Ship and boat building had declined in the US.

wausaubob

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After 1855, ship and boat building dramatically declined in the US.
Both charts included in the preliminary report of the census by Commissioner Kennedy show the same decline:
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p. 109-108. This affected the economies of the New England and Mid-Atlantic states. Meanwhile the 10 states involved in exporting cotton to Europe enjoyed strong sales, with only modest declines in the price of cotton, up until 1858.
World conditions influenced by the end of the Crimean war, hurt the US ship and boat building industry, and helped the cotton producers.
Mr. Calhoun's Table 1 at page 62 shows the trends in British imports of cotton.
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