Relatively in Good Condition
According to data from Clarksons Research, Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries respectively ranked first to third in terms of order backlog as of the end of December last year. The order backlogs of the three companies were 5.638 million CGT (79 ships), 4.101 million CGT (84 ships) and 2.842 million CGT (54 ships), respectively.
They were followed by Shanghai Waigaoqiao Shipbuilding (2.516 million CGT), Jiangsu New Yangzi Shipbuilding (2.379 million CGT) and Imabari Shipbuilding Saijo Yard (1.758 million CGT). Hyundai Mipo Dockyard (1.374 million CGT) came in 11th and Hyundai Samho Heavy Industries (1.26 million CGT) ranked 13th.
The top three companies maintained their rankings one year ago and one month ago, too. Still, the backlogs are on the decline in Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries. At the end of 2016, Daewoo Shipbuilding & Marine Engineering recorded a backlog of 6.551 million CGT, followed by Samsung Heavy Industries (3.744 million CGT) and Hyundai Heavy Industries (3.457 million CGT). Last year, however, the amount decreased by 913,000 CGT for Daewoo Shipbuilding & Marine Engineering and by 902,000 CGT for Samsung Heavy Industries while that of Hyundai Heavy Industries increased by 644,000 CGT.
Fortunately, though, the three companies are signing new contracts one after another these days. For example, Hyundai Heavy Industries recently signed a US$220 million contract for three very large LPG carriers (VLLCs) with Kuwait Oil Tanker Company (KOTC). Samsung Heavy Industries is planning to deliver Egina, the largest floating production, storage and offloading (FPSO) facility in the world, in the second half of this year as scheduled. Daewoo Shipbuilding & Marine Engineering is about to conclude a new contract early next month.