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Changes in the Global Shipbuilding Industry on the Examples of Selected States Worldwide in the 21st Century

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  • Malgorzata Kamola-Cieslik

Abstract

Purpose: The paper aims at analysing the changes in the shipbuilding industry and the decisions of various states seeking to increase the competitiveness of Asian and European shipyards in the 21st century, the impact of the COVID-19 pandemic on the portfolio of shipbuilding orders in 2020. Design/Methodology/Approach: The method of decision analysis makes it possible to identify the causes and effects of decisions made by governments and the management of shipbuilding groups. The comparative method is used to compare the changes taking place in the European and Asian shipbuilding industries. The statistical method is used to illustrate the dynamics of the economic and financial situations of shipyards. Findings: Shipyards operate on a competitive world market which experiences cyclical fluctuations in demand for ships. The dominant position of East Asian shipyards in the world market in the 21st century is the result of state subsidies, low labor costs, and the establishment of shipbuilding groups. In 2020, due to the COVID-19 pandemic, shipowners reduced orders for ships in the wake of a decline in demand for sea transport. The pandemic crisis hit shipyards in Europe specializing in the construction of cruise ships hardest. Practical implications: The European Union should adopt solutions that will allow European shipyards to maintain their leading position in constructing complex, technologically advanced ships. To survive the difficult situation on the shipping market, the European shipbuilding industry should use its shipbuilding potential in the field of ship repairs and offshore wind energy better. Originality/value: The research conducted made it possible to present the differences between the European and Asian shipbuilding markets and compare the outcomes of decisions made by various states faced by the financial crisis of shipyards.

Suggested Citation

  • Malgorzata Kamola-Cieslik, 2021. "Changes in the Global Shipbuilding Industry on the Examples of Selected States Worldwide in the 21st Century," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 98-112.
    • Handle: RePEc:ers:journl:v:xxiv:y:2021:i:2b:p:98-112
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    References listed on IDEAS

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    1. Stig Tenold, 2019. "The Declining Role of Western Europe in Shipping and Shipbuilding, 1900–2000," Palgrave Studies in Maritime Economics, in: Niels P. Petersson & Stig Tenold & Nicholas J. White (ed.), Shipping and Globalization in the Post-War Era, chapter 0, pages 9-36, Palgrave Macmillan.
    2. Myrto Kalouptsidi, 2018. "Detection and Impact of Industrial Subsidies: The Case of Chinese Shipbuilding," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 85(2), pages 1111-1158.
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    Cited by:

    1. Konstantinos Bakiris & John Mylonakis & Michael Evripiotis, 2022. "The Asian Giants against EU Shipbuilding and the Covid-19 Factor: How Could the European Shipping Industry Survive?," World Journal of Business and Management, Macrothink Institute, vol. 8(1), pages 1-16, June.

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    More about this item

    Keywords

    Shipbuilding industry; public aid; economic crisis; Asia; Europe.;
    All these keywords.

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General
    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General

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