The author's theme is that the forward view of British shipping over the time span being considered will be to a large extent a view of existing ships. The industry is too capital intensive, too highly geared and operates at too low a level of profitability to admit of a very rapid change. Developments in the future must be based on the profitability of the present. It must be anticipated that in the early part of the period considered, a great part of the developments will be concentrated on improving the efficiency of the existing industry. Future developments will be dictated by techno-economic considerations. It is likely to be the middle 1980s before the scene is substantially changed by nuclear power and fluidics. A major technical development of the middle part of the period will be the growth of a fleet of liquid gas carriers for which gas turbines will provide the main propulsion system.