September 2, 2007
German shipbuilding order boom continues
The order boom at German shipyards has strengthened in the first half of 2007.
According to figures released last Friday by industry organization VSM and reported in Hamburger Abendblatt, the yards booked 40 new orders worth Euros 3.1 billion in the period, including 13 containerships. Meantime, newbuilding deliveries in the first six months of the year totaled 37 ships worth some Euros 1.3 billion.
Germany's shipyards now have an orderbook of 248 ships worth Euros 15.2 billion--enough to provide work for around five years. Passenger ships account for around 31 percent of the orderbook, containerships 28 percent and yachts 19 percent.
Nonetheless, the new chairman of the VSM, Werner Lueken of Lloyd Werft, Bremerhaven, warns that the present healthy market situation must not lead to neglect of the increasing dangers presented by excessive capacity expansions by Far East yards. He says the yards must use the present strong order situation to strengthen their competitiveness in cooperation with political and social partners.