Thursday, November 15, 2012

[Ship Building] Strong Won affects NB prices

Strong Won affects NB prices

Won-dollar exchange rate is declining up to near a level, which gives bad impact on Korean shipbuilders' price competitiveness.

The exchange rate quoted at 1083.3 can make profits from ship export, according to a recent report by the Korean Chamber of Commerce and Industry (KCCI). At present, the rate remains around this level and if the rate decrease further, it will eventually influence on shipyards' newbuilding negotiation.

KCCI reported that the limited exchange rate which secures export margins for Korean overall companies stands at 1086.2.

In case of shipbuilding, plant and equipment industries, limited rate is KRW 1083.3 to the dollar.

Since most of orders contracted in dollar denominated, in domestic shipbuilding industries, shipyards are very vulnerable to FX fluctuation.



Published : November 14, 2012

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