Friday, July 1, 2011

German marine suppliers to recover

Sales of German marine equipment makers fell again in 2010, but rising orders have prompted hopes the industry will see a recovery in 2011.

Total sales last year amounted to €11.1bn ($16bn), which was 6% down on the 2009 figure. Record turnover of €12.9bn was achieved in 2008.

“[Last year] was a difficult year for the component makers’ production, due to fewer orders from shipbuilders in 2009,” said Alexander N├╝rnberg, managing director of deck machinery maker Hatlapa and head of the Marine and Offshore Equipment Industries’ Committee, which is part of the German Engineering Federation VDMA.

German companies' marine components export ratio stands at 72%, with China being the single most important customer, receiving 21.3% of all exports.

The order intake recovered slightly in 2010, with an increase of 8%. A year earlier, orders had collapsed by 29%. These developments make VDMA anticipate a small increase in turnover for the current year — and moderate, but continuous growth for the coming years.

Some 55% of the sales volume has been ordered by shipyards and another 17% directly by owners or shipmanagers.

Published : June 30, 2011

Source: Asiasis



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