Great photo as always Vlad,
i guess it was inevitable that Korean shipbuilding would be hit, unfortunately this time they dont have the offshore market to turn to. Will be interesting to see what happens to DSME and the like.

rgds
Andrew

Thanks for your comment, Frank!

I'd like to share your optimism, but the industry is in for a wild ride, and not in a good way. It is predicted that the new "normal" for Korea will be about half of what it was some years ago. This means that instead of 500 vessels per year, they will produce about 250. Still a significant number, but their present day capacity is tailored to the previous level of production, so it will have to be scaled down, with respective closing/downsizing of many yards, and laying off (in one way or another) 30-40% of the workforce.
Now for the good news: 20K+ TEU ultra large container vessels project at Samsung shipyard is on schedule, so you can expect some photos soon enough. :)

Cheers

Vlad

They may be down but they are not out, Vlad. Even you should know that. We are only half way through the year. The second half could be completly different. (I am not an expert and it seems to me that a lot of ship owners also).
Still the photo is another classic. Thanks you Vladimir. Green shipbuilding at its best.
Best regards Frank

Thanks, MattyBoy! :)

Cheers

Vlad

Splendid photo !

Next comes the demise of Korean shipbuilding. It's the "death throes" phase now.
...
Not kidding.
Last year end of June, number of new orders: 250.
This year: 27. Twenty seven.
Present day charter rates for container vessels do not allow neither ship owners nor builders to be profitable, and when you are billions of dollars in debt, like the Korean shipbuilders, it is not really advisable to take losing orders.

Cheers (not that there's anything to cheer about)

Vlad

Lappino,,any idea what comes next ? Another 20 x 22000 TEU ? As we have a shortage of containerships one might think so ?

Thanks, Jadran!
Poźz
Vlado

.... I especially like the 'composition' of this marvelous shot,, indeed a well done photo in overall, bravo Vlado! Pozz

Hi Roy, thanks for your comment.
I've taken the name from Jan's post, but I see now that it's probably TaurUs...
So, I will change the name.

Cheers

Vlad

Many thanks Vlad.
Very nice picture.
Will it be Tauros or Taurus?
Cheers,
Roy