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Maritime Offshore Market Snapshot

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Maritime Offshore Market Snapshot Maritime Offshore Market Snapshot South-Korea Index 1. Major shipyards, vessel types, business potential 2. Main ship design & engineering companies, concept design companies EPC’s 3. Major marine engine, propulsion and machinery manufacturers, major machine workshops 4. Major Marine dealers, agents, consultants 5. Big Turn Key Contractors 6. Shipbuilding Associations 7. Shipowners 8. Oil and Gas companies 9. Big Projects 2 2/17/2017 © Finpro 1. Top Korean shipyards (Summary) • As of 2013 Korea had some 80 shipbuilding companies. From these only nine (9) are major ones. From these three (3) are major global companies taking vast majority of the business. • Number of shipbuilding companies have been reducing due to difficult economic conditions. • Shipbuilding accounts for about 10% of Korean exports an 2% of value added. • Big majority of Koran shipbuilding companies are private (not listed). • Ownership structures are, in some cases, very complex and sister companies often spread outside of shipbuilding. • In 2015-2016 major shipbuilders have started to spin-off or sell non-core assets as response to difficult market conditions. • Korean shipbuilders have significant portion of high-value and large vessel orders globally. • Before 2010, all top-3 Korean shipbuilders ventured to high-margin offshore business, which turned unprofitable and finally brought heavy loses in 2015. • Year 2015 was difficult for shipbuilders globally, Koreans were not an exception. • Korean Shipbuilders’ experienced reduced sales of 20-30% through shipbuilding operations and in some cases 70% in offshore business. 3 2/17/2017 © Finpro 1. Top Korean shipyards (Top 15) Name Shipyard size Employees 1. Hyundai Heavy Industries Co., Ltd.(HHI) 6,081,000m2 63,000 N 2. Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) 4,900,000m2 39,000 N 3. Samsung Heavy Industries Co., Ltd. 4,000,000m2 28,000 N 4. Hyundai Samho Heavy Industries Co., Ltd.(HSHI) 3,300,000m2 12,619 N 5. Hanjin Heavy Industries Co., Ltd. – SUBIC 2,739,000m2 N/A N, R 6. Hyundai Heavy Industries Co., Ltd. (Gunsan) 2,098,000m2 3,750 N 7. Sungdong Shipbuilding & Marine Engineering Co., Ltd. 1,944,000m2 8,000 N 8. Hyundai-Vinashin Shipyard Co., Ltd. 1,000,000m2 5,000 N 9. STX Offshore & Shipbuilding Co., Ltd. 1,000,000m2 2,819 N 10. Hyundai Mipo Dockyard Co., Ltd. 716,955m2 13,509 N 11. SPP Shipbuilding Co., Ltd. (Sacheon) 310,000m2 2,800 N 12. Daehan Shipbuilding Co., Ltd. (DHSC) (DSME affiliate) 278,000m2 3,000 N 13. Hanjin Heavy Industries Co., Ltd. – Yeongdo 264,000m2 N/A N, R 14. Dae Sun Shipbuilding & Engineering Co., Ltd. 206,834m2 2,131 N, R 15. SPP Shipbuilding Co., Ltd. (Goseong) 100,000m2 1,500 N 4 2/17/2017 © Finpro 1. Top Korean shipyards (List of 37) 1. Dae Sun Shipbuilding & Engineering 12. SPP Shipbuilding Co., Ltd. (Goseong)27. K.S Yanase Industries Co., Ltd. Co., Ltd. 13. SPP Shipbuilding Co., Ltd. (Sacheon) 28. Korea Yanase TongYeong 2. Daehan Shipbuilding Co., Ltd. 14. STX Offshore & Shipbuilding Co., Shipbuilding Co., Ltd (DHSC) Ltd. 29. Master Marine Yachtbuilding Co., 3. Daewoo Shipbuilding & Marine 15. Sungdong Shipbuilding & Marine Ltd. Engineering Co., Ltd. (DSME) Engineering Co., Ltd. 30. Moonchang Shipbuilding Dockyard. 4. Hanjin Heavy Industries Co., Ltd. - 16. Asia Shipbuilding Co., Ltd. Ltd. SUBIC 17. Baikal Shipyard Co., Ltd. 31. Orient Shipyard Co., Ltd. 5. Hanjin Heavy Industries Co., Ltd. - 18. Bugwang Shipyard Co., Ltd. 32. Samho I&D Co., Ltd.(Nanpo Yeongdo Shipyard) 19. Chonhaiji S.B. Co., Ltd. 6. Hyundai Heavy Industries Co., 33. Samkwang Shipbuilding & 20. No.Dongbang Shipyard Co., Ltd. Ltd.(HHI) Engineering Co., Ltd. 21. Dongil Shipyard Co., Ltd. 7. Hyundai Heavy Industries Co., Ltd. 34. Shinan Heavy Industries Co., Ltd. (Gunsan) 22. Geumgang Shipbuilding Co., Ltd. (SHICO) 8. Hyundai Mipo Dockyard Co., Ltd. 23. HK Shipbuilding Co., Ltd.(HKS) 35. Yeosu Ocean Co., Ltd. 9. Hyundai Samho Heavy Industries 24. Hyundai Engineering & Steel 36. YeunSoo Shipbuilding Co., Ltd. (YSS) Co., Ltd.(HSHI) Industries Co., Ltd. 37. Yudal Shipbuilding Co., Ltd. 10. Hyundai-Vinashin Shipyard Co., Ltd. 25. J Y Dockyard Co., Ltd. 11. Samsung Heavy Industries Co., Ltd. 26. Jangbogo Shipyard Co., Ltd. 5 2/17/2017 © Finpro 1. Top Korean shipyards (Locations) Seoul HHI Gunsan SPP HHI SUNGDONG HMD HSHI Busan Ulsan DHSC STX SHI Busan HHIC Gojae DAE SUN DSME 6 2/17/2017 © Finpro Hyundai Heavy Industries Co., Ltd. Offshore & Industrial plant & Engine & Electro Electric Construction Ship building Green Energy Engineering Engineering Machinery systems Equipment Web-site www.hyundaiheavy.com Location Ulsan – South-Korea (Gundan and Vinashin Shipyard) Ownership Chung Mong-joon (10%), Korean Pension Service (4.7%), KCC 4%) Container Ship , Tankers/Product Carriers, Shuttle Tankers, Bulk Carriers, LNG Carriers/FSRUs, Type of ships LPG Carriers, Drillships/Drill Rigs, Ropax Pure Car Carriers, OBO Carriers, Naval Ships, Offshore Support Vessels Company Established 1972 information Contact information N/A – Too complex to describe here Business potential All main ship parts; main equipment and machinery, major electronic equipment, navigation for Finnish suppliers systems, propulsion and engines. © 2/17/2017 7 Finpro Daewoo Shipbuilding & Marine Engineering Ship building & Plant Energy Offshore Web-site http://www.samsungshi.com/ Location Gojae Island – South-Korea KDB – Korea Development Bank (49.7%), Financial Supervisory Commission (12.2%), Minority Ownership shareholders (48.71%) FPSOs, FPUs, LNG&LPG Carriers, Ro-Paxs, TIVs (Turbine Installation Vessels), Drillships, LNG RVs, FSRUs, Crude Oil tankers, Product carriers, Type of ships Semi –Submersible Rigs, LNG FPSOs (FLNGs), Submarines, Fixed Platforms, Containerships/ PCTCs, Bulk carriers, Destroyers/Battleships, Chemical Tankers/Shuttle Tankers Company Established 1973 information Contact information N/A – Too complex to describe here Business potential All main ship parts; main equipment and machinery, major electronic equipment, navigation for Finnish suppliers systems, propulsion and engines. © 2/17/2017 8 Finpro Samsung Heavy Industries Co., Ltd. Machinery & Technology Ship building Electric system development Web-site http://www.samsungshi.com/ Location Gojae Island – South-Korea Samsung Electronics (17.6%), Samsung Life Insurance (3.4%), Samsung Electric (2.4%), Samsug Ownership SDI (1.4%) Drillships, Semi-Submersible Rigs, LNG RV/FSRUs, Shuttle Tankers, FPSOs/FSOs, FSUs, Type of ships FPUs/TLPs, LNGCs, Chemical tankers, Industrial Vessels (FDS) Platforms, Crude Oil tankers, Containers, WTIVs, LNG-FPSOs, Product carriers Company Established 1974 information Contact information N/A – Too complex to describe here Business potential All main ship parts; main equipment and machinery, major electronic equipment, navigation for Finnish suppliers systems, propulsion and engines. © 2/17/2017 9 Finpro Hyundai Samho Heavy Industries Co., Ltd. Crane & Bulk Ocean & Ship building Product R&D Handling Instruments Web-site http://www.hshi.co.kr/ Location Mokpo – South-Korea Ownership HHI (over 94.92%) Tankers, VLCC, Product Carriers, Chemical Tankers, Container Ships, LNG/LPG Carriers, Ro-Ro Type of ships Ships, PCTCs, FPSOs/FPUs, Drillships, S/S Rigs Bulk Carriers,, Other Vessels Company Established 1992 information Contact information N/A – Too complex to describe here Business potential All main ship parts; main equipment and machinery, major electronic equipment, navigation for Finnish suppliers systems, propulsion and engines. © 2/17/2017 10 Finpro HANJIN HEAVY INDUSTRIES CO., LTD. Ship building Power & Heating Energy Construction Web-site http://www.hanjinsc.com/ Location Busan – South-Korea Ownership Cho Nam-ho (46.50%), Shinyoung Asset Management (6.11%) Container Carriers, Product Carriers, Chemical Carriers, Crude Carriers, Oil Tankers, LNG/LPG Type of ships Carriers, Cable Ships, Supply Boats, Semi-Submersible Drilling Rigs, Dredgers, Naval Ships, Special Purpose Ships, Bulk Carriers, Ice Breakers Company Established 1937 information Contact information N/A – Too complex to describe here Business potential All main ship parts; main equipment and machinery, major electronic equipment, navigation for Finnish suppliers systems, propulsion and engines. Arctic solutions and Icebreaker solutions. © 2/17/2017 11 Finpro SUNGDONG Shipbuilding & Marine Engineering Ship building Web-site http://www.isungdong.com/ Location Tongyeong – South-Korea Ownership N/A FSOs, Containerships, Shuttle tankers, Product carriers, Crude oil tankers, Bulk carriers, Purse Type of ships seiners Company Established 2001 information Contact information N/A – Too complex to describe here Business potential Solutions especially for mid-size commercial vessels, deep-sea fishing vessels and specialty for Finnish suppliers vessels. © 2/17/2017 12 Finpro STX Offshore & Shipbuilding CO., LTD. Ship building Offshore Web-site http://www.stxons.com/ Location Jinhae – South-Korea Korea Development Bank (39.59%), Woori bank (14.97%) NH Bank (10.07%), Shinhan Bank Ownership (5.92%) Tankers, Product Carriers, Chemical Tankers, LNG Carriers, LPG Carriers, Container Ships, Bulk Type of ships Carriers, Floating Storage & Production, Naval Ships Company Established 1967 information Contact information N/A – Too complex to describe here Business potential All main ship parts; main equipment and machinery, major electronic equipment, navigation for Finnish suppliers systems, propulsion and engines. – HEAVY FINANCIAL ISSUES! © 2/17/2017 13 Finpro Hyundai Mipo Dockyard Co., Ltd.
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