While small-and-medium shipyards around the world undergo a huge restructuring amid depression of global shipbuilding market, those from South Korea, being able to survive, will meet a rosy future.
President Kwak Han-Jeong of SPP Shipbuilding said, "If they survive in medium-sized shipbuilding market, their future would be bright for the next ten years."
President Kwak emphasized that he is sure SPP will see a turn-around point from the end of 2012 to early 2013, although the toughest time seems to continue until late this year.
SPP is said to contract for medium-sized newbuildings in comparatively higher price than average market price, due to fuel efficiency, eco-friendly technologies, special coating, etc.
As it would take at least ten years for Chinese shipyards to compete against SPP, the future for surviving medium-sized Korean yards like SPP would welcome a bright future going forward, he added.