Tuesday, October 30, 2012

[Ship Building] Shipbuilding Crisis Continues

Shipbuilding Crisis Continues

Major shipbuilders from five countries, Japan, Europe, China, Korea (South) and the US, held a 'JECKU Top Executive Meeting‘ last month in San Diego, the US.

Some 70 officials in shipyards from five countries agreed that current crisis in shipbuilding industries will continue for the next several years.

JECKU's Chairman announced that as global economy being stuck on a plateau of low growth and its downturn being expected to continue, shipbuilding industries are facing imbalance between tonnage supply and demand and decrease in newbuilding prices.

Also said that close cooperation with related industries as well as reflection of shipbuilders' opinion on IMO's standard should be accompanied.

Particularly, the chairman said that changes in environmental conditions and global energy market, such as introducing alternative fuels, etc., would serve as a momentum for shipbuilding industries to make a turn.

Also, cooperation between industries on international regulation and development of innovative products will help market recover.

Published : October 29, 2012

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