Shipbuilding industries is expected to keep struggling in the merchant ship segment this year.
Korean shipyards getting more difficult to win newbuilding orders, major shipyards targeting offshore-plant orders and small- and medium-sized shipbuilders are focusing on a few sizes or niche market.
Market players forecast that the amount of newbuildings contracted would slightly pick up this year, comparing with the previous year,however, commercial-ship ordering would not be recovered in full scale, due to tonnage oversupply and continued tightened financing.
Under these circumstances, large-size shipyards are hoping to win massive orders for energy-related ship/unit, including offshore plant and LNG carrier, etc. Local shipyards have strengths in the field, while mid- to long-term orderings for drillship and offshore production facility, etc., would maintain to stay strong, amid continued high oil prices.
Analyst Oh Sung-Kwon of Kyobo Securities said "Increase in investment for deep-sea resource development by global energy conglomerates would lead to orderings for offshore production facility and drillship, while growing demand for LNG would boost orderings for LNG carrier as well."