Big 4 new orders surge

Tiêu đề: Big 4 new orders surge Thu 24 Jun 2010 - 4:22

In the first half of this year, new ship orders at the giant Korean shipyards have rapidly increased by 10 times compared to the figure in the same period of last year.

The amount of new orders is continuously recovering. Hyundai Heavy Industries Co., Ltd., whose new order intakes in the field of ordinary merchant vessels was close to zero in the first half of last year, has successfully won the contracts for the construction of 45 vessels including FPSO, LPG carriers, VLCCs, bulkers and vehicle carriers this year. Total contract value came up to $7bn, passing the half of $12bn, the target figure of this year.

Samsung Heavy Industries Co., Ltd. successfully won the contract for the construction of five 158,000-dwt oil tankers early this month during the Posidonia exhibition for vessels held in Greece, continuing the contract-winning rally.

Until now, the company has won the contracts for the construction of 29 vessels including LNG carriers, LNG-FPSO and oil tankers, with the value of $3.3bn. The figure has increased by more than five times compared to the one in the first half of last year.

A concerned person of Samsung Heavy Industries Co., Ltd. said, "The average construction price for the vessels of the recently obtained orders has increased by about 10% compared to the figure from the beginning of the year." He also said, "It is assumed that the amount of orders and the construction price are recovering at the same time."

Daewoo Shipbuilding & Marine Engineering Co., Ltd. has consecutively won the contracts for the construction of such vessels as bulkers and offshore plant installation vessels, recording the orders for 24 vessels with the value of $3bn in the first half of this year.

The value has increased by 10 times compared to the one in the same period of last year. DSME president Nam Sang-tae recently traveled around Europe and South America for two weeks to win the contracts that are worth $1bn.

STX Offshore & Shipbuilding Co., Ltd. also won the contracts for the construction of 23 vessels ($910m) in the first half of this year. If the amount of foreign orders at STX Europe is included, the figure increases to 32 vessels ($2.46bn).

It is expected that there will be new orders continuously in the second half. It is known that Hyundai Heavy Industries Co., Ltd. is carrying out a negotiation to win additional contracts for offshore plants, bulkers and oil tankers from such regions as Middle East and Africa.

Among the candidates in the tender for the construction of ten 8,000TEU container vessels which will be ordered by Evergreen from Taiwan, Samsung Heavy Industries Co., Ltd. is currently regarded as the most powerful candidate which is likely to win the contract. Also, it is known that it will be possible for SHI to win the contract for 6 additional oil tankers.

Daewoo Shipbuilding & Marine Engineering Co., Ltd. is currently carrying out the final-stage negotiation to win the contract for 8 large oil tankers from the European shipowner with the value of $600m. If everything goes quickly, it is expected that the company will win the contract for FPSO with the value of $1.5bn from Sonangol, the state-owned oil company in Angola. A concerned person of the company said, "If the negotiation goes well, it will be possible for us to win contracts with the value of around $4bn this month alone."

Korean industry experts expect to have much better conditions in regard to the price competition with the Chinese shipyards from now on, since the Chinese government abandons the fixed foreign exchange rate policy and shows the movement of appreciation for yuan. (according to Asiasic)

Meanwhile, some people say that it is still to early to have optimistic ideas, since the financial crisis from the southern Europe still remains. Also, the major shipowners from the US, Europe and Middle East are not likely to place a large amount of new orders like they did in the past.

It is still analyzed that the foreign shipowners could cancel their contracts for the construction of new vessels or request the delays of deliveries. Also, due to the shortage of orders last year, the amounts of the middle- and the long-term debts have increased at shipbuilders and the financial situation has become worsened.

» China new orders soar 10 times
» Korea took 51.5% of global orders: Q1
» Korea takes 43.6% of global orders