Korean shipbuilders expect worldwide demand for newbuildings to be sustained at an average of 60M GT annually. In its forecast released today, the Korea Shipbuilders’ Association (Koshipa) has countered speculation in certain quarters that newbuilding demand would slump following an imminent glut of deliveries. Korea has a 35% share of the world newbuilding market, which is currently booming. Tankers and bulk carriers are expected to lead the surge until 2015, after which containers and LNG ships will be in greater demand. Koshipa is banking on continued growth in international trade to spur demand for new tonnage. Crude oil volumes carried by sea are expected to increase at the rate of 3.5% annually, with iron ore quantities anticipated to rise by five per cent. China will continue to drive iron ore demand, its share of the trade forecast to grow from 40% in 2005 to 65% in 2020. China has also become a net coal importer, Koshipa has pointed out. Annual growth in container volumes is expected to be at least eight per cent.
9:49 13 Sep
9:49 13 Sep