Increased newbuilding activity at Korean yards creates demand for innovative solutions supporting the yards in meeting sustainable production. NME will be present at Kormarine 22-25 October 2019 with a Team Norway pavilion. As per today we only have 24m2 free space at the pavilion, this is a good sign of the interest among Norwegian suppliers in being present and to be competitive in gaining newbuilding contracts.
Some market insight from Korean yards:
1. The biggest trend in today’s marketplace is influenced by environmental issues that strict domestic environmental regulations has forced major Korean shipyards to consider eco-friendly products.
2. Global environmental regulations have also influenced demand of new ships or environmental-friendly ships that gives more opportunities to Korean shipbuilders.
3. LNG has been spotlighted as a clean energy that LNG supplies are expected to play an increasingly important role in meeting global gas demands.
4. Strong market signals with more order of LNG vessels have been indicated and expected that Korean shipyards have taken a very strong position in LNG shipbuilding market.
5. China, Russia and Northern Europe have been developing the Northern Sea Route because of approx. 40% ~ 60% shorter distance against the ordinary routines so as to create substantial reductions in transportation time, fuel consumption, environmental emission and eliminates piracy risks. That will increase demands of ‘Ice Going and Breaking vessels’ which high quality and performance are required that Korean shipyards will be one of the main beneficiary.
6. Construction capacity is around 390 vessels
If you want your company to benefit and take part in this increased activity, sign up for the pavilion at Kormarine before all space is sold out! For more information about the Team Norway pavilion, see the full invitation below. You can also sign up by clicking on the button below.