Mega mergers in South Korea and China will create two behemoths controlling around 46% of the global market among the world’s top 10 shipyards
By Costas Paris Aug. 1, 2019 6:00 am ET Mega shipyard mergers in South Korea and China are forging a new reality in the industrial sector that underpins the global shipping industry.
Shipbuilding is a vital part of the economies in Asian countries such as South Korea and China, employing hundreds of thousands of people. It is one of South Korea’s flagship industries, accounting for 7% of the nation’s exports and 5% of employment. “The market share, especially on some ship types, is totally dominant,” said Basil Karatzas, chief executive of New York-based Karatzas Marine Advisors & Co. “That’s bad news for owners that now have less than a handful of yards to choose from and they can no longer play them against each other.”
if { function loadCSS{function d{for;t?o.media=n||"all":setTimeout}var o=window.document.createElement,a=t||window.document.getElementsByTagName[0],i=window.document.styleSheets;return o.rel="stylesheet",o.href=e.trim,o.media="only x",a.parentNode.appendChild,d,o}window.loadCSS=loadCSS; } /* 4u Graphics Standalone */ @media all and { body.template-standalone:not .g-show-4u { display: block !important; max-width: 300px; } body.template-standalone:not .
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SKorea says NKorea has fired unidentified projectilesSEOUL, South Korea (AP) — South Korea says North Korea has fired several unidentified projectiles off its east coast. South Korea's Joint Chiefs of Staff says the launches were done...
Read more »
North Korea launches projectiles: South Korea militaryNorth Korea has fired multiple unidentified projectiles, South Korea says. Seoul says its military is on alert for further launches.
Read more »
South Korea seeks $350 million trade sanctions against U.S.South Korea is seeking an annual $350 million in trade sanctions against the Uni...
Read more »
Pompeo hopes to help patch up Japan-South Korea tiesU.S. Secretary of State Mike Pompeo said he would encourage the two biggest U.S....
Read more »
Japan-South Korea Tensions Are Eroding Security In Northeast AsiaDomestic polarization and political self-interest that dominate decision-making in Japan and South Korea render the current round of tensions between the two nations qualitatively different from previous incidents.
Read more »
Japan-South Korea dispute may be good news for memory chip pricesIf Japan takes away special trade privileges from South Korea, Samsung could be forced to look for alternative suppliers for its memory chips and that could give prices a boost, says Mark Newman from Sanford C. Bernstein.
Read more »