Nevsky Capital News

St. Petersburg Shipbuilding Industry Sees Decline

Shipbuilding in St. Petersburg, according to the St. Petersburg Times, is shrinking. In the past, the city’s three largest shipyards - Admiralteyskiye Verfi, Baltiysky Zavod and Severnaya Verf - were overloaded with state orders for submarines and ships, tankers and ice-beakers. But today, many shipbuilding engineers and workers are facing a different circumstance. State orders are no longer able to support the industry. Instead, more successful are those who export their frigates and submarines to India and China. These days any land in St. Petertsburg, but especially along the coast, is in high demand. Shipyards are attracting property developers rather than researchers and developers.