Menon Economics has for the fifth year running produced the annual status report for the Blue Maritime Cluster in Møre og Romsdal. The report documents how the maritime cluster in Møre og Romsdal has developed in recent years, benchmarks the cluster’s performance against competitors in Norway and compares recent developments to foreign competitors. Estimates and prognosis for 2020 and 2021 are included in the analysis.
Activity levels in the cluster grew markedly in 2018 and 2019, but the industry locomotives have struggled to be profitable in new market segments. 2020 was supposed to be the first of many profitable years for the cluster with better established value chains for deliveries to these markets. The coronavirus outbreak now puts further pressure on profit margins while at the same time worsening the market outlook. The consequences, especially in the market for cruise travel, will likely provoke another reorientation towards new market segments for activity levels to be maintained.
Download the report.