How has the loss of speculative demonstration ships affected the shipbuilding industry?
Short answerIt has reduced the initiative to build and offer complete designs, encouraging firms to meet the minimum of an existing requirement.
NotesShipbuilders once constructed complete example ships and then offered them to prospective buyers. The loss of that practice is judged to have reduced the industry's willingness to promote its own designs. Firms instead tend to build to the minimum of the requirement in front of them.