Koreans Take Aim at Cruise-Ship Construction
Advertise Here
Trending Topics:
Sunday, June 14, 2015

Ship Equipment
Ship Maintenance
Ship Systems
Worldwide Metric
Freeman Marine
Neptune Group

Home Page
About MarineTalk
Buyer's Guide
World InfoDesk
Discussion Forums
Advisory Board
Advertising Information
Submit Company Listing
Edit Company Listing
Site Map
MarineTalk Site Search:
Featured Companies

VDMA - Marine and Offshore Equipment Industries is a special division of the well-known non-profit organization VDMA (German Machinery and Plant Manufacturers Association) with member companies from a variety of sectors.

Masson Marine, formely ZF Masson and SEE Renk, provide a complete range of marine gearboxes and controlable pitch propellers, from 1000 to 5000 HP.

Marine Machinery Association
The Marine Machinery Association is the trade association that serves the interests of the American vendor community to the world's shipyards.
    USA Virginia

Mercy Ships United Kingdom
Mercy Ships operates ocean-going vessels to bring physical and spiritual healing to the poor and needy around the world. Mercy Ships serves nations through medical care, relief, community development, training and evangelism.
    United Kingdom

Koreans Take Aim at Cruise-Ship Construction


Korea's shipbuilding companies are trying to establish themselves in the field of cruise ship construction, an area still largely dominated by European builders. Samsung Heavy Industries, Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering have been preparing themselves for an uphill battle against the four established European companies. Daewoo Shipbuilding and Hyundai Heavy have already built passenger vessels for European owners while Samsung Heavy is currently working on a passenger ship for the Netherlands' Norfolk Shipbuilding & Drydock Corp.

Korean shipbuilders expect to get almost double their current rates once they establish themselves in the industry. While an oil tanker normally earns its builders $800 per ton, an 110,000-ton cruise ship will bring in $450 million, more than $4,000 per ton. As lucrative as the business is, however, entering the market may be equally challenging. According to the Association of European Shipbuilders and Shiprepairers, a quartet of Europe-based shipbuilders has maintained a combined 84-percent market share since 2002. Italy's Fincantieri leads with 34 percent, followed by Kvaerner Masa-Yards of Finland at 20 percent, and Germany's Meyer Werft and France's Atlantic Container Line, both with 15 percent. The industry is also fraught with risk. Japanese shipbuilder Mitsubishi Heavy Industries attempted cruise ship construction in the early 90s, but ended up nearly $100 billion in debt. Korea's shipbuilders, nevertheless, are far from being discouraged.

JoongAng Daily  

You may also like:
Trending Technology, World Shipping & Maritime News

Latest Marine News and Technology Articles | Maritime 2015 Buyer's Guide


E-mail:  Contact Us

Copyright 1998 - 2015 MarineTalk
Division of Link Internet Business Solutions
All rights reserved.

The reproduction, retrieval, copying or transmission of this Web site content,
in whole or in part, is not permitted without the express permission of
MarineTalk .