Korea to remain number one

Korean shipbuilding industries will maintain its dominance until at least 2015 with a world market share of 40% according to Korea Institute For Industrial Economics & Trade (KIET) at the seminar held by Korea Shipbuilders’ Association on 15 September.

KIET expects that Korean shipbuilders will complete 16.7 million GT in 2015 valued at $17 billion. The market share of high value ships will increase with 65% in LNG carriers, 55 to 60% in tankers and 80% in container ships.

Regarding competitiveness with Japan and China in 2015, KIET claims that Korea will be ahead of Japan in almost all sectors such as ship design, ship development, productivity, marketing and delivery while maintaining an advantage of 10 to 20% over China.