Korean major shipyards are carrying on a cutthroat competition for nine newbuilding 150,000-dwt bulkers for Korean power generation utility companies, including Korea South East Power, Korea Midland Power, Korea Western Power, Korea Southern Power and Korea East-West Power.
Proposals should be submitted by coming December 21 and under conditions of 'built by domestic yards', Korean shipbuilders are fiercely competing with each other.
Sources said newbuilding prices were estimated to be around KRW 50bn ($46.5m) per ship and STX Offshore & Shipbuilding, Hyundai Mipo Dockyard, Daewoo Shipbuilding & Marine Engineering, Hanjin Heavy Industries & Construction and Sungdong Shipbuilding & Marine Engineering are now fighting to win newbuildings.
Shipbuilders are currently in negotiations with shipowners about newbuilding prices, etc. Shipowners should submit letter of intent signed with shipyards when participating in the bid.
Daewoo plans to hand over newbuildings to Daehan Shipbuilding, now under consignment management from Daewoo, for Daehan's stabilization of management.
STX is promoting with STX Pan Ocean and Hyundai Mipo, which recently making a progress with product-carrier orders, is also involved in the newbuilding competition.
With an aim to secure works for Yongdo yard, Hanjin have entered the competition and Sungdong, which has inked mostly specialized vessel, wishes to grab bulker orders.
Published : December 13, 2012
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