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Shipbuilding and Scrapping
Industry-watchers like to use a number of metrics to gauge the health of shipping. The Baltic Dry Index is one; the world idle fleet another. Here we take a look at another indicator: the orderbook – or, more precisely, shipyards, which are in the frontline of any improvements or declines in industry health. Shipyards are in a precarious position. A strong orderbook should be good for business; more ships mean more work. But too many orders can tip the fleet balance into a glut and, as we have seen for the past seven years at least, that can lead to a prolonged curtailment of orders. It is a vicious cycle that gets repeated again and again.
Move might take a toll on South Korean shipbuilders that have yet to recover from the financial woe
Activity in main shipping sectors still at a historically low level
Booming global LNG trades to bring business opportunities in building tankers and offshore units
South Korean yards being challenged by Chinese builders backed by government financing
Regulations, digitalisation and weak markets will mean even greater dependency on class
Is Cosco poised to challenge European lines’ dominance of container shipping?
Termination of Beijing’s scrap-and-build scheme could prompt Chinese owners and scrapyards to interact more with international markets
About 75% of the Export-Import Bank of Korea’s non-performing loans come from shipping and shipbuilding firms
Italian group leading by example with investments in a new class of ultra-clean ro-ro ferries
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Algoma looks for extension to decide on replacement contracts at the Yanzijiang shipyard in China
The orders, if they materialise, will send OOIL’s 20,000-teu class fleet to 12 units, enough to allow the company to independently form a loop on Asia-Europe trade
Low-sulphur regulations will push up demolition ahead of 2020, but a large idle fleet will still put pressure on carriers
The yard is also seeking buyers to take over three other newbuildings cancelled by a shipowner owing to delivery delays
SDTR Marine is 60% owned by China’s Shandong Shipping and 40% by Singapore’s Transcenden Global Pte
HHIC-Phil reportedly had $1.3bn of outstanding debts, borrowed from Filipino banks and South Korean lenders
Focus on logistics instead of fleet size could ease supply-demand imbalance
The year is starting out quite well for South Korean companies with DSME also announcing an order for four VLCC newbuildings from an Oceanian shipper
Newbuild prices have been rising along with new materials amid tightening space at yards
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