RAISING THE BAR
China, with its 35 percent share, continues to dominate the global shipbuilding market thanks to its solid government subsidies, cheap land and labor. Japan and South Korea, with a combined 45 percent, are also key players with Hyundai Heavy Industries leading the way as the world’s largest builder.
However, a new player is emerging in the global shipbuilding arena – Vietnam. With its rising star status, it’s definitely one to watch. Italy and Germany, known for their quality and efficiency, secure the fourth and fifth positions, respectively.
In 1981, the Reagan Administration made a significant shift in the U.S. maritime industry, phasing out subsidies, which posed a challenge to U.S. shipbuilding and vessel operators. Despite this, U.S. shipyards are again booming, particularly in the small ship categories – a testament to their quality and craftsmanship, earning them a reputation as some of the best in the world.
This edition’s cover story features the heir apparent of Med Marine, Yaman ?en. ?en’s father, Hakan, founded Med Marine back in 1995 and remains CEO. Med Marine is known for its tugboats and the Eregli shipyard in Turkey.
In “Boom Times,” News Editor Paul Benecki reports that small and big yards worldwide are building next-generation fleets with bulging orderbooks. Sean Holt, a frequent contributor, reports that the momentum for green fuels is strong and praises the many benefits of methanol in “Green Fuel.”
In “The Decarbonization Challenge,” Associate Editor Allan Jordan asks the all-important question facing naval architects these days, “What to Design?” It’s a smart piece, so enjoy it. Chad Fuhrmann wrote another key article, “Class Acts,” exploring the history and evolving role of classification societies. With all the challenging new requirements, this article is a solid must.
In “The Great Divide,” energy guru Allen Brooks pens another magnum opus for our Eye on Energy column. Nothing like intellectual capital to make your day just a little better! View from the E.U. columnist Erik Kravets offers another fine piece with “Are the Terrorists Winning?” Besides his insightful perspective, it’s also highly entertaining, so all we can say is “thanks” for another gem. Yeah, you must read this.
Senior Editor Jack O’Connell caught up with Ted Williams, President of Senesco Marine, for the Executive Achievement feature. Williams has all the maritime executive credentials and is now leading “the Northeast’s premier shipyard for new construction and repairs” as it becomes a major player in offshore wind. Excellent read. Jack also, in his discerning style, wrote “Making Hay” for his Upgrades & Downgrades column, noting that it’s turned out to be a banner year for shipping. So get onboard!
In “Air Under the Keel,” maritime executive Sean Hogue masterfully reviews the ship repair sector and includes an informative historical overview. Pat Zeitler, in “One Knot at a Time,” reviews the essential role of seals and bearings in keeping a ship running smoothly, and Tom Peters adds the tight bow on this edition’s delivery with his overview of ro-ro ports, which are in “Expansion Mode.”
Don’t forget to spend time with our “From the Bridge” offerings – fast and insightful facts from this edition. Cheers, and we’re already working on the next edition!
Tony Munoz is the Publisher and Editor-in-Chief of The Maritime Executive
To read the latest edition of the magazine, go to The Maritime Executive May/June 2024 Shipbuilding Issue. To subscribe to the magazine, please go to https://www.maritime-executive.com/subscribe.
