Prospect of Ship Building Industries in Bangladesh
Prospect of Ship Building Industries in BangladeshPROSPECT OF SHIP BUILDING INDUSTRIES IN BANGLADESH
Md. Mahfujul Amin
Prospect of ship building industries in Bangladesh
Bangladesh has a thousand year old history in shipbuilding. There are more than 200 shipyards in the country, which are mainly engaged in building and repairing low quality inland vessels. Two shipwards have succeeded in making international classed vessels- and many more will come. It is about 15% cheaper to produce a ship in Bangladesh than anywhere else and the industry is expected to grow significantly.
Bangladesh is enjoying a boom in ship building. Driven by rising demand and a global supply shortage, existing players in the market have been able to capitalize on a global backlog in orders and sharp rises in prices. While investment in existing shipyards provides significant investment opportunities, investment in new yards may less compelling given two to three year lead times, a forecast fall in demand from 2011 and global dominance from China. However, leveraging its low cost base, adopting new technologies, coupled with government incentives and a strategic focus on areas such as small ships, Bangladesh could carve itself out a profitable niche.
Bangladesh, through the course of time, has gained a comprehensive experience of building fine vessels in answer to her communication and transportation needs. From wood to steel, and from single-deck to multi-deck vessels, the country’s Shipbuilding Industry has developed over time and so has the labor force’s mastery of the craft. Today, There are over two thousand 500 tonne–to-2000-tonne capacity cargo-ships and...