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| South Korea orders and shipyard status in 2011 |
According to the Ministry of Knowledge Economy and the Korea Shipbuilders' Association recently, it plans that 11 major domestic shipbuilding companies set as a target of 54 billion dollars orders in 2012 and pursue aggressive orders.
In fact, because the uncertainty about the global economic recovery as well as the direction of the evolution of the financial crisis of Europe is still expected to be higher and atrophy situation of the glut of vessels and ship financing is existed, the industry predicts a decrease in the world orders volume. Already Clarkson expected that the order volume decrease by approximately 9.7% compared to 2011, and in spite of overall economic recovery and the alleviation of the financial crisis in the shipbuilding market, already saturated vessels quote would require some time to the improvement of the situation. 
Just with the prediction for a continuation of high oil prices and increased natural gas demand due to Japan earthquake, large-scale development projects for marine resources are being pursued actively and then, marine plant and LNG carriers is estimated to continue for orders.
As a result, the domestic shipbuilding companies having excellent technology addition to marine plant and LNG vessels, again in 2012 were anticipated to remain the world's No. 1 for orders and the goal of the marine plant projects about domestic shipbuilders leads to 18.5 billion dollars for domestic orders, and it is expected that marine plants will tow a large role. 
I. Korea's major shipyards in 2011, overall orders and order backlog
In 2011, the domestic shipbuilding industry was awarded to 48.2 percent of the world's marine order volumes (approximately 14.89 million CGT): Of them FPSO (1 ship, 0.68 hundred million U.S. dollars), LNG-FPSO (1 ship, 24.1 hundred million U.S. dollars), LNG-FSRU (4 ships, 10.6 billion dollars) were awarded a total volume, drillship 77% (26 ships, 142.2 ten hundred million U.S. dollars ), LNG-ray 84% (38 ships, 77.2 hundred million U.S. dollars), 8,000 TEU container ships 74% (80 ships,107.6 ten hundred million U.S. dollars) and it has proven to be the world best in the field of high-value vessels and marine plants. Of course, the absolute weight basis, the domestic companies' share does not show a significant change since 1996, but the amount and these value-added basis, but it shows constantly rising from 18.0 percent in 1996 reflecting the CGT. Table1. The world new shipbuilding order rank by country in 2011 (CGT) ■ Source: Clarkson, World Shipyard Monitor Table2. New order and orderbook of South Korea shipbuilders in 2011 ■ Source: Each shipbuilders (Note: Company of the A, B, C, D order, - If table is not answer) Table3. The order status of Korean shipbuilders in 2011 ■ Source: Clarkson, World Shipyard Monitor(Note: Company of the A, B, C, D order) Table4. New Order Status South Korea shipbuilders (Based on January 19, 2012) ■ Source: Press each of provided by shipping companies (Note: Sales Status of the domestic shipbuilding industry is to deploy the status of orders for each shipping companies based in the public offering from the monthly "Marine and Shipbuilding” and it may be somewhat different to the monthly Clarkson, World Shipyard Monitor data) Table5. The world's shipbuilding Orderbook (CGT) rank in 2011 (1~128) ■ Source: Clarkson, World Shipyard Monitor |
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II. Korea's major shipbuilders in 2011 and 2012
1. The main performances of the Korea Shipbuilders' Association's members 
Korea Shipbuilders 'Association said recently, according to data from the Korea Shipbuilders' Association members, the total orders has increased to 11.63 million CGT in 2011 of 42.6% (CGT basis) compared to the previous year (see Table 6). In 2010, for 320 ships and in 2011, for 266 ships, where 2011 is less compared with 2010, but when viewed in CGT basis of approximately 42.6% rise it is considered to be due to high-value ship orders.
Table 7 shows this situation. When looking the orders by the type of ship, it has less percentage at the tanker and bulker orders, but container ship is increased by approximately two times compared to in 2010. And LNG carriers in 2011 also has won 41 ships that there was not a single order in 2010. (See table 8). Table6. Order trend ■ Source: The Korea Shipbuilders' Association Table7. Order by ship type ■ Source: The Korea Shipbuilders' Association (Note: TK in the COT, PC, CT include) Table8. Building Trend ■ Source: The Korea Shipbuilders' Association Table9. Building by ship type ■ Source: The Korea Shipbuilders' Association (Note: TK in the COT, PC, CT include) On the other hand, looking at Table 8, total constructions of members in 2011 is 426 ships, 13.56 million CGT which is the value having been increased approximately 6.8% compared to 2010. By ship types, container is 103 vessels, 4.79 million CGT that is a total of proportion accounted for approximately 35.4% showing the highest. And then, tanker follows to 132 ships, 3.49 million CGT, and bulker 121, 2.54 million CGT respectively (see Table 9). According to the Korea Shipbuilders' Association it announced the order backlog in the end of 2011 is 33.32 million CGT which is the value being reduced by 3.6% over the previous year (see Table 10). It’s considered that this is due to the occurrence of delivery delay and the cancelled due to the recession as mentioned earlier. In Table 11, backlog per types include 280 containerships, 13.53 million CGT, which has accounted for 40.6% of the total, and after that, it follows 270 tankers, 744 million CGT, and 223 bulkers, 4.55 million CGT for the order backlog. 2. Monthly "Marine and Shipbuilding” surveyed the domestic shipbuilding in 2011 and 2012 
(1) Daewoo Shipbuilding and Marine Engineering
Daewoo Shipbuilding said the following for 2010 and 2011 order lists. In 2011, for general merchant ship, 38 ships and 73.6 billion dollars, with approximately 49.8% of the total, for special ship, 3 ships and 1.1 billion dollars with approximately 7.4%, for marine plants, 11 sets and 63.2 billion dollars, accounting for approximately 42.8%. Accordingly, in 2011 it showed total 52 ships and 14.8 billion dollars. 2011 quarter sales of Daewoo Shipbuilding & Marine Engineering recorded the total revenue of KRW 9,068,5 billion won having net income of KRW 6,769 billion won. It was not officially published yet for the goal of total orders in 2012, but just last December 24, 2011, CEO Nam Sang Tae said that in a meeting with reporters, it would be approximately 11 billion dollars, the same degree with in 2011. Daewoo Shipbuilding & Marine, as high oil prices trend again in 2012 from the marine plant sector expected to continue said that continuous marine division orders is predicted with a focus of oil major. Especially, the arctic products are expected to achieve mainstream that is operable in frigid polar environment and since the Gulf oil spill, with the increases of the demand for the product being safe more, the existing facility is likely to be replaced with enhanced product having better technical specifications. 
(2) Hyundai Heavy Industries
Hyundai Heavy Industries, including Samho Heavy Industry mentioned the order of 83 ships, approximately 20.1 billion dollarsand it noted that the company's overall new Orders is still difficult to say precisely. It announced that 2012 total contract is 30.5 billion dollars of which shipbuilding and marine plant sector is set to 23.6 billion dollars. 
(3) STX Shipbuilding and Marine Engineering
STX said that new Orders of the group in 2011 is the 8.2 billion dollars. Unfortunately, new Orders in 2011 has none for the marine plant sector. Because it was somewhat poor in 2012 order, it took the target of 150 billion dollars as marine plant projects to make every effort to achieve the plans. In particular, even though it were the expected order of last year, it did not finish the project and there might be some good news in the near future. 
(4) Sungdong Shipbuilding and Marine Engineering
Sungdong Shipbuilding & Marine Engineering has not been organized for the exact plan, and said that new orders in 2011 is 35 ships, approximately 2.3 billion dollars. Especially in the field of marine in 2011, the order of Shuttle Tanker 2 ships and FSO 1 set can be the greatest significance to take the first step of the maritime industry. ■ References ． Clarkson, World Shipyard Monitor ． The Korea Shipbuilders' Association ． Daewoo S.B. |
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