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With a total value of 19.3 billion and 22 orders, South Korean companies bet on China's shipbuilding industry?

author:90 companies

South Korea has always been a giant in the shipbuilding industry, and many Korean shipyards have previously won a large number of shipbuilding orders around the world. However, with the upgrading and transformation of China's manufacturing, the performance in the field of high-end manufacturing has become more and more outstanding, and it has also achieved a lot of development in the shipbuilding industry.

With a total value of 19.3 billion and 22 orders, South Korean companies bet on China's shipbuilding industry?

What people did not expect is that under the rapid development of the level and scale of China's shipbuilding industry, even South Korea, the giant of the shipbuilding industry, has many companies that choose to hand over shipbuilding orders to Chinese companies instead of South Korean shipyards. Judging from the latest public news, Chinese shipyards once again won 5.4 billion international orders.

Some time ago, Qatar once came up with an order for 100 gas carriers, which were divided into several batches and tendered separately. In order to get more orders and regain their influence in the shipbuilding industry, Korean shipbuilders have even offered orders that are lower than the international average manufacturing cost.

This also allows South Korea's shipbuilding industry to return to the world's number one position in the first quarter of 2024. Now, in order to consolidate its position and market influence in the shipbuilding industry, South Korea has even come up with trillions of won in subsidies. But what people didn't expect was that just recently, the South Korean media "The Guru" reported that the logistics company under the South Korean Hyundai Motor Group ordered 6 car carriers that can load 10,800 small cars from China Guangzhou Shipyard International in one go.

With a total value of 19.3 billion and 22 orders, South Korean companies bet on China's shipbuilding industry?

Judging from the public information, the total cost of this order is as high as 750 million US dollars, equivalent to about 5.4 billion yuan. There is no doubt that as a well-known enterprise in South Korea, the logistics company under Hyundai Motor Group does not choose to hand over orders to Korean shipyards, but chooses to hand them over to Chinese enterprises, which is enough to show that the technical level of China's shipbuilding industry has been recognized by Hyundai Motor Group and even many enterprises around the world.

In fact, judging from the previous news, the logistics company ordered 4 car carriers from Chinese shipyards as early as the beginning of this year, and it is also an LNG dual-fuel version, and the total cost of this order is close to 3.5 billion yuan.

In fact, these orders are only some of the orders that Chinese shipyards have received from South Korean companies, and if you look at the global scale, the number of orders received by Chinese shipyards is even larger, and the mainland has been the world's largest shipbuilding exporter for 11 consecutive months.

With a total value of 19.3 billion and 22 orders, South Korean companies bet on China's shipbuilding industry?

You must know that before 2020, South Korea was the giant in the shipbuilding industry, and it had become the largest country in the shipbuilding industry for three consecutive years, and the share of LNG ships in the global market exceeded 80%.

There is no doubt that behind the growing order scale of China's shipbuilding industry, in fact, is the rapid development of China's shipbuilding technology. It is not only a rapid expansion in terms of production capacity, but also a rapid development in the field of technical level, especially the continental ship engine, the technical level has reached the international top.

Many ship engine models in mainland China have reached the international leading level, and their performance in fuel efficiency and power is very good. Previously, after South Korean shipyards won a large number of orders for LNG natural gas carriers in Qatar, they did not choose domestic ship engines, but chose Chinese-made engines.

With a total value of 19.3 billion and 22 orders, South Korean companies bet on China's shipbuilding industry?

According to the data released by the British professional research agency, among the new global shipbuilding orders in 2023, South Korea will get a total of 10.01 million tons, accounting for 24%, while the mainland will get a total of 24.46 million tons, accounting for 59%. Judging from this data, the level of the mainland's shipbuilding industry has not only completed the overtaking in the corner, but also reached the level of "far ahead".

Not only that, in 2023, Continental also delivered the world's largest ultra-large LNG carrier, and its technical level in large-scale shipbuilding has been rapidly improved, winning a number of global firsts, and has been recognized and ordered by many countries.

In contrast, South Korea's shipbuilding industry is now facing a variety of serious problems, including a lack of production capacity, a shortage of labor, and a series of reasons such as slow development of technology. Even if the South Korean government comes up with a huge amount of subsidy funds, it will still be difficult to change the current bad situation of the Korean shipbuilding industry.

In particular, the Korean shipbuilding industry is currently experiencing a large shortage of labor, and even though it has begun to use foreign labor on a large scale, there is still a large labor shortage. Under such circumstances, it is very difficult for the South Korean shipbuilding industry to continue to catch up with China and regain its advantage in the field of shipbuilding, and even many American and Western media are not optimistic about the development of the South Korean shipbuilding industry.

With a total value of 19.3 billion and 22 orders, South Korean companies bet on China's shipbuilding industry?

In fact, it is not only in the field of shipbuilding that China has begun to overtake in corners, but also in many large-scale equipment and industrial products, China's development is very rapid. For example, driven by the rapid development of the new energy vehicle industry chain, China will become the world's largest automobile manufacturer and exporter in 2023.

With the C919 large aircraft put into commercial flight, China has gradually built a complete industrial chain in the field of civil aviation large aircraft manufacturing, and the scale of production capacity has been continuously improved. In addition, there are shield machines, large lifting equipment, heavy trucks and other fields, China's development is also very rapid.

These are undoubtedly proving the rapid development of China's manufacturing and excellent results in the field of high-end manufacturing.

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