In 2018, Orders for Marine Steel Plates in South Korea Will drop below 3 million tons

    Recently, Hana Financial Investment Co. Ltd. announced its forecast of 2018 global shipbuilding orders. The report shows that next year the global shipbuilding orders will grow by more than 50%, but South Korea's domestic shipbuilding orders will be reduced by 27%, shipbuilding orders will therefore be down to 3 million tons.

    In particular, the report notes that the fuel restrictions implemented since 2020 will result in a substantial increase in the demand for shipbuilding of LNG (liquefied natural gas) ships.

    In addition, the increase of plate supply this year is mainly digested by industries other than shipbuilding, however, it is not certain whether the increase of plate supply next year will still be digested. Distributors expressed concern: "Although the consumption of non-shipbuilding steel plate will slightly increase next year, the increase of supply will make sales in 2018 more difficult."