Feature 5 | SOUTH KOREAN SHIPBUILDING Drillships offer a bit of comfort
As ship orders have stalled, more South Korean shipbuilders are chasing potential business in the offshore market, and specifically the drillship market. But how many shipbuilders can such a niche market support?
to realise the impact global recession is having on ship ordering patterns. New orders placed in 2009 in the year to the end of April with the world’s largest shipbuilder, HHI, added up to zero, compared to US$6.7 billion in the equivalent period of 2008. While it is important not to get
I
things out of proportion (HHI still has a shipbuilding backlog of orders worth US$26.7 billion, aſter all, with the majority of deliveries due aſter 2010), it is worth observing that expectations from affiliate company Hyundai Mipo Dockyard that it will secure orders worth US$3.5 billion in 2009, compared to the US$4.6 billion it achieved in 2008, and from Hyundai Samho Heavy Industries that it will win US$3.5 billion worth of orders in 2009, compared to US$4.3 billion in 2008, may prove optimistic. HHI said what it termed the “oversupply
t is not necessary to look beyond the latest financial results posted by Hyundai Heavy Industries (HHI)
West Polaris, built by Samsung Heavy Industries for Seadrill. TECHNICAL PARTICULARS
Comparison between our HuisDrill 10,000 ordered through STX Shipbuilding and a traditional drillship*
HuisDrill 10000
Max. water depth (MDR) Max drilling depth Variable deck load Deck area Length Width
Displacement
Installed thruster power Cost
Source: Huisman 74
10,000ft (3000m) 40,000ft (12km) 20,000tonnes 4,000m2
619ft (189m) 104ft (32m) 54,000tonnes 6 x 3.5MW
< $ 600 million Conventional drillship
10,000ft (3000m) 35,000ft (10.5km) 20,000tonnes 3,200m2
748ft (228m) 137ft (42m) 96,000tonnes 6 x 5.5MW >$ 1 billion
problem” would be “settled down by the cancellation of speculative orders and by restructuring of the uncompetitive shipyards. About three years of backlog will work as a buffer, enabling HHI to survive through the adjustment period despite tough market conditions expected in the near term.” In the meantime, though, some South
Korean shipbuilders are looking to follow the lead taken by Samsung Heavy Industries in pursuing opportunities in the relatively resilient offshore sector. So far, SHI, for example, has built 10 drillships, and it has a further 25 on order. Daewoo Shipbuilding & Marine
Engineering (DSME) delivered its first ultra deepwater drillship to Transocean in 2006. Discoverer Clear Leader is 254m long, 38m across the beam and 127m high.
The Naval Architect July/August 2009
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