POST Online Media Lite Edition


German shipyards earned 5 billion euro

Staff writer |
German shipyards generated a total revenue of 5.1 billion euro and exceeded last year's performance by 10%.

Article continues below

While domestic revenue further decreased by 11% to 1.4 billion euro, exports increased by 22% to 3.7 billion euro and accounted for 72% of the total revenue. Above all, particularly the delivery of ocean-going ships with an export share of 97% contributed to this increase.

After comparatively weak first three quarters of 2012, the sales figures in the fourth quarter improved significantly due to several large projects. With 18 orders for new vessels in 2012, the number of orders did not match those of the previous years, but tied with last year's performance at 495,000 CGT.

The value of the incoming orders for the entire year reached 3.4 billion euro, exceeding last year's value by 11%.

Despite the cancellation of eight orders of 89,000 CGT valued 0.4 billion euro, resulting from a company's insolvency, the total value of order books rose by 1.2% to 8.5 billion euro for a reduced number of 55 vessels with a tonnage of 1.5 million CGT.

Based on order value, the order books at the end of 2012 were focused on passenger ships and yachts (80% of orders). The offshore market had a significant share of orders with ships (seismology research vessels; wind farm, erection and service vessels) and transformer/converter platforms for wind farms.

What to read next

San Diego shipyards getting $383m to repair Navy ships
German exports to Russia to fall to 10-year low
German trade surplus at record high