Shipbuilding and repair
The year 2019 was challenging when it comes to the number of new building orders for seagoing vessels. The value of the order intake was only € 351 million. According to the industry association NMT, this translated into more than halving the ordered Compensated Gross Tonnage (CGT). In particular, the lack of orders for large dredgers, high in complexity and order value, has caused this sharp decline in recent years. The total value of the order book was € 1.76 billion, down 5% from a year earlier. The slight increase in the number of shortsea vessels ordered was positive. These thirteen ships ordered are a boost for the Northern shipyards in particular. Many inland vessels (including luxury river cruisers) and fishing vessels were also ordered from Dutch yards in 2019. A boost was the order for the construction of a number of frigates for the German navy.
Impact COVID-19 on Shipbuilding Industry
Shipbuilding cannot escape the consequences either. For example, repair and conversion orders are being postponed and, certainly at the beginning of the crisis, production restrictions due to the shutdown of yards (or factories of suppliers) were a major problem. Because shipbuilding is late-cyclical, its consequences are particularly noticeable in the long term.