Fuel-efficient eco-friendly vessel is an optimal choice during recent days with high oil price and existing older tonnages will be replaced.
Analyst Park Mu-Hyun of E*Trade Securities in Korea said high oil price has an effect on commercial ship market as well as offshore drilling/production segment and added "demand for fuel-efficient ship has started to grow."
He said "Amid weak shipping market and high oil prices, global leading shipping companies have started to develop an optimized new design and place orders at Korean shipyards, since 2011."
He explained recently profit gap between Maersk, which has already begun investment in eco-friendly vessels since ten years ago, and domestic shipyards grows bigger recently.
Park forecasted "In general, high oil prices will be locked up for a while. Therefore, Eco ships will eventually replace all older tonnages."