TECHCROSS

PRESS Techcross Dominates the Domestic Ballast Water Management Market 2021-08-30
With the improvement of the global shipbuilding market, new orders have reached the highest level since 2008. With global order books concentrated around shipyards in Korea, China, and Japan, orders for Techcross' ballast water management system are soaring. In particular, the overwhelming performance in the domestic market is remarkable. In Korea, Hyundai Heavy Industries Group, DSME, Samsung Heavy Industries, which are often referred to as the Big 3, as well as mid-sized shipyards such as STX, Daehan Shipbuilding and Dae Sun Shipbuilding & Engineering are occupying the shipbuilding market. According to Clarksons Research, about 43% of orders in the first half of this year occurred in domestic shipyards, after 45% in China. In other words, securing orders at domestic shipyards is directly linked to securing global orders. Under these circumstances, Techcross secured orders at all of the domestic Big 3 shipyards and three medium-sized shipyards, becoming the only manufacturer of ballast water management system in the world to deal with six Korean shipyards. The reason for continues success of Techcross is that it is supported by its product performance and various installation performances, as well as the ability to meet the delivery schedule. As production capacity and installation schedule are becoming an important issue due to the surge in orders for the ballast water management system currently, the world's largest plant of Techcross in Busan, capable of producing more than 3,300 units per year, is a big advantage for domestic shipyards. In addition, looking at Techcross' recent progress, sales are mainly from high value-added vessels such as VLCCs and LNGCs, proving once again the superiority of Techcross’ products in large vessels along with the technical excellence of Korean shipyards. As of August, Techcross is also participating in tanker and LNGC projects including VLCCs in domestic shipyards, which are currently underway in South Korean shipyards, so the outlook for orders in the second half of the year is still bright. It is expected to achieve record-breaking performance this year, exceeding the previous year's sales of 230 billion won.

PRESS

Techcross Dominates the Domestic Ballast Water Management Market

2021-08-30

With the improvement of the global shipbuilding market, new orders have reached the highest level since 2008. With global order books concentrated around shipyards in Korea, China, and Japan, orders for Techcross' ballast water management system are soaring. In particular, the overwhelming performance in the domestic market is remarkable.

In Korea, Hyundai Heavy Industries Group, DSME, Samsung Heavy Industries, which are often referred to as the Big 3, as well as mid-sized shipyards such as STX, Daehan Shipbuilding and Dae Sun Shipbuilding & Engineering are occupying the shipbuilding market. According to Clarksons Research, about 43% of orders in the first half of this year occurred in domestic shipyards, after 45% in China. In other words, securing orders at domestic shipyards is directly linked to securing global orders. Under these circumstances, Techcross secured orders at all of the domestic Big 3 shipyards and three medium-sized shipyards, becoming the only manufacturer of ballast water management system in the world to deal with six Korean shipyards.

The reason for continues success of Techcross is that it is supported by its product performance and various installation performances, as well as the ability to meet the delivery schedule. As production capacity and installation schedule are becoming an important issue due to the surge in orders for the ballast water management system currently, the world's largest plant of Techcross in Busan, capable of producing more than 3,300 units per year, is a big advantage for domestic shipyards. In addition, looking at Techcross' recent progress, sales are mainly from high value-added vessels such as VLCCs and LNGCs, proving once again the superiority of Techcross’ products in large vessels along with the technical excellence of Korean shipyards.

As of August, Techcross is also participating in tanker and LNGC projects including VLCCs in domestic shipyards, which are currently underway in South Korean shipyards, so the outlook for orders in the second half of the year is still bright. It is expected to achieve record-breaking performance this year, exceeding the previous year's sales of 230 billion won.

TECHCROSS LOGO