The economic downturn has hit shipbuilding hard. New orders have contracted by up to 90% and cancellations have increased, which is likely to result in significant excess shipbuilding capacity.
The economic downturn has hit shipbuilding hard. New orders have contracted by up to 90% and cancellations have increased, which is likely to result in significant excess shipbuilding capacity. This outlook is unlikely to improve for some time.
Presentations made during the discussion on the impact of the economic downturn on the shipbuilding industry at the 108th Session of the OECD's Council Working Party on Shipbuilding on 9-10 July 2009.
The gobal economic crisis has led to a sharp contraction in steel production, consumption, prices and jobs.
The 66th session of the Steel Committee took place in Paris on 8-9 June 2009.
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