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German yards and subcontractors strengthened through 2012

German shipyards and subcontractors grew stronger during 2012 and increased their revenue by 10 percent, compared to 2011, according to a new report.

Photo: Ole Lind

The German shipowners and KG companies may be in trouble, but in another part of the maritime industry - the subcontractors and the shipyards - there's no trouble to be found. Things are moving in another direction here, as the companies are experiencing growth, according to a new report by VSM - the German association for shipbuilding and maritime technology.

"German shipyards generated a total revenue of 5.1 billion EUR and were thus able to exceed last year’s performance by 10%. While domestic revenue further decreased by 11% to 1.4 billion EUR, exports increased by 22% to 3.7 billion EUR and accounted for 72% of the total revenue. Above all, particularly the delivery of ocean-going ships with an export share of 97% contributed to this increase," says the report.

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