Outlook for garnet demand in Korean shipbuilding industry remains positive
In April this year, GMA visited major shipbuilders in Busan, the heart of the shipbuilding industry in South Korea.
Discussions with key stakeholders on the current state of the industry revealed that the shipbuilders are going through challenging times with less demand for shipbuilding and offshore oil & gas platforms.
The global shipping industry is stuck in its worst slump on record amid trade slowdown, low freight rates and overcapacity of vessels. The South Korean shipbuilding industry is more vulnerable to the downturn as 90% of their projects come from international clients.
Nevertheless, we are optimistic that the market remains receptive to our products as the better alternative over conventional abrasives such as steel grit and slags.
“Our initial discussions with two shipbuilders on the benefits of GMA Garnet™ which offer higher productivity and performance with minimal impact to the environment were well received,” said GMA Executive General Manager Asia Pacific Sales Iain Simpson.
“We have also arranged product samples for blasting trials,” he added.