Shipbuilding Competitivenss Slipping Away from S. Korea

MarineLink.com/Arirang News
Thursday, June 27, 2013

Korean shipbuilders have dominated the global market, raking in many billions of dollars to help fuel growth in the country, but now a severe slump in the industry is making them a major cause for woes of the economy., reports Arirang News.

The shipbuilding industry has been a major locomotive of Korea's export-led economy, accounting for about a tenth of the nation's exports for many years.

Korea's vessel exports which set a record-high in 2011, fell by a third in the first five months of this year from the same 2012 period after a 30 percent fall for all of last year. 
A more serious problem is that the industry's mid- and long-term competitiveness is waning.
 Although Korean shipbuilders still dominate in gas carriers and other advanced ships, experts say they're losing their price competitiveness to China for vessels like tankers and bulk carriers.


Source: Arirang News

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

ClassNK Head Attends KOTC Delivery Ceremony

Noboru Ueda, Chairman and President of ClassNK attended the delivery ceremony for the M/T Al Yarmouk, constructed at Daewoo Shipbuilding & Marine Engineering Co.

Vard Orders Parat Electric Steam & Hot Water Boilers

During the last month, PARAT Halvorsen AS has collected four new boiler plant orders from the Vard Group and their multipurpose platform ships of Vard 1 08 design.

N-KOM Lays Keel for Qatar’s First Liftboat

Nakilat-Keppel Offshore & Marine (N-KOM) has achieved another milestone with the keel laying of its first liftboat newbuild project, awarded in July 2014 by long-time

News

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

Fuel-saving Modifications for Containerships’ Engines

Mitsui Engineering & Shipbuilding Co., Ltd., and 100% owned subsidiary MES Technoservice Co., Ltd., have received an order from a Taiwan shipowner for fuel-efficiency

Tropical Storm Dolly Heads toward Mexico

NOAA's National Hurricane Center issued a tropical storm warning in effect from Cabo Rojo to Barra El Mezquital, Mexico as Tropical Storm Dolly approaches the country’s eastern coast.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1437 sec (7 req/sec)