Monday, February 7, 2011

Samsung-Hyundai vie for No.1

Samsung-Hyundai vie for No.1

Korea's Samsung Heavy Industries and Hyundai Heavy Industries are engaging in a fierce battel to take the number one position in new orders and orderbook.

According to the Clarkson Research Services, Samsung reserved 200 ships on its orderbook totaling 8.364m CGT at the end of December 2010, remaining in the number one spot for five consecutive months while Hyundai stood at 225 ships of 8.305m CGT.

One shipbuilding player says, "The two shipbuilding giants have entered into a full-scale competition with the first place being switched according to the criteria. In particular, continuing high oil prices would lead them to face a keen competition in the offshore sector."

Samsung, which has set 2011's new order target to $11.5bn, is soon to sign a new order contract to build an apartment-type cruiseship worth $1.1bn and another one to build 10 additional ships of 8,000 TEU from Evergreen.

The yard has also secured four deep-sea drillships, the market of which is pioneered by the yard, and formed strategies to stay competitive through differentiated competitiveness for LNG-FPSOs and ice-breaking ships, which the yard has won for the first in the world.  

On the contrary, Hyundai has set this year's new order target to $19.8bn including its subsidiary, Hyundai Samho Heavy Industries.

The yard has intentionally upgraded its new order target for this year by $7.8bn versus last year to remain in the world's number one spot for new orders as the leading shipbuilder worldwide.

Hyundai is seen to roll out aggressive new order activities, showing tangible results with winning four drillships in the beginning of the year.


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