SHIPPING AND MARITIME TRANSPORT 2012-2013 - ANAVE June 2012 | Page 16

SHIPBUILDING
accounted for 28.8% of total CGT ordered. Japan obtained 17.8% of the contracted CGT, with an increase of 7.1%. The shipyards in the EU-27 achieved 6.3% of new contracts in CGT, a figure similar to that of 2011 (+0.2%). Spanish shipyards got 0.4% of new contracts in CGT (about 108,000 CGT) in 2 ferries and 25 vessels for various uses (tugs, off-shore supply, platform supply, live fish transportation, fisheries and oceanographic research). Prices of new constructions fell between 5 and 10%, depending on the ship type, size and shipyard country. The weakness of demand, lack of funding, the decline in prices in the second hand market and shipyards overcapacity have been some of the factors that have led to this situation, but also influenced the decline in steel prices. As an example, for one Aframax tanker built in Korea, just the lower steel prices produced savings of about $ 8 million. Also engine prices fell, due to competition between manufacturers, for example in Korea and China, to about $ 185/BHP or even lower. In any case, according to Platou, in 2012, many yards have had to accept prices below their building cost to ensure workload, while others reduced their production gradually and finally refrained from building certain types of ships, as it was the case of bulk carriers in Korea. BRS-Alphaliner estimated that in 2013 about 125 million dwt of new ships will be delivered, but that this will be the last year with such high levels of delivery. For 2014, and taking account the expected levels of
Thousand GT

scrapping that will possibly reach 50-60 million dwt, could start declining the oversupply. However, for 2013, with forecasts to continuity of very low freight, often below operating costs, new orders are expected to continue in very low figures.
NEW ORDERS IN SPANISH SHIPYARDS
Source: Gerencia del Sector Naval

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Shipbuilding