Though it can take any ammount of time if I understand the rules correctly. People have at least 3 minutes to build their ships in phase 1, more if no one flips the timer fast enough.
Still, I love the concept of being forced to build a piece of trash and then somehow keep it together while trying to make at least a bit of money on your trip
Should be a lot of fun. I also like how the rules state that whoever wants to be first can just snag the #1-Token whenever he wants (he has to stop building of course)