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20 February 2018 The on-line newspaper devoted to the world of transports 10:35 GMT+1

August 16, 2004

Materials prices hit shipbuilders

Despite recent increases in sales, Korean shipbuilding companies are facing deficits as their raw material prices go up.
The prices of the ships the companies are building now were established two years ago, when orders were taken and construction began. Since then, the prices for the thick steel plates that are the major component in shipbuilding have doubled. Oil tankers that now sell for $90 million, reflecting the material cost increases, were priced at $63 million two years ago ......
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