A recent investment bank report paints a bright 2012 for South Korea’s big three shipbuilders and their offshore prospects, Seatrade Asia online reports. Woori Investment & Securities maintains Hyundai, Samsung and Daewoo could win between US$12-13bn in offshore orders next year, down 16% on this year but still a very creditable performance while other yards in the region struggle for any orders. Woori observed the growing importance of offshore to Korea’s big three. From 2007 to 2010 offshore orders made up 36% of their total orders.
“However, they are now in progress of becoming offshore-specialised manufacturers, offshore sector taking 69% and 68% in 2011 and 2012 each," Woori noted.
“However, they are now in progress of becoming offshore-specialised manufacturers, offshore sector taking 69% and 68% in 2011 and 2012 each," Woori noted.