Globally, 464 yards are scheduled to deliver a vessel in 2013 with 88% of deliveries scheduled to be made by yards in South Korea, China, and Japan. This month's Shipbuilding Focus takes a measure of how many yards from these major nations are scheduled to make a delivery in 2013 in comparison to the number of yards who delivered in 2012 and prior to the global delivery boom in 2006. Mega Size As illustrated by the Graph of the Month, South Korea's shipbuilding industry dominates the portion of yards that deliver 30+ ships per annum. In 2012, eight mega yards delivered 92% of South Korean built vessels, reflecting the consolidated nature of the country's shipbuilding industry. Whilst 15 South Korean yards made a delivery in 2012, 29% fewer than in 2006, the number of mega yards increased and the country's global proportion of mega yards rose to 67% from 57% in 2006. In 2013, more yards in South Korea are scheduled to deliver a ship, 17 in all. Although there is a fall in mega yards scheduled to make a delivery, this decline is compensated for by more yards scheduled to deliver less than 30 vessels. No yards are scheduled to deliver 6-10 vessels in 2013.
Middle of the Road
The majority of Japanese yards deliver 2-10 vessels p.a., whilst relatively few yards make one or 11+ deliveries p.a. In 2013, the total number of yards scheduled to deliver a vessel falls to 43 from 51 in 2012. This is due to a y-o-y fall in the number of yards scheduled to deliver just one vessel and 11+ vessels in 2013, with the majority of yards delivering 2-10 vessels again. However, the number of yards delivering 30+ vessels p.a. is scheduled to double to four yards in 2013, influenced by the well-publicized merger of I.H.I. and Universal.
More Up Top’
China has the most yards globally and represents 72% of yards located in the top three shipbuilding nations. Chinese yards typically deliver less than five vessels p.a, however, there is a growing proportion of yards delivering 11+ vessels p.a. Of the 192 yards that made a delivery in 2012, 64% and 20% output 1-5 and 11-30 vessels respectively whilst only two yards, STX Dalian and CSIC’s Dalian S.B., delivered 30+ vessels.
Whilst China will see the greatest growth in yards scheduled to deliver 11+ vessels in 2013, 21% fewer yards overall are scheduled to deliver a vessel y-o-y. This is due to a sharp drop in the number of smaller yards making a delivery in 2013, 30% fewer yards are scheduled to deliver less than five vessels y-o-y, as state support focuses on larger state-owned yards. This fall is not compensated for elsewhere.
Concentration
According to the current orderbook schedule, 47 fewer Chinese, Korean and Japanese yards are scheduled to deliver a vessel in 2013 than in 2012. This is mainly due to the withdrawal of Chinese yards. However, the proportion of yards scheduled to deliver 11+ ships is to rise from 24% in 2012 to 31% in 2013. Although each nation has its own story, a larger number of deliveries are scheduled to be made by significantly fewer yards in 2013, suggesting greater consolidation of the global shipbuilding industry.