Shipbuilding ‘Cloudy' in H2
Korea is suggested that industrial prospects are still dim for the second half of this year.
Particularly, struggling industries affected by protracted recession, such as construction, shipbuilding, steel, oil refining and petrochemical industries, are said to continue to be challenged in the second half of the year.
According to a survey ‘Industrial Weather Chart for H2 2013’ released on June 30, conducted by the Korea Chamber of Commerce & Industry, jointly with 10 organizations in different industrial classifications, five industries of oil refining, petrochemical, steel, shipbuilding and construction are forecasted to be ‘cloudy’.
For shipbuilding, it is said that the worst has been over in the first half this year, however, it looks difficult for the industry to escape the depression even in the second half.
When such vessels of very large containerships and LNG carriers won from 2010 to 2011, right before Eurozone crisis, are all delivered in the second half, total amount of export is expected to increase shortly by 33.5% from the first half. However, it seems too early to expect recovery in the industry, since orders are likely to decline affected by slow move in contract activity for LNG carrier and drillship and etc., while ship price increases might be seen after this year that .
As for steel industry, it is forecasted to be hampered by attacks from Chinese and Japanese rivals amid an oversupply situation.


