Marine Link
Sunday, September 25, 2016

S. Korea's Shipbuilders Exceed $30b

December 11, 2006

According to Korea Herald, South Korea's top three shipyards won stronger-than-expected shipbuilding orders worth over US$30 billion in the first 11 months of the year on strong contracts, industry sources said Sunday. The three -- Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. -- clinched orders worth a combined $35.6 billion for ships and marine oil-drilling facilities by the end of November, the sources said. They surpassed their yearly target of $28.5 billion by 25 percent and the value of their full-year orders is forecast to exceed the $37 billion, given ongoing contracts, they said. The shipbuilders' impressive performance in the first 11 months was attributed to strong demand for oil-drilling facilities and high-priced ships such as LNG carriers and large container vessels.

In the first 11 months of the year, Hyundai Heavy Industries, the world's No.1 shipbuilder, received orders of $13.3 billion, with Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries, the industry's No. 2 and No. 3 players, garnering orders of $10.6 billion and $11.7 billion, respectively. In particular, Daewoo Shipbuilding & Marine Engineering topped the list of the world's offshore plants, receiving orders of offshore plants worth $4.2 billion, more than tripling last year's orders of $1.47 billion.



Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News