The Korea Times reported that shipbuilders who were enjoying solid sales have also secured an additional growth engine for further expansion rising oil prices.
With oil prices hitting record highs
, offshore oil exploration has picked up, leading to strong demand for drilling rigs and for the conversion of oil tankers into floating-production, storage and offloading (FPSO) vessels.
The unit price of Dubai crude oil, South Korea’s benchmark, rose to a record high of $71.13 in August, an increase of $1.64 from a month earlier, according to data from the National Statistical Office (NSO). The statistics agency added that it is the first time for oil import prices to exceed $70 a barrel.
Industry sources said oil prices have
quadrupled since 2002.
Samsung Heavy Industries
has at least four LNG carriers on order
, and is optimistic about more contracts for LNG carriers over the next three years on healthy demand
Source: Korea Times