South Korean shipbuilders are expecting to win large-sized newbuilding bulkers, while Korea East-West Power Co. (EWP) is now inviting bidders for chartering two newbuildings.
It seems that Korean-invested overseas yard has secured for one newbuilding, raising concerns among domestically-located Korean yards.
EWP has been launching tenders for two bulkers, respectively, a bid for 180,000-dwt has closed on February 21st and the deadline for 208,000-dwt turns out to be on March 6th.
The two bulkers can be both newbuilding and secondhand vessel, however, the rumor is that Korean-invested yard in China or the Philippines has been chosen to build 180,000-dwt, thanks to its lower newbuilding price, by 10-20%.
Meanwhile, as for the second bidding for 208,000-dwt, one of Korean shipbuilders is expected to win the contract, as the bidding is proceeded on "Newbuilding constructed by Domestic yard" basis.
As it is known that the bidding specifies "Korean yard", the 208,000-dwt is expected to be awarded to Korea-located yard.
Market player said, "Korean shipbuilders are facing hardships by depressed orders for newbuilding commercial ship, however, it would be undesirable that newbuilding project promoted by the public corporation goes to overseas yard, just because of lower price."
"We hope that Korean yards would win the newbuildings," he added.
It seems that the Korean government should take a rapid measure for Korea-located yards to secure the newbuildings in order to promote national interests.