A new Ocean Cluster Analysis explains opportunities in ship building and repairs for Icelandic businesses. Ocean Technology has been growing considerably for the past years or 10-13% annually. Interestingly, exports of ship equipment have been the biggest contributors in this growth and several indications point to growth opportunities in this sector. In the coming years, Icelandic fisheries will need to invest in ship maintenance and improvements for 1-2 bn. ISK per year. The fishing companies’ choice of tech firms in these improvements will largely determine developments in Iceland. If Icelandic tech firms and fisheries will manage to successfully collaborate, the ship building industry in Iceland will grow significantly in the coming years.

For more information, please contact Thor Sigfusson, Managing Director of the Iceland Ocean Cluster at thor[@]sjavarklasinn.is or +354 577 6200.