South Korean Shipbuilders’ Order Backlogs Continuing to Increase
The combined order intake of the three major South Korean shipbuilders totaled US$34.58 billion on Sept. 15, surpassing their order goals for this year of US$30.4 billion.
The shipbuilders have achieved an outstanding performance despite unfavorable business conditions such as rising raw material and thick plate prices.
Korea Shipbuilding & Offshore Engineering, whose goal for this year is US$14.9 billion, already reached US$15.2 billion in July and reached US$19.4 billion on Sep. 15. The orders it received this year include 64 container carrier and 12 very large crude carrier orders along with five tanker, 36 petrochemical product carrier, 29 LNG carrier and 48 LPG carrier orders.
Daewoo Shipbuilding & Marine Engineering, whose goal for this year is US$7.7 billion, surpassed it by a margin of four percent on Sep. 14 by winning four LNG carrier orders. The orders it currently has include 16 container carrier, 11 very large crude carrier, two offshore plant, nine very large LPG carrier and six LNG carrier orders. Its current order backlog amounts to US$22.2 billion.
The current track record of Samsung Heavy Industries is US$7.1 billion, 78 percent of its goal for this year. It received nine LNG carrier, 38 container carrier and seven oil tanker orders this year.
According to Clarksons Research, the total order placement in the industry for the first eight months of this year is 32.39 million CGT, 42 percent of it went to South Korean shipbuilders, the new orders include 38 for LNG carriers with a capacity of at least 140,000 cubic meters each, and no less than 37 out of the 38 went to them.
Source: Business Korea