The New Shipbuilding Boom: Giants of the Waves

Commercial shipbuilding is on the rise, with more than 5000 giant ships set to be launched over the next three years. The boom is a response to China’s growing export market, reports Thomas Schulz in “Der Spiegel.” Germany owns most container ships, followed by China, Japan and Taiwan. But Asian firms construct the large ships, most of which are so massive they cannot fit into European ports. Instead, small feeder ships meet up with the container giants, for unloading and distribution to other regions. A decade ago, German engineers designed ships and supervised construction in nations like South Korea. But Asian firms quickly became adept at the entire process, from design to engines. “It's not just jobs which are moving, irreversibly, overseas – but also knowledge,” writes Schulz. “Entire industries now move wherever production happens to be cheaper, faster and more flexible.” South Korea holds about 40 percent of the shipbuilding market for now, but China is anticipated to soon command the lead. – YaleGlobal