Offshore Business Booming
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

MCU-Coatings is a global leading manufacturer of moisture cured urethane marine, protective and industrial coatings. MCU-Coatings have proven to outperform 2 component epoxy coating and polyurethane paint in many ways.

Chalmers Lindholmen - School of Maritime Studies
GMDSS - Education and Examination for ROC and GOC Certificates.

California Maritime Academy
A California State University of Engineering, Business and Transportation Studies. Offers undergraduate degrees and continuing education. Careers in maritime and engineering industries are available. Officer commissioning in the military also.
    USA California

IBC Asia (S) Pte Ltd (A Division of Informa Plc)
IBC has been providing extremely successful events over the last 30 years. IBC provides leading conferences, seminars and training courses, with over 50,000 customers benefiting from our services worldwide.

Offshore Business Booming


A swell in the energy industry's demand for offshore facilities is buoying South Korea's world leading shipbuilders as they navigate a slowdown in their main business. The world's top three yards -- all South Korean -- expect to garner a combined $4.3 billion of offshore orders this year, about 15 percent of the global market and twice the orders they won in 2001. The market for offshore engineering is on a steep rise as fast depleting land energy reserves drive oil majors like ExxonMobil to increasingly explore untapped seabed.

As the focus has shifted to floating facilities from fixed ones, Korean shipbuilders have been able to move ahead of engineering companies like Aker (AMA) of Norway and Switzerland's ABB in tenders for offshore projects. What's more, oil majors are appointing Korean shipbuilders as their main contractors, letting them handle an offshore project from design to installation and test-runs.As a result, the proportion of offshore business for Korean shipbuilders will increase to about 30 percent in 2002 from 10 to 20 percent in 2001. While the offshore orders will offset the reduction in shipbuilding contracts, it won't fatten the bottom line much -- the Korean companies are focusing on expanding market share at the expense of earnings. Operating profit margins of Korean shipbuilders range from near zero for top ranking Hyundai Heavy Industries to about 10 percent.  

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 .