Korean Shipyards Dominate 2005 Value Market

Friday, April 07, 2006
South Korea's shipyards dominated the world's high-value-added ship market last year, the Korea Times reported. South Korean shipbuilders clinched an average 59.3 percent of the orders, compared with Japanese companies with 25.3 percent and Chinese shipyards with 3.9 percent. South Korean shipyards occupied 42.4 percent of the global market for very large container carriers (VLCC) last year, up 6 percentage points from a year earlier. A unit of the carrier costs about $120m. South Korean companies' market share for container ships of 5,000 TEU (20-foot equivalent units) or greater came to 64.3 percent last year, up 2.3 percentage points from the previous year. Its unit price reaches at least $70m. The companies held 71.3 percent of the liquefied natural gas (LNG) carrier market, up 0.1 percentage point from a year ago. An LNG ship is valued at around $200m, unlike other ships, including bulk carriers and petroleum carriers, which are priced at $40m to $50m per unit. Industry analysts forecast that the shipyards, which have been taking orders selectively since 2000, will continue to lead the global industry. South Korea is home to the world's leading shipbuilding companies, including Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering. (Source: Korea Times)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Great Lakes Inks M.E., N.C. Coastal Protection Project Deals

Great Lakes Announces $55 Million in Subcontract Work in the Middle East and Award of $38 Million for a Domestic Coastal Protection Project Great Lakes Dredge

Olympic Subsea Vessel Bags Contract

Olympic Shipping has secured a contract for Olympic Delta, an inspection, maintenance and repair (IMR) vessel, with an international client  to work on a renewable energy project.

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

Shipbuilding

Symphony Sun’ Launched in Leer

On Friday the 29th of April, Nb. 420 was launched in Leer. She was christened ‘Symphony Sun’ and is the fourth vessel in a series of 6 that will be delivered to Symphony Shipping.

SCHOTTEL Debuts EcoPeller with High-torque Gears

Propulsion and steering systems manufacturer SCHOTTEL has unveiled its new EcoPeller (SRE), which it said offers improved efficiency and robustness. Playing a

Fincantieri Delivers Carnival Vista

Carnival Vista, the new flagship of the fleet of Carnival Cruise Line, brand of the Carnival Group, was delivered today at Fincantieri’s shipyard in Monfalcone.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0795 sec (13 req/sec)