Global shipbuilding market is struggling, only a total of 999 newbuildings of a combined 39.9m dwt/18.8m cgt (Clarkson's data) having been contracted during the first 11 months of this year, plunged by 47% year-on-year, in dwt terms, the lowest record since 1999.
Amid difficulties, Korea's medium-to-large shipbuilders turn out to have put up a good fight and focused on winning orders for high-value vessels, such as MR PCs, PCTCs, etc.
STX Offshore & Shipbuilding, including STX Europe and STX Dalian, aggressively aimed to win a total of $15bn for this year, while the group actually inked $8.8bn (118 vessels), attaining 59% of the target. Meanwhile, STX-affiliated shipyards contracted a variety of vessels this year, for example, MR PC, car carrier, bulker, mid-to-large boxship, as well as LNG carrier, LPG carrier, drillship, FSO, shuttle tanker, offshore supply vessel, cruise ships, etc.
Hyundai Mipo Dockyard has almost attained its $3.2bn of new order target for this year. Hyundai Mipo has contracted MR PC, LPG carrier, car carrier, platform supply vessel, etc., and an official from the shipyard said "New order record has come close to original target value."
SPP Shipbuilding aimed $1.8bn for 2012 and it presented a remarkable performance by having contracted 40 PCs, among others. It has penned overall about $1.4bn of orders, which accounting for 78% of the target. Considering its 40-45 vessels of yearly capacity, SPP has added orders for another year amid market stagnancy.
Samjin Shipbuilding, located in Weihai, China, set up $1bn new order target for this year and has contracted a total of 26 vessels, $850m, majorly for PCTC, small-sized tanker, etc.
Sungdong Shipbuilding & Marine Engineering has recorded overall 16 vessels totalling $800m and won orders for shuttle tanker, purse seiner, etc.
Dae Sun Shipbuilding & Engineering originally aimed at $600m earlier this year, however, considering market difficulties, it down adjusted to $150m. After winning four MR PCs, one small-sized boxship, etc., it attained the revised target, after all.
Meanwhile, Daehan Shipbuilding, having been under consignment management from Daewoo Shipbuilding & Marine Engineering since July 2011, has no new orders contracted by itself, but now it is constructing newbuildings consigned by Daewoo.