Orders for ships hit a new high in 1st Q

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2006-04-19 14:37

Seoul--(뉴스와이어)--Korea's shipbuilders won orders for ships worth a record USD$ 12 billion in the first quarter of 2006, an increase of 34% from a year earlier, according to the Ministry of Commerce, Industry and Energy (MOCIE).

During the period, the country's dockyards secured orders for 136 ships (4.92 million compensated gross tons) as ship owners rushed to place orders before the common structural rule takes effect in April 1, 2006. The rule requires shipbuilders to make the hull and other parts of ships thicker, thus raising the prices of ships.

Under the rule, prices of bulkers and oil tankers were estimated to increase by 3-5% and by over 7%, respectively. As a result, orders for oil tankers skyrocketed by 300% in the first three months of this year.

In the first quarter, the country got orders for 23 high value-added vessels including 14 LNG carriers, compared with 5 vessels last year.

In addition, the country's shipyards are expected to earn high profits thanks to a rise in prices of ships. The ship prices sharply increased by 12.9% year-on-year as most of the orders were for expensive high value-added vessels.

웹사이트: http://www.mocie.go.kr

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