This thesis explores the nature of shipbuilding contract, the impact of English law upon shipbuilding contracts. It analyzes the delay of delivery of ships, the defect in ship’s speculations, buyer’s default in performance of the contracts, as well as discusses those matters concerning the comparison of English law with the ROC law, and risk management relating to ship building contracts. Under English law, shipbuilding contract possesses the nature of sale contract. Thus, the transfer of property right will be different from those contracts of building contracts. This thesis discusses the basic contents of shipbuilding contracts, including the preamble, the description and classification of the ship, the price and the terms of payment, inspection, modification, trial, delivery of the ship, the transfer of property right, quality guarantee, remedy for the breach of the contract, insurance and arbitration, etc. This thesis also provides several case studies to show legal effects arising from the breach of the contract, e.g. delay in delivery, exceptions, buyers’ failure in the performance of the contract, ship’s defect, etc. All these issues lead to afford strategies for shipbuilders for risk management, such as the risks arising from the change of ship prices, the default of the suppliers or the buyers while performing the contract, fluctuation of exchange rates, the technique difficulties, etc. It aims to provide reference for parties concerned while entering into or performing a shipbuilding contract.