Tuesday, July 5, 2011

Big 3 benefit from offshore

South Korean shipbuilders are entering an order boom stage and large yards with ample track records in offshore plant sector are set to benefit the most.

Shinyoung Securities analyst Um Gyung-ah said six large shipbuilders' combined order intakes in the first half of the year amounted to 79.2% of last year's sales.

Especially offshore-oriented companies like Hyundai and Samsung won the most orders.

Both firms already inked new orders which are surpassing last year's revenues.

Daewoo also bagged new orders equating to 68% of last year's sales.

Meanwhile, STX, Hyundai Mipo and Hanjin won orders equalling less than 40% of last year's revenues as bulker orders diminished in the first half.

Um forecast LNG-related vessel order will continue to increase in the second half of the year with big three benefiting the most.

She expects offshore production facility orders to rise during the latter part of the year after 21 drillship orders went to big three in the first half.

Published : July 5, 2011

Source: Asiasis


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