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Comparison of Demographic Changes in Shipbuilding Industry in India & China


Authored by Achal Garg



Shipbuilding is an economic sector that has high scientific, technological and production potential and is capable of generating a significant impact on the development of technology in related industries. As a result, key maritime states around the world pay particular attention to the creation and development of innovative technologies in the shipbuilding industry. Foresight has confirmed its effectiveness as a long-term forecasting instrument for scientific, technological and economic development in the industry as it allows analysts to take into account a complex array of factors influencing market supply and demand alongside current technological trends [Georghiou et al, 2008; Gokhberg, Sokolov, 2013; Saritas et al, 2013; Haegeman et al, 2013]. This article seeks to outline the future of the shipbuilding industry in the period up to 2030 based on an assessment of the current state of the global and domestic shipbuilding and ship repair markets and a forecast of changes with account of contextual factors. The prospects for scientific and technological development in the domestic civil shipbuilding and ship repair industries have been viewed in the context of global, national and inter-industry challenges, trends, driving forces and constraints. This study of inter-industry interaction has enabled us to highlight the synergetic effects brought about by the application of technological innovations from other economic industries. Increasing competition and globalization bring about challenges in shipbuilding. The current recession and the consequent dearth of new ship orders continue, while the focus of shipbuilding has been gradually moving to Asia [1-5]. The Arctic know-how, offshore operations and wind power represent new business areas on which the European maritime operators most pin their hopes and expectations. There is also a growing interest in environmental technology within the maritime industry.

 

The story of the shipping industry since the first steamships were built more than a century ago has been one of ingenuity, professionalism, fabulous profits and some disastrous miscalculations. It includes the drama of the super tanker, the meteoric rise of shipping superstars like Niarchos and Onassis, and some equally dramatic scandals such as that involving Tidal Marine, which built up at 700,000 dwt (deadweight tonnage) shipping fleet in the early 1970s and was subsequently indicted, with a number of bankers in New York, on charges of fraudulently obtaining more than $60 million in loans.

 

Shipping is a complex industry and the conditions which govern its operations in one sector do not necessarily apply to another; it might even, for some purposes, be better regarded as a group of related industries. Its main assets, the ships themselves, vary widely in size and type; they provide the whole range of services for a variety of goods, whether over shorter or longer distances. Although one can, for analytical purposes, usefully isolate sectors of the industry providing particular types of service, there is usually some interchange at the margin which cannot be ignored. This suggests that there are several important ground rules for approaching shipping economics [6,7]. First, it emphasizes the importance of the commercial divisions within the shipping market-the liner business carries different cargoes, provides different services and has a different economic structure from bulk shipping. Second, it acts as a reminder that shipping is in another sense a single market. Some shipping companies are active in both the bulk and liner markets and many ships are designed to operate in several different markets. Consequently, we cannot afford to treat the market as a series of isolated compartments. We must recognize that, particularly in a depressed market, owners can move their investment from one market sector to another in order to avoid problems. As a result, supply/demand imbalances in one part of the market can ripple across to other sectors.

 

To read more about this article: https://irispublishers.com/gjes/fulltext/comparison-of-demographic-changes.ID.000609.php

 

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