ShippingWatch

Korean yards under pressure from P3

The rise of container alliances will disrupt the balance between supply and demand among container carriers and Korean shipyards, says Asiasis.

Photo: Maersk Line

One might think that the P3 alliance and its competitors - CKYHE and G6 - would be good news for the Korean shipyards, but that is not the case, says Asiasis. By forming joint vessel purchases, the alliances could put pressure on the yards.

"Normally, newbuilding contracts are signed led by shipowners. With P3 suggesting joint vessel purchases and so on, there will be the owners' greater negotiation power on the contract. This will bring a hard hit to Korean shipbuilders as current balance between supply and demand will be broken," says Korean attorney Kim Sung-Man.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

One alternative fuel may be particularly dangerous

In a new study – which Maersk, Shell, Euronav and MSC Ship Management, among others, are behind – the new alternative fuels are ranked based on how dangerous they are. The industry has to be careful with one of them, in particular.

Further reading

Related articles

Latest news

See all jobs