Global Shipbuilding Market Report: 2012 Edition



Koncept Analytics

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The global shipbuilding industry is characterized by cyclic growth witnessing many crests and troughs since 1960s. The industry enjoyed a boom period from 2003-2007, while a sudden contraction was observed in the shipbuilding activities during 2008-2009 amid the severe economic and financial crisis, which engulfed the entire world. The market again collapsed in 2011 after a short stint of recovery in the prior year. The sluggish world shipbuilding market was reflective of weak economic fundamentals, eurozone debt crisis, and reduced availability of shipping loans. The shipbuilding outlook for 2012 appears bleak on account of continued volatility in the European capital markets, tighter ship financing, and continued fall in newbuilding prices.

Asian regions' dominance in the global shipbuilding market continues unabated. China led the market with the largest orderbook in 2011, while Korea reestablished its leadership position in newbuilding order activity. At the same time, the emerging regions of the world such as India, Vietnam, Brazil, the Philippines, and Turkey display enormous growth potential and are constantly striving to compete for a larger share in the global market. The shipbuilding industry manufactures a wide variety of vessels serving varied purposes, of which bulk carriers, tankers, and container ships form the major categories. While, the offshore and specialized vessels market is also fast expanding in response to rapidly changing market scenario.

The global shipbuilding market is undergoing massive structural changes on account of contraction in the newbuilding activity and the growing need for business diversification in favor of offshore/onshore plants, offshore support vessels, etc. Furthermore, the focus area of investments by the large financial institutions is shifting towards energy related businesses over commercial shipbuilding. Moreover, research and innovation is at the core of shipbuilding industry, with companies, across the globe, remain focused on introducing technologically advanced and eco-friendly products. Despite the unfavorable near term outlook, certain factors will prove to be growth catalysts for the global shipbuilding market, including increasing oil demand and rising natural gas consumption. Driven by the same, along with other factors, the global shipbuilding market is expected to resume growth from 2013 onwards.

The shipbuilding companies operate in a highly competitive environment with key factors responsible for competition being productivity and production range of shipyards, research and development capabilities, and the level of worker skill and competence, among others. The market is dominated by mainly Korean players, with Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, and Samsung Heavy Industries being the leading players, also referred as Korean Big-3.

The report analyzes the global shipbuilding market with focus on Europe, Korea, Japan and China. It also discusses the major growth drivers and challenges for the shipbuilding market. The report presents the competitive structure of the industry and profiles major players with a discussion of their key business strategies.
Table of Content

1. Overview
1.1 Shipbuilding: An Introduction
1.2 Shipbuilding Process
1.3 Ship Building Cycle

2. Global Shipbuilding Market
2.1 New Order Growth
2.2 New Building Prices
2.3 Cancellations
2.4 Deliveries
2.5 Regional Market Share

3. Shipbuilding Market - Regional Analysis
3.1 Major Markets
3.1.1 Europe
3.1.2 South Korea
3.1.3 Japan
3.1.4 China
3.2 Emerging Markets
3.2.1 India
3.2.2 Vietnam
3.2.3 Philippines
3.2.4 Brazil
3.2.5 Turkey

4. Shipbuilding Market - Segments Analysis
4.1 Tanker
4.1.1 Market Size
4.1.2 Market Outlook
4.2 Bulker
4.2.1 Market Size
4.2.2 Market Outlook
4.3 Container
4.3.1 Market Size
4.3.2 Market Outlook
4.4 LNG Carrier
4.4.1 Market Size
4.4.2 Market Outlook
4.5 Offshore and Other Vessels
4.5.1 Market Size
4.5.2 Market Outlook

5. Shipbuilding - Market Dynamics
5.1 Trends & Developments
5.1.1 Commencement of Second Phase of Restructuring
5.1.2 Plummeted Syndicated loans for Ship Financing
5.1.3 LNG FPSO Contacts: A boon for the Korean-Big 3
5.1.4 Shifting Focus of Large financial institutions towards Energy Sector
5.1.5 Persistent Weakness in Dry Bulk Sector
5.1.6 Membrane-Type Cargo Hold for LNG Carriers
5.2 Growth Drivers
5.2.1 World GDP Growth
5.2.2 Increase in Global Oil Demand
5.2.3 Growing Consumption of Natural Gas
5.3 Challenges
5.3.1 Contracted Ship Financing
5.3.2 Decline in Newbuilding Prices

6. Competitive Scenario
Competitive Overview
Market Share

7. Company Profiles
7.1 Hyundai Heavy Industries Co., Ltd.
Business Description
Key Financials
Business Strategies
Strategic Leadership in Ship-Building Realm
Focus on Reducing Emissions
7.2 Samsung Heavy Industries Co., Ltd.
Business Description
Key Financials
Business Strategies
Unparalleled Cost Competitiveness
Focus on Eco-Friendly Shipbuilding
7.3 Daewoo Shipbuilding and Marine Engineering Co., Ltd.
Business Description
Key Financials
Business Strategies
Focus on Research and Innovation
Strategic Partnerships
7.4 Mitsubishi Heavy Industries, Ltd.
Business Description
Key Financials
Business Strategies
Step Up Business Expansion
Consolidation of Business Segments

8. Global Market Outlook

Newbuilding Prices by Ship Types, 2009-June 2012
New orders Received by Key South Korean Shipbuilders, 2011-2012F
Turkeys Shipbuilding Exports, 2009-2011
Global GDP and World Trade Growth Forecasts (%), 2010-2013E
Competitive Advantages Offered by World Shipbuilding Companies
Korean Big-3 Market Share (%) in New Orders by Vessel Type, 2009-2013E
Details of New Orders YTD: Korean Big 3

Global New Shipbuilding Orders (in terms of CGT), 2005-2011
Global New Shipbuilding Orders (in terms of DWT), 2005-2011
Global Shipbuilding Completions and Orderbook, 2005-2011
Newbuilding Price Index, 2007-June 2012
Shipbuilding Order Cancellations, 2010-2011
Shipbuilding Order Cancellations in terms of DWT, 2010-2011
Deliveries in the Global Shipbuilding Market, 2008-2011
World Market Share in Global Shipbuilding Completions, 2011 
World Market Share in Global Shipbuilding Orderbook, 2011 
Europes Shipbuilding Activity, 2005-2011 
South Korean Shipbuilding Activity, 2005-2011
Shipbuilding Order Cancellations in South Korea, 2010-2011
Japans Shipbuilding Activity, 2005-2011
Newbuilding Deliveries from Japanese Shipyards, 2010-2011 
Japanese Export Ship Orders, May 2012-June 2012
Chinas Shipbuilding Activity, 2005-2011
Delivery Level in Chinas Shipbuilding Industry, 2009-2011
Shipbuilding Order Cancellations in China, 2011
Indian Shipyards Order Book, 2005-2011
Indian Shipbuilding and Ship Repair Industry Market Value, FY12-FY15F
Vietnam Shipyards Order Book, 2005-2011
The Philippines Shipyard Order Book, 2005-2011
Brazil Shipyards Order Book, 2005-2011
Turkey Shipyards Order Book, 2005-2011
Turkish Shipbuilding Industry Revenues, 2011 
New Orders, Backlog, and Deliveries of Tankers, 2005-2011
Tanker Newbuilding Orders and Prices Forecast, 2006-2013F
New Orders, Backlog, and Deliveries of Tankers, 2005-2011
Bulk Carrier Newbuilding Orders and Prices Forecast, 2006-2013F
New Orders, Backlog, and Deliveries of Containers, 2005-2011
Containership Newbuilding Orders and Prices Forecast, 2006-2013F
New Orders, Backlog, and Deliveries of LNG Carriers, 2005-2011
LNG Carrier Newbuilding Order and Price Forecast, 2010-2013F
New Orders, Backlog, and Deliveries of Offshore and Other Vessels, 2005-2011
Massive Restructuring of Korean and Chinese Shipbuilding Industries, 2008-2012
Syndicated Loan Trend in Global Ship Financing Market, Q107-Q112
Composition of Traditional Ship Financing 
Global Outlook of LNG FPSO Deployment, 2016F-2020F 
Current Status of LNG-FPSO Projects
The US syndicated Loan Trend by Industry, Q111-Q112
Dry Bulk Vessel Orderbook as % of Total Fleet, 2001-Q212 
Global Oil Demand Forecasts, 2003-2011E
Global Natural Gas Consumption, 2005-2011
Global Ship Financing Trend, 2002-2013F
Newbuilding Price Forecast, 2007-2013F
Orderbook Trend of Korean-Big 3 Shipbuilding Companies, 2000-2011
HHIs Revenues by Business Segments, 2010
HHIs Revenues and Net Income, 2007-2011
SHIs Revenues by Business Segments, 2011
SHIs Revenues and Net Income, 2007-2011
DSMEs Revenues by Business Segments, 2011
DSMEs Revenues and Net Income, 2007-2011
MHIs Revenues by Business Segments, 2012
MHIs Revenues and Net Income, 2008-2012
Global New Shipbuilding Order Forecast (in terms of CGT), 2007-2014F