Vdma Marine News

As the maritime world collectively feels its way forward in a time now defined by the COVID-19 pandemic, the organizers of the SMM in Hamburg, traditionally the world's largest and most influential maritime and shipbuilding trade event, share market overview insights on the economic consequences of the coronavirus pandemic throughout the the shipping industry.The Covid-19 pandemic has turned the world economy on its head. “The recession this year will likely be more severe, and recovery in 2021 will be slower than we anticipated two months ago…

Germany’s marine and offshore equipment suppliers will have to continue efforts this year to respond to the continuing weak demand from other countries and growing competition in global shipping markets, says German Engineering Federation (VDMA) who reported a decline in orders in the maritime sector in 2017 as sales slid slightly to €11.1 billion ($12.7 billion). However, according to VDMA, the general situation in mechanical engineering industry and digitalization show encouraging signs as companies stand to benefit from developing new markets…

The German Engineering Federation (VDMA) reported a good order situation for German marine and offshore oil and gas equipment suppliers, but the upsurge in incoming orders is not making the sector euphoric. “The boom in world ship newbuilding orders in 2013 gave us strong order growth, particularly from China and Korea. Here our ongoing export commitment in the global market is paying off: Germany remains the leading country for marine equipment suppliers worldwide. At the same time, we registered above average growth in incoming orders in the offshore oil and gas area,” stated Dr. Alexander Nürnberg, Chairman of VDMA Marine and Offshore Equipment Industries, at the association’s press conference held in Hamburg on Wednesday.

“We continue to be successful in world markets and have also found new customers in attractive niches in 2011. At the same time, our regular customers are now again ordering not only in the newbuilding segment but precisely also in the retrofit area,” said Dr. Alexander Nürnberg, Chairman of VDMA Marine and Offshore Equipment Industries, at a late 2011 press conference held in Hamburg. The German maritime economy is an essential industrial sector, which — particularly in the rather…

The VDMA (German Engineering Federation) has noted an upsurge in orders for German marine equipment and offshore suppliers, despite a six percent drop in sales in 2010. “We continue to be successful in world markets and have also found new customers in attractive niches in 2011. At the same time, our regular customers are now...ordering not only in the newbuilding segment, but...in the retrofit area,” stated Dr. Alexander Nürnberg, Chairman of VDMA Marine and Offshore Equipment Industries, at the association press conference held in Hamburg on Wednesday. “2010 was a difficult year for marine equipment suppliers in production, as there were few new orders from shipbuilding in 2009. Nevertheless, we have retained our staff.

“2008 was generally still a very good year with impressive 8.4% growth. In autumn, however, gloom also spread to our sector, which has been so used to success in the last five years,” reports Dr. Alexander Nürnberg, chairman of the German Engineering Federation (VDMA) – Marine and Offshore Equipment Industries at the association’s press conference in Hamburg. “We had expected a consolidation of the  shipbuilding markets, which had been very overheated up to mid-2008. But no one could foresee the actual massive impact of declines in orders…