Among the world's ailing industries, few are hurting worse than shipbuilding. The demand for shipping that was whetted by the new Persian Gulf oilfields faded abruptly in 1959, when the U.S. put quotas on oil imports. Result: a worldwide glut of cargo space. To glean what new orders there are, the big U.S. and European shipyards have had to slice deeply into their profits to come up with low bids, but they are still losing ground to the front-running, highly efficient and low-paying Japanese.
Yet, while other Europeans despair of ever winning back...
To continue reading:
or
Log-In
