Study on Present Scenario of Bangladesh Ship Building Industries, Underlying Problems and Probable Solution

Abstract

We are living in a competitive world. To develop economic condition of any country, industrial sector plays a major role. There are so many industries in our country in our country. Among these sector ship building is an important activity in context of Bangladesh. Ship building industries have been located along the coastal belt and riverbanks of Bangladesh. Ship building industry generates large amount of revenues for the country. The sea borne cargo growth is increasing 6-8% per year and demand of new ship building is increasing at the rate of 3-4% per year. Considering the world market and internal market, it is assumed that Bangladesh has a bright future to elevate herself as a ship building nations in the world market and surely that factor should encourage more Bangladeshi entrepreneurs to come forward in this business. Experts say more than 55% of the world`s ship are more than 20 years old and need replacing. Globally, this small and medium sized ship market is worth around $400 billion. If Bangladesh can get 1% of this market, then it amounts to $4 billion. Our research deals with the last few condition of ship building industry in Bangladesh. We also discuss about the condition of worker and environmental pollution & underlying problems of shipbuilding in Bangladesh. Finally, we formulating some suggestion which can be taken by the government and the private sector to improve the condition of ship building industry and creating demand for our ships in the world market.