Monday, October 8, 2012

[Ship Building] Major resume Big orders

Korea's large shipbuilders have been making a foray into newbuilding orders since the third quarter of 2012.

H1 saw orders for drillship going a bit slower than last year, however, Daewoo Shipbuilding & Marine Engineering successfully inked five plus one drillships in the end of September, along with Samsung Heavy Industries with two plus two and Hyundai Heavy Industries with one plus one.

Also, Hyundai contracted 10 ultra-large 13,800-teu containerships in July and STX Offshore & Shipbuilding’s Dalian yard penned 9,200-teu quartet last month.

According to Clarksons, global newbuilding investment during Q3 increased by about 5% comparing with the previous quarter. Market players prospect that new order momentum will grow stronger in the fourth quarter.

Analyst Kim Hong-Gyun of Dongbu Securities said "Concerns over economic depression for Q4 will be relieved and many shipowners have announced their intents on newbuilding investment."

Particularly, newbuilding momentum will become outstanding in drillship, LNG carrier and large containership segments.

Rickmers of Germany, CSAV of Chile, Yang Ming of Taiwan, etc., are eyeing ultra-large containership investments.

As for LNG carrier, Golar LNG of UK, GasLog of Greece, NLNG of Nigeria, etc., are expected to place orders within this year.

Lastly, Rowan and Pacific Drilling of the US, Ocean Rig of Greece, etc., have options for additional drillships at Korean shipyards.

Published : October 8, 2012

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