China Encroaching on World Shipbuilding Market.
A survey reveals that China is ranked as the third largest shipbuilding nation in the world, competing with Korea in the VLCC field and heavy container market, showing that China has already encroached on the share of Korean shipbuilding in those markets.
According to the release entitled ‘Growth of Chinese Shipbuilding and Competing Fields with Korea’ on March 27, conducted by the Evaluation Institute for Korean Business Environment, the share of Korea the VLCC field declined by 56.8% in 2001 and 42.6% in 2005.
In addition, compared with Japanese shipbuilding, the share of China in the world shipbuilding market increased from 6.8% to 21.3%, up 14.5%, whereas that of Japan was only up 0.2% from 36.4% to 36.2%. This means that the growth of the Chinese world shipbuilding industry doesn’t encroach into the Japanese market, but into the Korean market.
The institute forecasts that due to the dramatic Chinese growth, the dominant position of Korean shipbuilding in the VLCC field will be weakened. Domestic companies building VLCC ships are listed as Hyundai Heavy Industry, Daewoo Shipbuilding, Samsung Heavy Industry, and Hyundai Samho Heavy Industry.
Other than the VLCC field, the growth rate of Chinese shipbuilding in mega-sized container ships was up 5.4% in 2003. However, the growth rate of Korean shipbuilding in the over-8000 TFE ships in the world market reached 87.1% in 2003, but down 21.4% in 2005 due to the double attack of China and Japan.
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 / 입력시간: 2006. 03.28. 14:17
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