The present work studies the concept of productivity in shipbuilding and how it should be measured. The existing metrics, shipbuilding process and shipyard organization were studies in order to choose the most adequate metrics which would allow the measuring of a shipyard productivity in a systematic and holistic way. This is achieved by gathering the man-hours spent in each ship organized by cost centre and using Compensated Gross Tonnages as the measure of output from the shipyard. Data was gathered for thirty ships built in the same European yard organized by cost centre. From the data collected it was found that the ratio of hours spent in outfitting to the hours spent in structures is proportional to the complexity of the ship. There was also opportunity to study the work reduction resulting from building ships in series and the shares of labour for ships series and across ship types.