Upswing in north German ports and shipping

Survey by Chamber of Industry and Commerce North notes concerns about shipbuilding
03 December 2021
Container ship in Port of Hamburg

Concerns about shipbuilding dominate the industry in northern Germany, while the port and shipping industries have seen improved business since spring 2021, the latest survey by the Chamber of Industry and Commerce North has found.  

Positive trend in shipping and port industries

The shipping industry showed the most positive trend and climbed 44 points to 127 out of 200 points (very good) maximum on the IHK's business climate index. Around 85 per cent of the shipowners surveyed rated their current business situation as good or satisfactory. The situation in the port industry was similarly good, with around three quarters of the companies terming their current business situation "good" or "satisfactory". The business climate index for the sector had risen from around 105 to 118 points.

Shipbuilding in difficult situation

Shipbuilding remains the biggest problem with the business climate dropping around nine points to just under 70 points compared to spring 2021, according to IHK Nord. The drop is due mainly to rising energy and raw material prices, the increasing shortage of skilled workers and the lack of foreign demand. "Policymakers must step up funding for shipbuilding contracts to overcome the very difficult situation in shipbuilding," said Norbert Aust, CEO of IHK Nord. The German government and those of the states must be more flexible and award public contracts for new buildings and repairs faster," he added.