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


Keel Laying for Russia's Second Nuclear Icebreaker

Today the Baltic Shipyard in St Petersburg (part of United Shipbuilding Corporation) laid the keel of Ural, Project 22220’s second series-produced nuclear icebreaker.

Russia: 6th Yasen-Class Nuclear Sub

Russia's sixth Yasen-class nuclear submarine will be laid down at the Sevmash ship-building company in the city of Severodvinsk on July 29, reports RIA Novosti.

NASSCO Delivers Garden State to APT

Marking its seventh ship delivery in the span of just over a year, General Dynamics NASSCO has delivered the newly built ECO Class tanker Garden State for American Petroleum Tankers.

Ship Sales

Buy and Sell Vessels from a Mobile Device

The maritime software development company SDSD are launching a new web based VSnP - Vessel Sale and Purchase module, enabling Sale and Purchase brokers to buy and $28.4B Worth of Ships Delivered to Date

As the calendar now indicates we have passed the half year mark on 2016, offers insight on the number and value of all the 2016 built vessels that

India Govt Subsidy for Ship Building Industry

Maritime Agenda 2010-20 has inter-alia set a target to increase percentage share of India to 5% in global ship building and 10% share in global ship repair for India by 2020.


DP World to Develop Kaohsiung Port's Terminal 7

Global trade enabler DP World and the state run Taiwan International Ports Corporation (TIPC), have signed a Memorandum of Understanding (MoU) for the development

Technip Bags Woodside's Subsea Contract

Technip has been awarded a large(1) subsea contract by Woodside to support the development of the Greater Enfield Project offshore Western Australia, at a water

GAC Brazil Sets Up 7th Office

In the latest stage of its national expansion, GAC Brazil has opened a seventh office to offer its shipping, logistics, bunker fuels and marine logistics at one


NASSCO Delivers Garden State to APT

Marking its seventh ship delivery in the span of just over a year, General Dynamics NASSCO has delivered the newly built ECO Class tanker Garden State for American Petroleum Tankers.

LNG-fueled Bulker Ordered from Korea

Hyundai Mipo Dockyard (HMD) has signed a contract to build a 50,000 dwt bulk carrier with ILSHIN LOGISTICS. The project is a collaboration between POSCO and ILSHIN

BMT to Lead Repower for Historic USCG Eagle

BMT Designers & Planners, a subsidiary of BMT Group, an international maritime design, engineering and risk management consultancy, is leading the effort to repower the historic U.

Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Ship Simulators Sonar Winch
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: 0.0892 sec (11 req/sec)