ABSTRACT
In 1866, the shipbuilding trade reached its point of capacity saturation, from which output was then to contract. The UK shipbuilding trade peaked in 1874 at an output of 620,700 tons but collapsed quickly to only 413,400 tons in 1876, when the major shipbuilding areas were in the grip of trade recession. Samuda Bros, were well-known for the construction of high-quality iron ships, ranging from yachts to warships. The London shipbuilder, Samuda, argued as early as 1867 that wages were almost bound to be higher in London, because of higher local costs, notably for housing, and that shipbuilding on the Thames would therefore really only pay for high-quality or speciality work. The more specialised shipbuilders, Thorneycroft and Yarrow, however, both greatly expanded their business, most of which was with the Admiralty and a number of foreign navies. The Wigrams were ship-owners as well as builders, but they found the latter trade very difficult after the slump of 1866.
