahead. The drought in
European shipbuilding has turned out much as feared, as the last completions
from the 2000 building boom have been effected and new orders are few
and far between.
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Poland: Where are the shipyards heading?
The year 2003, as 2002, went down in history as one of the toughest
years ever for the Polish shipyard sector. Long-lasting problems
carried on from the late 1990s, new crises – the worst ones
being encountered by the newbuilding shipyards in Szczecin and Gdynia
– and an evaluation of remedial action should form the basis
of both an appraisal of the current
situation, and an attempt to adopt an appropriate strategy for the
future.
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Estonia: BLRT – focus on shipbuilding. The Estonian
shipbuilding and repair group BLRT Grupp has wanted to build ships
for years, and has built some too. None of the projects has developed
into serial production, which would give better returns.
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Sweden:From
second to (almost) none.
Thirty years ago, Sweden was the second-largest shipbuilding nation
in the world. In 2003, the output was limited to a naval surface vessel,
two trawlers and a handful of working and patrol boats. The ship repair
sector is, however, “alive and kicking”. |
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More feature articles:
• Latvia: New regular customers in Riga
• Lithuania:
Changed structure at Western Shipyard
• Russia: Yantar makes naval and civil ships
• Croatia a leading shipbuilding nation in Europe 60
• 2010 an important year for Chinese shipbuilding 63
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Also in this issue: News review, Market reports, Fleet news,
IT and Communications, Technical News and Old Ship.
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Next english issue, Ro-ro Technology, is due 23 April, 2004.
Latest update 18-10-2006 8:49
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