How did a glut of war-built merchant ships affect civilian shipyards after the world wars?
Short answerIt produced short-term refit work, a long construction slump, and then a replacement wave that only surviving yards could exploit.
NotesWar-built merchant fleets initially keep civilian yards busy with refits, conversions, and upgrades. Once those ships settle into service, their sheer numbers reduce demand for replacement construction. Yards that survive the lean interval can benefit when a large cohort reaches retirement together, while others may close before that renewal arrives. The answer frames shipbuilding capacity as a cyclical industrial problem shaped by fleet age as much as wartime output.