SEOUL, Oct. 2 (Korea Bizwire) — A flurry of new liquefied natural gas (LNG) projects worldwide is fueling expectations of a rebound in orders for LNG carriers, a sector where South Korean shipbuilders hold a commanding lead. Yet analysts warn that years of heavy contracting may leave the market vulnerable to another downturn. According to [...]
SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s mid-sized shipbuilding sector is sliding toward collapse, even as opportunities for U.S.-Korea cooperation in naval and commercial shipbuilding expand under initiatives such as the MASGA project, a new report warns. According to a study released Sunday by the Korea Eximbank’s Overseas Economic Research Institute, orders secured by [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korean shipbuilders lagged far behind their Chinese rivals in new global orders to place second worldwide in August amid sinking demand, industry data showed Wednesday. Local shipyards won a combined 270,000 compensated gross tons (CGTs) in new orders last month, accounting for 13 percent of the global total [...]
SEOUL, June 13 (Korea Bizwire) — South Korean shipyards are making various efforts to attract foreign workers in response to a shortage of manpower. The nation’s shipbuilding industry is expected to face a shortage of approximately 13,000 production workers in the third quarter of this year, according to the Korea Offshore & Shipbuilding Association. HD [...]
SEOUL, June 7 (Korea Bizwire) — South Korean shipbuilders fell far behind their Chinese rivals in new global orders to place second worldwide in May amid sinking demand, industry data showed Wednesday. Local shipyards won a combined 510,000 compensated gross tons (CGTs) in new orders last month, accounting for 25 percent of the global total [...]
SEOUL, May 12 (Korea Bizwire) — South Korean steelmakers are at odds with local shipyards over the price hike of thick steel plates used for shipbuilding, industry sources said Friday. Industry leader POSCO and other steelmakers are pushing for hike prices of 6 millimeter or thicker plates, citing soaring iron ore costs and electricity rates [...]
SEOUL, May 9 (Korea Bizwire) — South Korean shipyards lagged far behind their Chinese rivals in terms of new global orders to place second in the world in April amid plunging demand, industry data showed Tuesday. Local shipbuilders clinched a combined 380,000 compensated gross tons (CGTs) in new orders last month, taking up 20 percent [...]
SEOUL, Feb. 7 (Korea Bizwire) – South Korean shipbuilders lagged far behind their Chinese rivals in terms of new global orders to rank second in the world in February amid tumbling demand, industry data showed Tuesday. Local shipbuilders won a combined 640,000 compensated gross tons (CGTs) in new orders last month, accounting for 33 percent [...]
SEOUL, Feb. 5 (Korea Bizwire) — More than 2,000 foreign workers will be hired by South Korean shipyards this month in a measure to help resolve an acute workforce shortage, according to the Ministry of Justice and the Ministry of Trade, Industry and Energy on Sunday. The government issued E-7 and E-9 visas for the [...]
SEOUL, Jan. 10 (Korea Bizwire) — South Korean shipbuilders saw their global market share edge up in 2022 from a year earlier despite decreased new orders, industry data showed Tuesday. Local shipyards clinched a combined 16.27 million compensated gross tons (CGTs) in new orders last year, or 38 percent of the global total of 42.78 [...]