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German shipyards: Recovery in 2014

With a bulging orderbook in the first months of the year, the German shipbuilding industry expects a strong 2014 after many shipyards have switched to oil, gas, and wind power.

German shipyards expect a growing orderbook in 2014 as the country's shipbuilding industry has set its sights on specialized vessels for the oil and gas industry, along with service and installation vessels for the wind power industry.

"At present, it looks like this year will be stronger than last year. There is overall improvement in investment sentiment worldwide," says Reinhard Lueken, managing director of the German shipbuilding association VSM in an interview with news agency Reuters.

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