Thursday, June 23, 2011

Korean dominate high-value

Chinese shipyards took the first place by new ship orders last year by winning massive orders for ordinary commercial ships while newbuilding prices fell greatly, but this year South Korean rivals are leading the newbuilding market by winning high value-added vessels like ultra-large containerships, drillships and LNG carriers.

South Korean yards won orders for 37 ships last month, beating Chinese which won just 17-ship orders, according to latest monthly report by Clarksons.

South Korean won orders for 8,500-13,000TEU boxships and LNG carriers but Chinese mostly secured bulker orders totalling 11 units.

In the first five months of the year, South Korean shipbuilders won 52% containerships, 13% LNG carriers, 12% bulkers and 8% tankers.

In contrast, Chinese won 58% bulkers, 20% containerships and 11% tankers.

In May global newbuilding orders stood at 70 ships, plummeting from 116 ships in April.

During January-May, newbuilding orders valued at $39.6bn for 447 ships of 26.9m dwt. This is down 51% year-on-year in dwt terms on an annualized basis.

South Korean yards took $23.4bn orders for 171 ships of 6.5m cgt and 13.3m dwt while Chinese won $5.9bn orders for 178 ships of 3.4m cgt and 10.5m dwt.

South Korean order intake was down 34% y-o-y in dwt terms on an annualized basis while Chinese plunged 61.2%.

Published : June 23, 2011

Source: Asiasis




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