The Bank of Korea (BOK)'s South Kyungsang Province head office has developed a Shipbuilding Business Index (SBI).
BOK said on May 9, "Now we are judging the shipbuilding market from shipbuilding and shipping related indexes. This is possibly lead to confusion in grasping general changes in the situation."
Added, "We have developed a shipbuilding business index, which ables to apprehend the flow of shipbuilding market in short-and-long term."
SBI used overall 11 indicators as variables, such as fleet tonnage, demolition, orderbook, newbuilding price, BDI, OECD's composite leading indicators, Reuter's Index of commodity prices, international oil price (Dubai), S&P 500 Index, etc.
Also, it is divided into secular trend (long term) and circular variation (short term).
BOK plans to make a report on 'Recent shipbuilding market trend and its forecast' by using its SBI and distribute it to equipment manufacturers and shipbuilders, etc.