Monday, July 18, 2011

S. Korea overwhelmingly No. 1


South Korea regained its status as the world's leading shipbuilding nation in the first half, taking more than half of the global market in terms of orders measured in cgt, the government said Sunday.

In the January-June period, the country's shipyards secured orders for 224 ships, totaling 8.92 million compensated gross tons (CGTs) worth $31.4 billion, according to the Ministry of Knowledge Economy and the Korea Shipbuilders' Association (Koshipa).

The figure represents 53.2 percent of the 16.88 million CGTs worth of orders placed worldwide in the first half of the year.

China, the global market leader from 2009 through 2010, won orders for 258 ships during the cited period, but placed behind South Korea in terms of orders measured in CGTs and value.

Chinese yards secured orders worth $8.8bn that amounted to 5.17 million CGTs in the six-month period taking 30.8% global share.

The orders won by South Korean yards are worth $31.4 billion, already reaching over 90 percent of the $34.8 billion the country secured for the whole of 2010, according to the ministry.

The ministry earlier forecast that exports by the local shipbuilding industry would reach $51.7 billion this year.

"The country's shipbuilding sector maintained the No. 1 place in the world by major shipbuilders focusing on value-added ships although the world's shipbuilding market shrank 10.2 percent (on-year) in the first half," the ministry said in a press release.

In the first half, South Korean shipbuilders grabbed orders for all but seven new drillship orders in the world, along with the only orders for two floating production, storage and offloading (FPSO) vessels and two LNG-floating storage and re-gasification units (LNG-FSRU). Local yards also won orders for 19 new LNG carriers.

"The country secured orders for 69 containerships, each with a loading capacity of over 8,000 twenty-foot equivalent units, in the first half. That accounts for 75 percent of all orders placed in the world for containerships of the same capacity and 65 percent of orders for all containerships in the first six months of the year," it said.

The ministry, however, noted China was still the world's largest shipbuilder in terms of actual ships being launched.

In the first six months of the year, China constructed 511 vessels, totaling 8.36 million CGTs. South Korea built 253 ships, totaling 7.72 million CGTs, down by 6.1% against the same period of last year.

Meanwhile, the ministry said shipbuilding and offshore equipment exports in the first half totalled $32 billion, up 30.1% year-on-year.

In the second half, high oil prices would continue and LNG carrier and offshore plant orders would continue to lead the newbuilding market, it added.

Published : July 18, 2011

Source: Asiasis


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