The South Korean shipbuilding industry continues to secure newbuilding orders at record-high prices. Analysts explain that the environmental regulations and the increasing cost of the yards' profit drivers are strengthening the barg..
The volume of product carrier (PC) orders reached a six-year high, but this doesn't seem to cause a supply and demand imbalance of vessels, according to an industry expert. Florence Wade-Smith an analyst from Clarksons Research s..
Demand for Suezmax tankers has been rapidly increasing. According to the UK-based ship broker Simpson Spence Young (SSY), industry experts seethat the volume of new Suexmax tankers seems to have been ordered to replace the demand for..
As the concerns regarding the LNG fuel supply infrastructure shortage grow, various resolutions such as enhancing the efficiency of the LNG Bunkering Vessel (LNGBV) fleet or adopting methanol are being proposed. According to industry..
Cool Company (CoolCo) based in Bermuda has recently advanced its view that up to 20 LNG carriers will be needed annually against the retirement of old steam turbine LNGCs. Richard Tyrrell CoolCo's chief executive said in a first-..
A promising future is anticipated in the Offshore Support Vessel (OSV) sector as a tight supply of vessels propels both demand and rates. However, experts warn that a vessel shortage might impact the offshore industry. At the recent ..
HD Korea Shipbuilding & Offshore Engineering's (HD KSOE's) strategy to focus on high-valued ships seems to pay off, achieving 65.3% of its annual order target. According to industry sources, HD KSOE secured a total of 79 ..
It is expected that Korean shipbuilders will enter the balance in the black from the second half of this year due to the continued rise in ship prices, and rising proportion of high-priced vessels. On May 22, Yoo Jae-sun, a researche..
The South Korean mid-sized shipyards are showing active performance in winning orders. Triggered by rising demand for the replacement of aging vessels, Korea's mid-sized shipbuilders like HSG Sungdong Shipbuilding, HJ Shipbuildin..
The newbuilding price in the shipbuilding industry is showing no signs of reduction as shipyards' backlog of orders is near its full capacity. According to Clarksons Research, the newbuilding price index has experienced a continu..