South Korea's Big three shipbuilders are busy to win new orders from the beginning of the New Year.

Sources said that Hyundai Heavy Industries recorded its first New Year's contract for one 84,000-cbm LPG carrier (VLGC) from Indonesia's state-owned oil company Pertamina, in January.

On 16 January, Samsung Heavy Industries announced that the letter of agreement for central processing facility with INPEX of Japan took effect.

The contract is worth about KRW 2.6trn ($2.29bn), the largest amount among same-type plant and it would reach about KRW 3trn after adding up additional equipments to be confirmed at final contract signing.

Daewoo Shipbuilding & Marine Engineering also inked a fresh order in 2012 for four VLCCs and one aframax PC, totalling about $560m, from state-owned Kuwait Oil Tanker Company (KOTC) on 30 January.

Market player said, "New order competition among shipbuilders would grow fiercer, as 2012 would see overall orders reduced. If Big three well overcome the recent crisis, they are likely to further dominate global market in the future."

'Survival' is the big thing in global shipbuilders this year. Chinese builders, many of which facing with liquidation problem, strive through lack of orderbook with super-low margin contract.

Starting with M&A between Universal Shipbuilding and IHIMU, Japanese yards push forward restructuring and the government and shipbuilders intend to secure orders by providing shipbuilding technical skills to yards in Southeast Asia.