“Regarding new order and orderbook, Chinese shipbuilders are placed at a competitive disadvantage compared to Korean and Japanese builders,” said Park Mu-Hyun, an analyst at E*Trade Securities of Korea.

He said that in terms of orderbook by country, China exceeds its rivals, Korea and Japan, however, as for orderbook by shipyard, Korea secures 34 vessels of a combined 2.82mDWT, Japan stands on 13 vessels of 980,000DWT and China has 12 vessels of 700,000DWT. According to Park, there are 23 shipyards in Korea, while 56 in Japan and 157 in China.

Considering orderbook by each shipyard, Park said that Hyundai Mipo Dockyard of Korea secured the largest orderbook of 128 vessels and also stressed that a shipyard with bigger orderbook is more excellent one.

The analyst also pointed out that for the past three years, Japan has moved further ahead of China in terms of new order record by shipyard.

He added that, “New order perspective is the most important factor in shipbuilding industry.” “China, especially, has shown to leave behind Korea and Japan in competition for commercial ship. Also, serious delivery delays seen from Chinese shipyards lead us to a conclusion that Korean shipbuilding industry is the most positive in gaining new orders."

Source from Asiasis Daily News