It is prospected that global shipbuilding market is now showing signals of rebounding after bottoming out.
According to Yoo Jae-Hoon of Woori Investment & Securities, the market has turned for recovery with ship price beginning to pick up.
Till the end of this May, global cargo ship orders has increased by 71.9% in DWT while secondhand transactions rising by 32.6%. New orders for small & medium green ships show upturn and the price also on recovery.
According to Yoo Jae-Hoon, mega ship orders are still plain till now due to the weak shipping market and inadequate financing support. However, he thinks the sector will show slow recovery with S.Korean showing more advantage in low energy consumption to gain large ship orders.
In the past two years, speculative orders for LNG carriers boomed with abundant financing support. However, only 11 LNG carriers were order s from the beginning of this year. But Yoo Jae-Hoon says LNG carriers orders will pick up again in the second half with the expecting great demand for LNG transporting capacity after 2016.
Besides, Yoo Jae-Hoon says fixed drilling equipments and floating ocean facilities are likely to see growing demand.