Korean Register sees growth offshore

Expressing concern about the decreasing number of new orders received in 2006-2009, Oh said: “It can be assumed that over the coming 10 years, the yearly average newbuilding order book will be less than that of the past 10 years. The demand for containers, tankers and LNG carriers will decrease, while the construction of offshore platforms will show strength in the market place owing to a high demand for energy, increased investment in the exploitation of oil and gas and higher oil prices. The increased demand for deep-sea crude oil and natural gas will also lead to heightened newbuilding activities for deep-sea oil platforms. The operational areas for these platforms will be mainly in Africa and the Gulf of Mexico”

Speaking at the fourth Seoul International Shipbuilding and Maritime Conference (SIMS) in Korea, Oh was joined by Oh-Yoon Kwon, general manager of the Korean Shipbuilders’ Association who reminded delegates that Korea has been the global leader in shipbuilding since 2002. He went on to say that although the markets were still uncertain, Korean shipbuilders had experienced a recovery in new orders during the first half of 2011. To assist with securing further new business, the yards were concentrating on innovation and maintaining top quality management.