Report: S. Korea lags China, Japan in Shipyards

Maritime Activity Reports, Inc.

June 27, 2006

According to reports, South Korea fell behind China and Japan in the number of shipyards ranking in the world's top 50 in terms of order backlogs as of the end of May, although seven South Korean companies were No 1 through No 7, a London-based market research firm said. Fifteen Japanese shipyards and the same number of Chinese companies were included in the world's top 50 list, while only nine South Korean shipyards made it, Clarkson Plc. said. South Korea boasts the world's top seven shipyards - Hyundai Heavy Industries Co, Samsung Heavy Industries Co, Daewoo Shipbuilding & Marine Engineering Co, Hyundai Mipo Dockyard Co, Hyundai Samho Heavy Industries Co., STX Shipbuilding Co and Hanjin Heavy Industries & Construction Co.

Only two other South Korean shipyards, Sung-Dong Shipbulding & Marine Engineering Co. and Shina Shipbuilding Co., were on the list, ranking 25th and 33th in the world, respectively. China's Dalian New Ship Heavy Industry Co and Shanghai Waigaoqiao Shipbuilding Co ranked No 8 and No 9 each in the world, followed by mid-sized shipyards such as the world's 15th-largest shipyard Hudong-Zhonghua Shipbuilding Group Co and the 17th-largest New Century Shipbuilding Co. Although only one Japanese shipyard, Universal Shipbuilding Corp, was included in the top 10 list, Japan had a line-up of competitive companies such as Mitsubishi Heavy Industries Ltd, Ishikawajima-Harima Heavy Industries Co, Oshima Shipbuilding Co and Tsuneishi Heavy Industries Cebu Inc, ranking 11th through 14th worldwide. While South Korean shipyards are focused on clinching high-value-added orders for very large crude carriers (VLCC) and liquefied natural gas (LNG) ships, Chinese shipyards are sweeping orders for small to mid-sized vessels and expanding dock facilities to tap the markets for VLCC and LNG carriers, experts said. Source: Asia Pulse/Yonhap

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