Tuesday, November 13, 2012

[Ship Building] Chinese outrun Koreans

Chinese outrun Koreans

Chinese shipbuilding industries take the lead in new order contracted this year, in terms of cgt.

According to Clarkson data, Korean shipbuilders have signed 5.67m cgt (181 vessels), totalling $24.57bn, of new orders during the first 10 months of the year, while Chinese inked 6.11m cgt (350), $12.84bn.

During October alone, Korean shipyards only contracted 0.19m cgt (six), in total of $1.78bn but Chinese booked much larger with 0.54m cgt (36), $1.44bn.

In Particular, Chinese shipbuilders were awarded a total of 2.41m cgt (114 vessels), $4.93bn, during August-October period, which doubles orders contracted in Korea, 0.97m cgt (32), totalling $8.1bn.

On the other hand, in terms of value contracted, Korean shipbuilders recorded total amount of new orders almost twice bigger as those contracted by Chinese.

Korean shipyards made an outstanding results in high-value offshore sector, including drillship, LNG-FSRU, etc., during last month. On the contrary, Chinese contracted mainly for commercial ship, such as bulkers, VLCCs, etc.

But increasing number of offshore contracts are seen from Chinese shipbuilders as well, including PSV, deep-sea tender barge, etc.

Meanwhile, during the first ten months of 2012, overall new orders contracted in the world plummeted by 43% year-on-year to 16.82m cgt (879 vessels).

Korean and Chinese shipbuilders' overall new order declined by 56% and 34% each y-o-y, in cgt terms, during the same period.

Published : November 12, 2012

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