Our Way 1
VINJETT SAFETY & SECURITY Europe charts A NEW COU
RSE in shipbuilding The global shipbuilding industry has long been dominated by Asia, leaving Europe largely sidelined. But with rising geopolitical risks and fragile supply chains, the conversation is shifting. What would it take to bring shipbuilding back — and is Europe ready to invest in its own resilience? t’s not Asia in general— it’s China,” says Johan Mattsson, CEO Wallenius Marine. “In our segments, nearly 100 percent of newbuilds are placed there.” The reasons are clear: cost and capacity. European shipyards today primarily focus on large cruise ships, mid-size cargo ships or naval contracts, while Chinese yards offer competitive pricing, efficient production, and established supply chains. South Korea, once a preferred partner, has shifted toward tank & bulk carriers and containers, with cost levels now 20–30 percent above China. BUT ECONOMIC EFFICIENCY comes with strategic vulnerabilities. “You end up pushing 16 OUR WAY 1/2025 a lot of money into a system you don’t control,” explains Johan. “If something goes wrong—if, say, the Chinese authorities decide to withhold delivery—what recourse do you really have?” Urban Lishajko, Head of Ship Design, Newbuilding & Innovation, Wallenius Marine, agrees. “Relying solely on China makes the industry vulnerable to geopolitical shifts. In the past, South Korea provided an alternative. That’s no longer the case in our segments.” European yards are not incapable, but they are unprepared. “Technically, yes, we could build in Europe,” he says. “But the yards that remain don’t build the types of vessels we operate. And when they do, the price can be 50 percent higher—or more.” FOR EUROPE TO regain competitiveness, both agree that political and financial backing is essential. “The industry would need long-term investment and commitment from both shipowners and governments,”