Tuesday, June 28, 2011

Drillship market bisected

South Korea's Hyundai Heavy Industries emerged as a new player in the drillship newbuilding market and the market is in effect bisected by Hyundai and existing drillship heavyweight Samsung Heavy Industries.

Hyundai has won nine drillship newbuilding orders worth $5bn so far this year.

Hyundai is also now in talks to firm up further three drillship options secured by major drilling companies including Noble.

Hyundai was latest to enter the sector among Big 3, with the other one being Daewoo Shipbuilding & Marine Engineering, but it differentiated itself by a dedicated drillship design.

It delivered its first drillship only in November last year to the world's largest drilling company Transocean. And it is continuing to win new drillship orders from global top owners in North America and Europe.

But Samsung's chase was also formidable this year as it recently inked 8th drillship order this year. Samsung's eight drillship orders are worth $4.6bn.

Samsung has been occupying more than half of the drillship newbuilding market.

Meanwhile, Daewoo has grabbed four drillship orders to date this year.

While the Big 3 monopolize global drillship newbuilding market, industry players pay attention whether how Daewoo will materialize its counterattack down the road.

Published : June 28, 2011

Source: Asiasis


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