The economic outlook for the maritime industry is mixed. While segments such as port operations and shipbuilding are showing signs of improvement, the shipping industry faces rough waters, according to a recent survey by IHK Nord.
The economic outlook for the maritime industry in Germany improved in shipbuilding and the port industry in spring 2025 compared to fall 2024. The economic barometer for the shipping industry declined by over 30 points. This is the result of the latest survey by IHK Nord, the association of 13 northern German chambers of industry and commerce. Companies are particularly concerned about the economic policy framework, the development of labor costs, the shortage of skilled workers, and the development of foreign demand.
The economic barometer for the shipbuilding industry rose slightly by around eight points. Around 84% of the companies surveyed rate the development of the business situation as unchanged. Nine out of ten companies describe their current business situation as good or satisfactory. The shipyards see economic risks with regard to the recruitment of skilled workers (63.7%) as well as the development of labor costs (56.9%) and foreign demand (39.2%). Almost all of the companies surveyed (99%) currently see the development of the economic policy environment as a major economic risk.
Port industry needs €15 billion
In the port industry, the business climate index rose significantly by 20.4 points to 97.6 points. Here, around 89% of companies rate their current business situation as good or satisfactory. 55% of companies see risks with regard to the development of labor costs. Almost 61% of companies complain about a shortage of skilled workers and more than 83% about the general economic conditions. Over 63% see foreign demand as an economic risk.
“Ports and port hinterland connections are relevant to the system and security. In order to make them future-proof, at least €15 billion must flow from the federal infrastructure fund into North German port infrastructure,” demands Knud Hansen, Chairman of IHK Nord. “The additional € 400 million announced from the Climate and Transformation Fund is an important step, but it is nowhere near enough to clear the investment backlog. Anyone who wants to secure the competitiveness of German seaports must make a clear commitment: The federal government should make a permanent contribution of at least €500 million to the annual port burdens of the federal states and quickly create the necessary legal conditions for this,” said Hansen.
Shipowners are concerned about economic policy conditions
In the shipping industry, the economic outlook of the companies surveyed has deteriorated significantly. The business climate index has fallen by 32.5 points to 76.0 points. At 93.0%, shipping companies are particularly concerned about the economic policy environment. Companies see further risks in labor costs (52.7%) and the shortage of skilled workers (42.1%).
“The geopolitical tensions and uncertainties in US customs policy are causing great uncertainty in the shipping markets, but also in all other areas of the maritime industry. Although some of the new US tariffs have initially been suspended until August 1, it remains unclear whether and in what form they will subsequently take effect. This impasse continues to create medium to long-term uncertainty for the affected companies along global supply chains,” says Hansen with regard to the survey results.
