Tuesday, November 27, 2012

[Ship Building] NB market "Uncertainty Grows"

NB market "Uncertainty Grows"

Due to global economic slowdown, Korean shipbuilding industries will be hard to be improved by the first half of 2013.

Analyst Yoo Jae-Hoon of Woori Investment & Securities said "Shipbuilders are facing weakened new order momentum amid depressed global economy," and explained "Some of commercial ship investment and offshore energy development projects have been postponed."

He also said that recently named orders for large-size boxship are under negotiation, however, firm contracts are highly likely to be delayed.

Yoo analyzed "Korean shipbuilders' share prices seem to have reached closer to the bottom, however, they won't be able to turnaround when risky foreign variables continue to exist."

He prospected "Increase in new order is unlikely to expect during H1 2013, but commercial ship market could start to recover from H2 2013 only if overseas risks are to be eased."

{C}{C}Published : November 26, 2012

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