Finally, Some Good News for Shipyards

Issue 04-10-17   |   Reviewer:   Duane Helleloid, Ph.D.


Shipyards have cut over 20,000 jobs in the past year, due to a decrease in demand for ships as a result of lower oil prices and slowing Chinese economic growth. The world's largest shipbuilders are based in South Korea and Japan, although they serve customers worldwide.

Now there is a little flame of hope as rising electricity demand in India and China is leading to increased demand for clean energy production. Since liquefied natural gas burns much cleaner than oil or coal, demand for liquefied natural gas has created the need to get the gas from sources in the Americas to electricity generators in Asia.  

In the best position to build these ships are large Korean shipbuilders such as Daewoo and Hyundai, as well as Mitsubishi and Kawasaki.

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