Shaping Vessels, Connecting Worlds

Why marine and shipbuilding matter — powering global trade and enabling progress across the seas.

The shipbuilding industry is responsible for the design and construction of ocean-going vessels. Most of the global ship production today is concentrated in Asian countries such as China, Japan and South Korea, though large shipyards also exist in many other countries. The shipbuilding industry is involved in the construction and modification of ships and these operations are carried out in specialized facilities called shipyards. The shipbuilding industry primarily supplies the shipping industry and, hence, a shipbuilding cycle cannot be discussed entirely outside the context of a shipping cycle. Basically, the supply-demand gaps in the shipping industry lead to shipbuilding cycles.