RF Ministry of Industry and Trade: Russian shipbuilding has no reason to compete with Korea or China

Russian shipbuilding has no reason to compete with S. Korea or China, IAA PortNews journalist cites Boris Kabakov, representative of RF Ministry of Industry and Trade, as saying at the All-Russia Forum “Shipbuilding and Shipping in Russia: new solutions and economic efficiency” being held in Moscow. 

According to him, Russian shipbuilding should focus on hi-end segments, primarily construction of vessels for Arctic projects. 

As the Ministry representative says, the share of Russian enterprises in total volume of shipbuilding orders in Russia is planned to be raised to 50% by 2030, engineering – to 100%, equipment localization – to 50%.