Thursday, December 13, 2012

[Ship Building] Orders to grow in H2'13

Orders to grow in H2'13

Korean shipbuilding industry's stock prices are possibly to response in advance as commercial ship market is expected to improve by the second half of 2013.

Analyst Yoo Jae-Hoon of Woori Investment & Securities said "I see three things".

The first thing is newbuilding prices are getting closer to the bottom, saying "Due to liquidity effect, raw material cost is predicted to rebound and newbuilding prices will slow down and see the bottom."
The second thing is alleviation of tonnage oversupply. Yoo explained global newbuilding orderbook has reached around those from before 2005 and if trade volume increases in 2014 and 2015, then over supplied shipping market will be settled down by 2015.

Lastly, he pointed out "Existing ships are rather aged" and added shipowners seem unavoidable to invest in newbuilding eco-design ships to be competitive.

Meanwhile, Yoo prospected newbuilding prices would rise accordingly around H2 2013 as it would take some time before ship financing market being recovered.

Published : December 12, 2012

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