Due to lower operating profits and edgy macro economy, 2012 saw shipbuilders' stakes stay below the market consensus, however, next year the shares will be restored as European financial market is expected to be stabilized.
Product Carrier segment is making a turnaround with oversupplied tonnages being eased and LNG carrier is predicted to have consistent newbuilding demand, in preparation for scaled up LNG production during 2015-2019.
Sung Gi-Jong, analyst in KDB Daewoo Securities said "Major shipyards will meet increasing orders after the first quarter of 2013 and they will see earnings and cash flow turnarounds facing towards the second half."
However, he expected newbuilding competition would become more intensified, saying "Low pricing is inevitable by shortage of orderbook."
Analyst Lee Jae-Won of Dongyang Securities said "Offshore market will have a steady tone in 2013 as well. Particularly, offshore production facility market is prospected to grow as even more as it follows drillship cycle."