Korean Shipbuilding: Orders received by all three companies January-September, double-digit decrease: Hyundai Heavy Industries, Daewoo Shipbuilding & Marine
Korean Shipbuilding:
Orders received for new ships (including ships) from the three major companies in the January-September period were down double digits for each company.
While struggling due to the stagnation of business negotiations due to the influence of the new coronavirus, the contracts for tankers are the main focus on general merchant ships.
LNG carrier field:
In the field of LNG (liquefied natural gas) vessels, which has been increasing its presence in recent years,
The Hyundai Heavy Industries Group (Hyundai Heavy Industries, Hyundai Samho Heavy Industries, Hyundai Oura Shipbuilding) achieved orders for a total of six vessels from July to August.
Daewoo Shipbuilding & Marine Co., Ltd. also entered October and closed a total of 6 ships with some conditions.
The Japan Maritime Daily
https://www.jmd.co.jp/article.php?no=261745
Korean shipbuilders
As of the end of October 2020, received orders for a total of 107 vessels,
a 38.9 percent drop from 175 in the same period a year earlier.
Globally, order placements
totaled 511 vessels in the first 10 months of 2020, a sharp plunge from 981 a year earlier.
Orders for LNG carriers
worldwide dropped 38.4 percent compared to the same period a year earlier as of September 2020.
Korean shipbuilders
expected a boom in the LNG carrier market, but the boom did not arrive due to delays in major projects and an unexpected good fight by Chinese shipbuilders.
A sharp drop in international oil prices and increased volatility led to the postponement and cancellations of major marine projects.
Clarkson Newbuilding Price Index
Prices of new-build ships are also on the decline.
The Clarkson Newbuilding Price Index has been on the decline since it hit 130.88 points in June 2019.
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