South Korean and global shipbuilding, shipping industries had smoothly sailed owing to China factor in the past. Then, what can be a 'key word' for the present and future?
Analyst Lee Sok-Je, a shipbuilding market specialist, answered the question, saying "It is 'Fuel Efficiency'!" 
It explains all recent trends of the market, such as owners' preference for Korean shipyards, gap in owners' profits under the same rates, global discussions over environmental regulations, etc.
'China' had been the key word for shipbuilding and shipping market rally over the past seven to eight years. For the next 10-15 years, 'fuel efficiency' would determine the market.
He said that there is a quite big difference in the ship price between those made in China and in Korea - around 20% in newbuilding market and 30% in secondhand market. The decisive factor is fuel efficiency. About 10% gap in fuel efficiency leads to 20-30% gap in pricing.
When carbon tax issue is discussed and oil price increases, the gap will grow bigger, which represents Chinese shipyards would be more difficult to make profits.
Also, shipowners have recently showed preference for Korean yards. Around 85% of overall newbuilding orders for product carrier have been concentrated on three of Korean shipyards in the last couple of years. This proves that Korean shipbuilders have no competitors in building fuel-efficient vessels.
Lee emphasized that it is a matter of time for 'fuel efficiency' to become a top priority issue in the industry.