Construction costs at Russian shipyards are well above customers’ demand price, Ministry of economy says
Today, construction costs at Russian shipyards considerably exceed those of the foreign shipyards and the demand price does not correspond to the supply price, IAA PortNews journalist cites Yevgeny Yelin, Deputy Minister of Economic Development and Trade, as saying at the meeting of the Marine Board under RF Government being held today, 25 March 2015, in Moscow.
According to him, this is because imported components account for 70% of construction costs with the personnel costs making 10-18%. Yevgeny Yelin also noted low efficiency of labour (11-26% against the level of shipbuilding leaders in terms of tonnage). Besides, the construction terms of Russian shipyards exceed those of foreign shipyards up to 3.5 times.
This prevents investments into the sector, Yevgeny Yelin said.
