South Korean major shipbuilders fare well on surge of LNG carrier orders
Yonhap reported that South Korea’s major shipyards have shown decent performances this year on the back of a surge in orders to build LNG carriers. For the year up to Thursday, 52 orders for LNG carriers were received by local entities, with Hyundai Heavy Industries Co. bagging the largest figure, or 25 orders, followed by 14 orders for Daewoo Shipbuilding and Marine Engineering Co. and 13 for Samsung Heavy Industries Co. This is nearly five times larger than the figure for last year, when they secured orders for a mere 11 LNG ships.
The South Korean firms accounted for 86 percent of the total orders for LNG carriers in the world so far this year, according to the data from industry tracker Clarkson Research Institute. The remaining nine orders were obtained by firms from China, Singapore and Japan.
According to experts, thanks to the increased orders, the three major players are forecast to achieve their yearly goals. Hyundai secured orders for 146 ships this year, amounting to USD 12.5 billion. It aimed to win USD 13.2 billion in orders in 2018.
Daewoo reached around 83 percent of its yearly goal by securing USD 6.04 billion worth of orders, winning contacts to build 42 ships. Samsung received orders for 44 ships worth a combined $5.4 billon, though it has targeted USD 8.2 billion won in sales.
Bae Se-jin, an expert at Hyundai Motor Securities, said that “The global demand for LNG carriers is forecast to grow further for some time, thanks mainly to the proactive push for energy exports by the United States and China’s eco-friendly energy policy measures.”
Source : Yonhap