Korean Shipbuilders' Unsold Newbuilds

Korea Times
Sunday, August 19, 2012

Korea's leading shipbuilders post declining profits in second quarter 2012, as well as a growing inventory of unsold vessels.

Shipbuilders here have put unsold ships up for resale at below-market prices but are struggling to get them off the hands, reports the 'Korea Times'.

In June, DSME said it was scrambling to find takers for two 320,100 deadweight tonnage (DWT) crude carriers, after Taiwan’s Today Makes Tomorrow (TMT) withdrew the orders for the ships it made for in 2007.

STX Offshore and Shipbuilding has recently put up for resale three 57,000-DWT bulk carriers as Greece-based shipping company Trojan Maritime gave up its ownership prior to delivery. Each ship is up for grabs at $25 million, down 40 percent from its initial price of $40 million, according to STX.

Some analysts expect more vessels will be put up for resale.

“Given that major orders for shipbuilding come from Europe, the number of contract cancellations and postponed deliveries could increase further,” said Hong Sung-in, a senior researcher at Korea Institute for Industrial Economics and Trade.


 

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

Shipbuilding

World’s First LNG-Ready Ultra Large Container Ship Named

The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships.

Wärtsilä Integrated Solutions for Maersk's AHTS Vessels

A new series of six Anchor Handling Tug Supply vessels to be built at the Kleven Verft AS in Norway for the Danish based Maersk Supply Service A/S - part of the A.

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

Ship Sales

Norwegian Buys Ship from Princess Cruises

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd.

Ship Broker Clarkson Looks to Acquire Platou

Top ship broker Clarkson is seeking to acquire Norwegian brokerage and investment bank RS Platou for 281.2 million pounds ($441 million) in a deal that would create

BMT-Designed Flex Ferries Delivered in Singapore

A trio of 38-metre Flex Ferries, built by Singapore’s Penguin Shipyard International and designed by Southampton-based BMT Nigel Gee, have been delivered to their new owner,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Winch
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: 0.1706 sec (6 req/sec)