German shipbuilding industry braves heavy seas

摘要

For the German shipbuilding industry, the year 2011 began with encouraging signs of economic recovery. Unfortunately, the developments were affected by the uncertainty in financial markets in the second half of the year. A fundamental solution to the enormous national debt in several industrialized countries was a long time coming, so the crisis was increasingly overlapping the real economy. Similarly, shipping and shipbuilding have to continue waiting for the hoped-for momentum and still struggle with adverse competitive conditions which are characterized mainly by increasing overcapacity.