Executive Summary:
Shipbuilding is synonymous with Bangladesh. Thousands of locally-built ships ply its inland waters. It also has a history of supplying ocean-faring vessels to European countries, including ships that partook in the Battle of Trafalgar. During the 20th century Bangladesh no longer produced ocean-faring vessels and concentrated on riverine and coastal water vessels. In 2005, Ananda Shipyards and Slipways Ltd secured the first modern order for ocean-faring vessels and it delivered the first ship in the first half of 2008. It has received significant further orders, while a second company, Western Marine, has also received significant orders. There is growing interest in this sector, with several companies indicating that they will upgrade existing facilities to meet international standards or that they will invest in the industry. Sceptics remain and there are those that do not believe that growth in the industry will be sustainable. These views are supported by the current international economic crisis.