A brief introduction of the maritime industry in Estonia, Finland and Latvia
The maritime industry in Estonia, Finland, and Latvia is two-parted. While Estonia and Latvia have especially concentrated in repairing vessels, the Finnish maritime industry has mainly concentrated in shipbuilding. For Finland, high level of expertise with active research and development emphasis and specialization into for example arctic know-how is a key competition asset in the shipbuilding sector. In Estonia and Latvia, the repairing and maintenance sector has been able to compete with their profitable quality-cost ratio.
Both the repairing and maintenance and shipbuilding industries rely on extensive and reliable networks of suppliers. Most of the suppliers are specialized, small and medium sized companies but also large international operators are present, especially in the field of shipbuilding.
Source: SmartComp Research Report No 1: Maritime cluster analysis on the Central Baltic region
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