1) Building 2) Construction 3) The construction of ships 
Shipbuilding is the construction of ships and other floating vessels. It normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation that traces its roots to before recorded history. Shipbuilding and ship repairs, both commercial and military, are referred to as `naval....
• (n.) Naval architecturel the art of constructing ships and other vessels.
Ship'build`ing noun Naval architecturel the art of constructing ships and other vessels. 
[n] - the construction of ships
noun the construction of ships