I live in the "air capital of the world", and all of the aircraft companies have slowed their production. They have laid off workers, and are shutting down the factories for a week, whenever there is a holiday. Some are considering shutting down from Thanksgiving (late Nov. in the U.S.) until after New Years (Jan. 1).
Why should ship yards be any different. Don't they get it? The demand is just not there.
Apparently not. From Lloyd's List
Keith Wallis - Wednesday 23 September 2009
Reinhard Lüken
EUROPEAN shipyards will start to run out of work in 2011 if the newbuildng ordering drought continues, a top executive at the Community of European Shipyards’ Associations warned today.
Cesa secretary general Dr Reinhard Lüken said the backlog of orders at European yards was fundamentally healthy compared with the rest of the world.
I don't think so.
Wake up and smell the coffee.
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