The Danish Shipbuilding and Marine Equipment Industries, 1970-2010
Over the last couple of decades, the shipbuilding and marine equipment industries in Denmark and elsewhere in Europe have been exposed to strong competition from new and rapidly expanding maritime nations in Asia. In the 1970s, Denmark had a stronghold in both industries, which have been closely related and which have both derived demand from the volatile shipping industry. They also have clear mature characteristics. To a large extent Danish companies in both industries have had to address the same types of challenges caused by the emergence of dynamic, low-cost competitors. Nevertheless developments in the two industries have diverted after 1970. All the large and medium-sized Danish shipyards have ceased, whereas several equipment suppliers have endured and some have built up strong positions within their respective fields. Focusing on corporate strategies in shipbuilding and marine equipment manufacturing, this article examines the diverting developments of the two industries and asks what has caused this divergence?
Erhvervshistorisk Aarbog, 2013, Vol 62, Issue 2, p. 57-77