The Korean shipbuilding industry is recovering gradually from the global recession. In 2017 and 2018, the order volume also increased, and it succeeded in winning the first place in the global order from China.
Record of Big 3 Shipbuilding companies in Korea
In 2018, Hyundai Heavy Industries won a total of 161 vessels worth US $ 13.7 billion. 25 vessels for LNG carriers, 15 for LPG carriers, 64 for tankers and 50 for containerships, and succeeded in receiving offshore plant orders in four years. Daewoo Shipbuilding & Marine Engineering has won a total of 18 LNG carriers, the third highest in history. Samsung Heavy Industries received orders for six LNG carriers during the month of December and received a total of 18 LNG carriers for the year.
Worldwide orders in 2018 occupy 86%
Major shipbuilders of Korea showed strong performance in LNG shipbuilding orders as their global LNG shipments increased and the order volume increased as well, due to its technological and competitive edge. Korean shipbuilders won orders for 86% of LNG carriers ordered in 2018 from around the world. Demand for LNG carriers is also expected to increase as shipbuilders of global shipping companies have to wait for ship replacement.
It is worth noting that Korea, which prefers LNG carriers, will be the winner of the global shipping market in 2019.