Chinese Shipyard in Fifth Place for First Time

By Aiswarya Lakshmi
Wednesday, December 30, 2015
Image: Shanghai Waigaoqiao Shipbuilding

 According to UK-based Clarkson Research Services, Shanghai Waigaoqiao Shipbuilding (SWS) had an order backlog in November of just over three million compensated gross tons  (CGTs), an indicator of the level of shipbuilding ouput.

That puts the Chinese  shipbuilder in fifth place by order backlog in November, posing a threat to South Korean shipyards which had been dominating the top five list for years.
SWS had an order backlog of 3.03 million CGTs as of end-November, beating South Korea's Hyundai Mipo Dockyard Co. that held 2.84 million CGTs, says a report in Yonhap.
Daewoo Shipbuilding & Marine Engineering Co. captured the top spot with 8.24 million CGTs, trailed by Samsung Heavy Industries Co. with 5.03 million CGTs and Hyundai Heavy Industries Co. with 5 million CGTs, the data also showed.
Hyundai Samho Heavy Industries Co. ranked fourth with 3.92 million CGTs.
South Korean shipbuilders have been facing challenges throughout 2015 with key players posting net losses amid an industrywide slump and rising costs.
Korea′s ″big three″ logged a combined loss of over four billion dollars in the first half of the year. Even more concerning is that prospects aren′t looking good for next year either.
The country's top three players logged a combined loss of 4.7 trillion won (US$4.03 billion) in the first half of the year, with the losses expected to amount to over 7 trillion won for the full year as there's a delay in the construction of offshore facilities and a drop in new orders.
Analysts say that in order to maintain competitivness Korea's local shipbuilders need to focus on their core strengths rather than expand their businesslike branching off into construction of offshore plants where they lack experience.
They add that the government will need to help small shipbuildersas it′s only a matter of time before Chinese shipyards catch up.

Maritime Today

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

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


Russian Sub 'Stary Oskol' Enters Black Sea

Russia’s Stary Oskol submarine, the third boat in Project 636.3 series for the Black Sea Fleet, on a voyage to its permanent base has passed the Bosporus and Dardanelles straits,

VLCC Delivered to Gener8 Maritime

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, has taken delivery of the ECO VLCC the Gener8 Constantine on June 27,

Future LCS Charleston’s Keel Authenticated

A ceremony was hosted to celebrate the keel authentication of the U.S. Navy's future USS Charleston (LCS 18), the ninth Independence variant littoral combat ship, June 28.


Beijing Slams South China Sea Court Proceedings

Permanent Court of Arbitration ruling set for July 12. An international court said it would deliver a hotly anticipated ruling in the Philippines' case against

Demand, Bunker Pricing Spurs Asia Dry Bulk-Capesize Rates

Owners asking $1 per tonne more on Australia-China rates; Panamax rates climb to two-month high, but remain under pressure. Freight rates for large capesize

Construction Begins on Johan Sverdrup Riser platform

The riser platform construction start was marked today at the Samsung Heavy Industries yard in South Korea. Project director for Johan Sverdrup Kjetel Digre (from right),


Paris MoU Reports Decrease in 'Bans'

Paris MoU reports that 2015 shows a large decrease in the refusal of access (“bans”) within the region: 11 bans compared to 20 in 2014. The detention percentage has remained stable at 3.

BSM Acquires USCG Qualship 21 Program Approval

Bernhard Schulte Shipmanagement is proud to announce that it has received US Coast Guard (USCG) Qualship 21 Program approval for the BSM India-managed, Algoma-owned

Jinhui Sells Supramax

Jinhui Shipping and Transportation has agreed to sell another supramax dry bulk carrier, having just made a similar deal earlier this month.   The purchaser is a company incorporated in Hong Kong.

Maritime Contracts Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair 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: 0.0934 sec (11 req/sec)