South Korea's top yards at 13-year order backlog low
The big three South Korean shipyards' combined orderbook has reached its lowest level in 13 years, and analysts predict that the yards will have difficulty securing major contracts going forward.
BY DANIEL LOGAN BERG-MUNCH
South Korea's three major yards - Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries - are currently struggling due to the low interest in new vessels in a market plagued by overcapacity and carriers with weak finances.
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