German shipyards increase revenue by 10% year-on-year

German companies operating in the shipbuilding and ocean industries defended their market position in 2012 despite increased international competition.

In spite of a comparatively week first three quarters in 2012, several large projects in the fourth quarter boosted German shipyards annual revenue to EUR 5.1 billion - a 10% increase compared to 2011. Exports represented the majority of this revenue: they brought in EUR 3.7 billion, a 22% increase year-on-year. Domestic revenue fell 11% to EUR 1.4 billion.

Orders for passenger ships and yachts represented 80% of orders for 2012. 18 new vessels were also ordered ialong with two new platforms for offshore wind farms.