Shipyards Face Impacts of Inflation and War

With rising inflation and devaluation of the Argentine peso against the US dollar, Argentinian shipyards are beginning to feel the impact of their country’s disturbed economic situation, in addition to the far-reaching effects of the war in Ukraine. Rising food prices have a direct impact on labour costs, something that most employers in Argentina, including shipyards, have been feeling over the past years. But those companies are also having to deal with the increasing prices of raw materials, especially steel and aluminium. According to Domingo Contessi, owner of Astillero Contessi, one of the traditional shipyards specialising in fishing boats, steel prices have gone up significantly since last year. ‘It’s a very complex situation. We have faced difficult times like this in the past, but never with such abruptness,‘ he reflected. Photos, Video, >click to read< 14:41

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