Lloyd's Register issues guide to new construction in South Asia Wednesday, Jun 26, 2013
Lloyd's Register has issued the first Guide to New Construction in South Asia. The Guide provides an overview of the shipbuilding and ship design industry in the area. With shipbuilding in South Asia growing - in numbers of ships, in capacity and in capability, this Lloyd's Register guide provides factual information from across the countries.
The future is looking extremely bright for shipping and shipbuilding in the South Asia area. Maritime trade looks set to grow, demand for energy infrastructure is highly likely to grow and local naval power and ambition also looks set to grow. Global Marine Trends 2030, the Lloyd's Register report released in April, identified the growing importance of Asian economic growth and significance in shipbuilding and shipping. The South Asia area was identified in the report as having very high potential for growth and shipbuilding in the area is forecast to grow and it is highly likely to continue and to strengthen if economic growth continues at anticipated levels.
The area now boasts an increasing number of world class shipbuilding centres including joint ventures combining the design and management of Korean or Japanese industry heavyweights with local workforces in Indonesia, Vietnam and the Philippines. This model has been so successful that yards such as Hanjin Subic Shipyard, employing more than 18,000 workers, have propelled the Philippines to a position as the world's fourth largest shipbuilder.
In addition to joint ventures with international shipbuilders, the South Asia area has also seen significant growth in the number of public and private sector shipbuilding enterprises. This is especially so in India with the Indian government's plan is to expand its global shipbuilding market share from 1% to 5% by 2020. This plan has already seen investment and expansion in both naval and commercial yards. A recent newbuilding first was the delivery of the first Panamax bulk carrier to be constructed in India – at Pipavav, from their 2 million square foot yard in Gujarat, on India's west coast.
Increasingly, shipowners are seeing the area as an attractive newbuilding option for current and future projects. Capability previously exclusively directed at local demand in countries like Indonesia and Vietnam, is now at a level that is becoming competitive with the quality, facilities and construction times of the world's leading yards.
South Asian yards are looking to compete on a global stage, whether building VLCCs and bulk carriers or smaller ships – such as technically challenging naval ships, offshore supply vessels, specialised tugs and aluminium supply craft.
Mark Darley, South Asia Area Manager, Lloyd's Register, said: "We are well placed to support the South Asia area and its development. Lloyd's Register has produced this guide for the industry and investors as we continue to work and build our co-operation and mutual support with local and international owners, with the shipyards in South Asia and with suppliers and designers."
"Lloyd's Register employs over 100 exclusive surveyors including local and expatriate technical staff in the South Asian countries. These experts are supported by a team of experienced technical performance, business development and support staff. We have over 20 offices across South Asia including site offices in many of the major shipyards where Lloyd's Register classed ships are under construction."
"Development in South Asia looks set to continue. Understanding the capabilities, facilities and experience of the area's yards and designers is vital in making informed choices in any newbuilding projects. Whatever the pace or direction of development, Lloyd's Register's commitment to South Asia shipbuilding will continue. We hope you find this guide useful and we remain on standby to receive your South Asia enquiries."
