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South Korean Shipyards Lagging Region, Figures Suggest

by Mary Swire, for LawAndTax-News.com, Hong Kong

28 June 2006


Figures released by UK-based market research firm Clarkson Plc on Monday appear to show South Korea lagging behind its regional rivals in terms of shipyard rankings by order backlogs.

According to the Asia Pulse news service, which reported on the findings, although seven South Korean shipyards occupied the top seven spots on the list, the country was far behind China and Japan in the numbers of shipyards occupying the top 50 slots, with nine to their fifteen each.

Separately, the seven leading South Korean shipbuilders recently revealed that they may be obliged to increase the cost of their ships this year, in order to counter rising costs and take advantage of a boom in orders.

In an interview with Bloomberg earlier this month, chief executive of Hyundai Samho Heavy Industries Co., Kang Soo Hyun warned that oil, mineral and container carrier prices may increase by 5% in 2006.


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