In order to secure more deals and achieve their set goals this year, over 120 ships have been recycled in the third quarter of 2019.
According to a report by No Shipbreaking Platform , about 73 ships were sold to the beaches of South Asia for dirty and dangerous breaking, amid several fatalities .
However, the three big shipbuilders are scrambling to secure more deals to overcome a series of sceptical outlooks on their 2019 earnings , as the end of the year nears.
The three shipbuilders are Daewoo Shipbuilding & Marine Engineering (DSME ), Hyundai Heavy Industries (HHI) , and Samsung Heavy Industries ( SHI) .
According to industry sources , the three shipbuilders are receiving a growing number of orders since the third quarter of the year . Among them, SHI is drawing attention to clinching a series of big deals.
SHI said Thursday, it inked a deal worth 485. 3 billion won ($ 405 million) to build two 174, 000 -cubic meter liquefied natural gas ( LNG) carriers for Malaysia International Shipping Corporation.
The latest order came after its Tuesday announcement that the shipyard also signed a 1 . 1 trillion won worth of order to build six 23 , 000 – twenty -foot equivalent unit ( TEU) container ships from Taiwan ’ s shipping company Evergreen Line . The 23, 000 -TEU container ship will be the world ’s largest container ship when it is built .
With these two orders, SHI has clinched deals for 37 vessels valued at a combined $ 5 . 4 billion so far this year , achieving 69 per cent of its annual order target of $ 7 . 8 billion. The figure is higher than the remaining two Korean shipyards.
HHI also said it has achieved 48 per cent of the shipyard ’s yearly order target , with its latest deal worth 676 . 6 billion won with the Defence Acquisition Programme Administration (DAPA ) , to build a next -generation Aegis destroyer of the Korean Navy.
DSME also announced a series of its recent deals with the DAPA to design and build a 3 ,000 -ton submarine . The order is worth 1 .11 trillion won.
DSME has achieved 51 per cent of its annual sales target .
Despite a series of deals they inked at home and abroad , experts said it will be difficult for them to reach 100 per cent of their annual sales target .
“ Ship companies are discouraged by a series of global regulations on emission, ” an official said.
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