European shipbuilders to investigate Korean prices

Some European shipbuilders, it seems, still see their problems as including artificially low pricing by Korea.

In view of what it calls "cases of unrealistically low offer prices in the shipbuilding market" and complaints by several members, CESA (the Community of European Shipyard Associations) is to establish a cost investigation procedure to "assess realistic production costs for what seem to be irrationally low-priced contracts."

CESA says the investigation will involve experts from the field and take the concrete project specification as well as the specific conditions of the respective builder into account. Only contracts for which European yards have tendered will be taken into consideration. Should the results indicate that the reported contract price is substantial below the estimated cost, CESA will contact both customer and builder for comments.

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