shipyard Archives | Be Korea-savvy
Chinese Shipyards Dominate Global Orders as Korean Shipbuilders Focus on High-Value Projects

Chinese Shipyards Dominate Global Orders as Korean Shipbuilders Focus on High-Value Projects

SEOUL, Jan. 27 (Korea Bizwire) —  In 2024, seven of the world’s top 10 shipbuilders by order volume were Chinese, reflecting a shift in global shipbuilding dynamics as Chinese shipyards capitalized on volume-based strategies, according to data released on January 26 by UK-based Clarkson Research. The top four shipyards—New Times Shipbuilding, Hudong-Zhonghua Shipbuilding, Yangzijiang Shipbuilding, and [...]

S. Korean Shipyards Anticipate Greater U.S. Biz Opportunities after Trump’s Call for Cooperation

S. Korean Shipyards Anticipate Greater U.S. Biz Opportunities after Trump’s Call for Cooperation

SEOUL, Nov. 14 (Korea Bizwire) — South Korean shipyards appear upbeat over potential opportunities to expand their business in America after U.S. President-elect Donald Trump’s call for more bilateral cooperation in the sector. In his phone conversation with South Korean President Yoon Suk Yeol following his election victory last week, Trump said the U.S. seeks to work [...]

S. Korean Shipyards Outpace Chinese Rivals in April New Orders

S. Korean Shipyards Outpace Chinese Rivals in April New Orders

SEOUL, May 10 (Korea Bizwire) – South Korean shipyards came in first in terms of new orders secured in April, with their order backlog continuing to slip, industry data showed on Wednesday.  According to the data compiled by global research firm Clarkson Research Institute, Korean shipyards clinched new orders worth a combined 340,000 compensated gross [...]

Hyundai Heavy Trims Order Target amid Protracted Slump

Hyundai Heavy Trims Order Target amid Protracted Slump

SEOUL, Nov. 18 (Korea Bizwire) – Hyundai Heavy Industries Co., a major shipyard here, has cut its order target for the year, joining other smaller local rivals’ move to adjust their annual order targets amid a protracted slump, industry sources said Friday.  According to the sources, Hyundai Heavy revised down its order target to US$9.49 [...]

Offshore Facilities Turn Out Loss-making Business for Korean Shipbuilders

Offshore Facilities Turn Out Loss-making Business for Korean Shipbuilders

SEOUL, July 29 (Korea Bizwire) – South Korea’s major shipbuilders, led by Hyundai Heavy Industries Co., logged worse-than-expected losses in the second quarter, largely due to the delivery of low-priced ships and a delay in the construction of loss-making offshore facilities, data showed Wednesday. The country’s big three shipyards racked up a combined loss of [...]