Friday, August 26, 2011

Big 3 to meet target

South Korea's Big 3 shipbuilders, namely Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbbuilding & Marine Engineering, all seem to achieve order target this year.

Samsung having already exceeded its target, Hyundai and Daewoo have achieved over 80% of target, as well, now in August.

At the moment, Samsung went over its target of $11.5bn by securing 46 newbuildings of $14.2bn, among which high-value ships took big part, including 16 LNG carriers, one LNG-FPSO, one LNG-FSRU, 10 drillships, etc.

Hyundai, including Hyundai Samho Heavy Industries, reached 81% of target with 76 ships, $16.1bn, the largest newbuilding order among Big3. Newbuildings of nine drillships, six LNG carriers, aside from world first one LNG-FSRU and others were booked.

Having obtained 40 vessels of $8.94bn up-to-now, Daewoo got to 81.3% of 2011 target, $11bn. 27 boxships with 20 of ultra-large 18,000-teu took the largest share of newbuilding order and others include eight LNG carriers, four drillships and one recently booked LNG-FSRU, etc.

Meanwhile, Korea's newbuilding order in July was cut in half from the same period last year, which seems to be temporary by seasonal factor.

An industry official said, "It is difficult to forecast when they will meet target exactly, however, Hyundai and Daewoo would easily exceed target this year with remainder of optional newbuildings and ongling projects. Demands for high-value ships, such as drillship, LNG carriers, would continue in H2, as well."

Published : August 26, 2011


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