Creating Blue Ocean With Offshore Platforms
Riding the wave of offshore supremacy, the order volume secured by Korean shipbuilders in 2012 reached about US$30 billion, according to Clarkson's data.
Korean shipyards reconfirmed their global competitiveness particularly in the fields of offshore plants and high value-added ships by winning 73% of the world's LNG carrier orders (24 ships, about US$4.9 billion) and 67% of drillship orders (26 ships, about US$9.3 billion).
Among the two units each of LNG-FPSO and FPSO (about US$770 million/unit) ordered throughout the world in 2012, Korean shipbuilders clinched one of each and also won all four units of LNG-FSRUs (about US$1.2 billion) ordered last year.
The market scale of the global offshore equipment industry exceeded US$150 billion in 2012 and is projected to continue strong annual average growth of 7% for the next 20 years.
This year, Korea’s enthusiasm for the offshore sector is expected to heat up even further as major shipyards, including Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME), have established a combined order-securing target of US$58.8 billion in which the offshore sector has taken the lion’s share.
Under this changing industrial landscape, domestic marine equipment companies are turning increasingly to production of equipment and materials for offshore plants. A survey conducted by the Leading Industry Development Support Corps for Southeastern Economic Region in June last year on 1,000 marine equipment companies based in the region found that about 300 companies (30%) were manufacturing and supplying single-product-type or module-type offshore plant equipment and materials, although the scales differed.