News / Shipyards must look to niche markets as overcapacity shreds orderbooks

A depressing picture of the global ship building industry was painted by executives at an international summit of major shipyards in South Korea this week.

The home nation’s top three – Hyundai Heavy Industries Co (HHI), Daewoo Shipbuilding & Marine Engineering Co (DSME) and Samsung Heavy Industries Co (SHI) – collectively lost Won8.5tn ($7.5bn) in 2015 and are ramping up cost-cutting efforts as new orders fall well short of targets.

And the country is bracing for mass redundancies and lay-offs in its ...