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22 April 2023 | Page 1
Industry Outlook Forum – European Cruise Council
Overview of the state of shipbuilding orders in Europe and a vision for its future
Jacques HARDELAY, General Manager, STX France and CESA Vice President
14th September 2010
22 April 2023 | Page 2
General overview
Financial crisis
Sovereign crisis
Cruise goes on but however deeply impacted :
End customers behavior
Cruise brands economy
Shipbuilders and industrial network load and health
Most probably long term changes and new configuration
22 April 2023 | Page 3
Orderbook – status
12 vessels ordered per year up to 2007
0 vessel ordered the next 2 years
Some orders were then placed from end 2009 to mid 2010:
1 Carnival Dream to Fincantieri 2 Princess vessels to Fincantieri 1 MSC vessel to STX France 1 GNMTC (Libya) vessel to STX France 1 Aida vessel to Meyer Werft 2 NCL vessels ? 1 Hapag Lloyd vessel ?
6 to 7 vessels per year are expected to be ordered in the future Clients more and more demanding in term of price: 150 K€ per LB ! Equipment prices do not necessarily follow the main trend !
22 April 2023 | Page 4
Consequences on shipbuilding industry
High outfitting load due to delivery of ordered vessels (ex: Epic mid 2010 / Allure of the Seas for end October 2010)
A steelwork underload followed by an outfitting one
Then, necessity to come back to higher load within a lower order context
Such load variations are very detrimental to:
. Management of human resources,
. Efficiency,
. Financial results
22 April 2023 | Page 5
How to deal with underload periods ?
Redeployment scheme such as: . Transfer from steelwork to outfitting work
. Less subcontracting in favor of internal staff
Training
Unemployment measures
Plan of Voluntary Departures
Lay-off plan
22 April 2023 | Page 6
How to deal with underload periods on a long term?
By diversifying . Engineering works for other industries
. Production for other segments of marine industry
. LCS (Life Cycle Services) works By reduction of capacity ?
22 April 2023 | Page 7
How to manage price drop?
By monitoring shipyards' overheads
By developing more efficient design in term of construction (ex: more compact GA and « lean » technical specifications… ). Good understanding of shipowners
By increasing productivity thanks to investments and process improvements
By proposing more efficient design in term of operation costs (ex: energy savings) Shipowners must accept to pay more considering good ROI
22 April 2023 | Page 8
Importance of prototypes
Today, new regulations (Safe Return to Port / Probabilistic Stability) is still leading to develop new prototypes
Pressure on prices may encourage our customers to order longer series and develop platforms thinking
But prototypes are necessary to maintain shipyard design resources and competences, essential to develop innovative designs in the future
22 April 2023 | Page 9
Improve productivity: some trends
Computer systems (CAD)
Quality
Logistics
« Lean » processes
Investment capacity is limited !
22 April 2023 | Page 10
Far Eastern appeal: is it a real threat?
Volumes reduction in cruise segment
Prices decrease
More and more sophisticated vessels
Higher Asian currency and standard of living
Lead to think that Far Eastern countries should wait a little bit more !
However present in some tenders
22 April 2023 | Page 11
Conclusions
Very challenging time for shipbuilding industry (load and price)
Shipyards and network adapting themselves to present situation with difficulty
Shipyards and network looking for better efficiency in the future
Shipowners have to maintain sufficient level of orders, including some prototypes
Shipowners must be open to shipyard initiatives when developing together efficient designs
22 April 2023 | Page 12
Thank you for your attention