Future shipbuilding industry market is forecasted to be bright.
Even though new order momentum slowed down, cycle of high-valued ships is still in a good condition and it will not take much time to eliminate shipbuilding-market uncertainties.
Researcher Lee Jae-Won, from Seoul-based Tong Yang Securities, explained on 15th, "Jan-July order intakes for Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering recorded $11.7bn (95.9% of annual target), $14.1bn (117.5%), $7.1bn (54.8%), each.
However, Hyundai Mipo Dockyard, STX Offshore & Shipbuilding and Hanjin Heavy Industries & Construction (Youngdo and Subic shipyards in Korea and Philippines) were slow in winning orders. Orders for these three are $1.1bn (33.5%), $1.2bn (28%) and $530m (35.3%) each."
He added, "Entering into Q3, South Korea's Big 3 are getting slower in new order momentum. However, Big 3 keep preferable positions as LNG carriers, drillships and other offshore facilities' market is active, except containership."
Lee examined that weathering Greece's financial crisis when and how would be a turning point for the business afterward, but it will not hit financial market and shipbuilding industry very hard.
And Lee estimated that upward trend of shipbuilders' performance will be lasted in Q2, and shipbuilding alone can easily reach Q1's outcome. Also, added, "Future market of shipbuilding is promising, as market for high-valued ships are still big and macro-variables, like financial crisis in Europe, are predicted to be settled."