Long-term plate demand to weaken in South Korea on 20% drop in shipbuilding orders

摘要

Main shipyards in Korea lowered their order expectations by 20% for 2016. Worsened outlook will depress sales andproduction of steel plate in the long term.Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co.,Korea’s major shipbuilders, are expecting to get orders worth of some $37 billion this year compared to $47 billion in2015 as a decrease in oil prices will continue. This year, Hyundai Heavy is targeting orders worth $16.7 billion (down12.6% from last year), Daewoo Shipbuilding $10 billion (down 23%), Samsung Heavy $10 billion (down 33%).