Marine Log - June 2008 - (Page 40)

WORLDSHIPBUILDING 80 million dwt. Deliveries will thus increase from 80 million dwt in 2007 to 163 million dwt in 2010 with 25% growth in 2008; 46% in 2009; and 13% in 2010, assuming the orderbook is delivered on schedule. South Korea remains the number one shipbuilding nation, with a market share of 35% of CGT deliveries in 2007, compared with Japan’s 27%. China edged up to 18 % of deliveries, overtaking Europe for the first time.. However in 2007 Japan took only 8 % of contracts, while South Korea took 39%. China moved up to second place with 37% of the orders (30.3 million CGT). Europe followed on with 8% (6.3 million CGT), though Europe’s market share in value was 11%. Looking ahead, Stopford sees the orderbook suggesting shipyard production will surge from 34 million CGT in 2007 to 51 million CGT in 2010. South Korea is likely to remain the world’s biggest producer of ships, with deliveries scheduled to increase from 11.8 million CGT in 2007 to 19.6 million CGT in 2010, but if China succeeds in delivering all of its order-book on time, it will be not far behind with output increasing threefold from 6.2 million CGT in 2007 to 18.5 million CGT in 2010. Stopford says that rapid expansion has raised questions about technical performance of start up facilities; availability of management and skilled labor; equipment availability; and the availability of pre-delivery finance. Although any of these factors could result in delay or even cancellation of orders, it is impossible to assess their combined impact on the shipyard program. If the ambitious delivery schedule is achieved the world fleet will grow by 8-10 % per annum over the next three Shipbuilding has been through boom cycles before Source: Clarkson’s Research years and by the end of 2010 Clarksons expects the merchant fleet to reach 1,400 million deadweight tonnes. The big question then becomes whether there will be enough seaborne trade to require such a massive capacity. If not, expect the OECD Working Party on Shipbuilding to enjoy a new lease on life. ML 40 MARINE LOG JUNE 2008 YEARBOOK www.marinelog.com http://www.bainbridgeint.com http://www.bainbridgeint.com http://www.marinelog.com

Table of Contents Feed for the Digital Edition of Marine Log - June 2008

Marine Log - June 2008 Contents Editorial Second Thoughts Update Inside Washington Innovation Needed to Meet Crew Shortage Optimism Abounds Despite Slowing Economy Can Shipping's Shopaholics Keep Up the Buying Binge? Can Congress Keep Navy Shipbuilding Off the Rocks? Fitting the Ultra-deepwater Pieces Together Generation Next Higher Demand, Higher Prices Demand Up For Large Combination Vessels The Dirty Truth About Emissions SSAS: Realizing Its Potential Fuel Saving Technology Newsmakers Tech News Contracts Events Buyer's Guide Website Directory ML Marketplace Tech Talk

Marine Log - June 2008

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