Crisis Effects on Shipbuilding Market

The shipbuilding industry plays an active part in the fleet adjustment process becoming an important factor determining the supply of sea transport. Merchant ships generally take about a year to build and delivery may take 2–3 years if the shipyards are busy. This prevents the market from responding promptly to any sudden upsurge in demand. Shipbuilding market would face a difficult period of decreasing new order and worsening profitability after financial crisis in 2008. The study provides a comprehensive analysis of current status and what were the effects of the current crisis over shipbuilding market. In the end we highlight the market expectations for shipbuilding industry based on world economy forecasts.