Thursday, December 20, 2012

[Marine] 2013 Orders to Grow

2013 Orders to Grow

Korean shipbuilding industries are to win more contracts in 2013, comparing with this year, with major orders for offshore facilities, LNG carriers, etc.

Analyst Yang Hyung-Mo, Taurus Investment & Securities of Korea, said "In 2013, Big3 are expected to book overall 22 drillships, 18 semi-submersible rigs, etc. Including $10.2bn of delayed projects, total amount of production-facility orders is estimated to be around $35bn."

He added "Orders for LNG carriers are prospected to increase up to 32-38 vessels, up by at least more than 15% against this year."

Yang forecasted more than 100 MR PCs would be inked in 2013 and orders for boxship would grow by 81-116% from this year.

He suggested Daewoo Shipbuilding & Marine Engineering as a preferred stake, explaining "With options for seven drillships scheduled to be exercised in 2013, Daewoo also holds a dominant place in Vietnam Block B project and is expected to win at least one FLNG in the second half of the next year."

He selected Hyundai Mipo Dockyard for the next preferred stake, saying "Hyundai Mipo will have the biggest benefits from improving MR PC and medium-sized gas carrier markets. Particularly, medium-sized LPG carrier demand would massively increase in 2013."

Particularly, he added "Hyundai Mipo is expected to win around 38 PCs in the full 2012 and is in talks for more than 40 vessels estimated, just in PC segment."

Published : December 18, 2012

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