The novel paints a stark picture of a society ravaged by economic hardship and social decay. The shipyard, once a symbol of progress and prosperity, now stands as a decaying monument to a bygone era. Larsen, along with the town's inhabitants, embodies this sense of disillusionment, clinging to illusions and past glories as a shield against the harsh realities of their present.

Despite the bleak setting, Onetti weaves a thread of hope through Larsen's unwavering belief in the shipyard's revival. This hope, however, is ultimately revealed to be an illusion, a coping mechanism against the crushing weight of reality. The novel questions whether true hope can exist in a world consumed by decay or if it's merely a form of self-deception.

Loneliness permeates the lives of the characters in "The Shipyard". Larsen, a man haunted by past failures, finds himself increasingly isolated in his position of authority. His attempts to connect with others, particularly with the owner's daughter, are thwarted by their own internal struggles and the pervading sense of despair that engulfs them all.