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technologies belong to this. German repair yards are equipped with enough capacity to carry out the necessary modiÞ cation works on time. In terms of location, German shipbuilding is well positioned. With well-developed infrastructure, good leadership and a well-educated staff, the relatively high labor costs nevertheless remain an issue. The current overcapacity in the market and a lack of trained engineers also weigh on the sector. HOW WILL THE GERMAN SHIPBUILDING INDUSTRY POSITION ITSELF FOR THE FUTURE? WHERE DOES IT FIT INTO THE GLOBAL SCHEME?Although the commercial shipbuilding markets account for as much as 80 percent of global shipbuilding output Ð contain- erships, tankers and bulkers, for example Ð this will not be the focus for German shipbuilders. Our focus must be on the re- maining 20 percent of the market, represented by special pur- pose vessels. Nevertheless, this challenging but also proÞ table market will be a future target for Asian shipyards. Beyond the special purpose vessels, however, offshore technology also becomes more important. Here, German companies must po-sition themselves as soon as possible. The same holds true for the maritime environmental protection, which will include the repair, the modiÞ cation and the upgrade of existing ships. Despite the current economic slowdown, the worldÕs mer- chant ß eet will nevertheless grow in the long run. Repair capacity therefore remains important as both seagoing and inland shipping must be prepared to meet the coming envi- ronmental requirements, not only on new ships but also with existing ß eets. We have to take advantage of this. FINALLY, A LOOK AHEAD TO THE UPCOMING SMM INTERNATIONAL TRADE FAIR LEADS US TO ASK YOU WHAT MAJOR FOCUS ? FOR THE GERMAN GERMAN MARITIME INDUSTRY ??The slump in demand, difÞ cult Þ nancing conditions and low construction prices created a problematic environment and required further structural adjustments. Mergers & Acquisitions | Business Valuation Corporate Finance | Strategic Consulting 703.827.0200 | www.mcleanllc.com ?The Leading Investment Bank Serving the Maritime & Logistics Middle Market.?Securities transactions conducted through McLean Securities, LLC, member FINRA/SIPC.20 | Maritime Professional | 3Q 2012MP #3 18-33.indd 20MP #3 18-33.indd 208/15/2012 11:41:54 AM8/15/2012 11:41:54 AM