[Ferro-alloys.com] Yonhap reported that South Korean steelmakers appear to be in the final stage of negotiations with shipbuilders over prices of steel plates, as country's largest steelmaker Posco has reportedly proposed a hike in the prices of thick steel plates to KWR 1.15 million (USD 980) per tonne, marking a sharp increase from the first half of this year when thick steel plates were sold at around KWR 700,000 per tonne, up by almost 65%.The report quoted a Posco official as saying that "We are still in negotiations and I think we can strike a deal at a reasonable level.”

Steel plates account for about one-fifth of shipbuilding costs and steel makers conclude separate deals with shipbuilders over prices of steel plates every half-year.

Korean shipyards achieved more than half of their annual target in the first half. Korea Shipbuilding & Offshore Engineering, the world's biggest shipbuilder by order backlog, won new orders for 156 ships and two offshore plants worth a combined USD 13.8 billion, accomplishing about 92 percent of its annual target of USD 14.9 billion. Korea Shipbuilding & Offshore Engineering is the holding company of three shipbuilders Hyundai Heavy Industries, Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard.

Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries achieved more than 60% of their annual order target in the first half of the year.

• [Editor:zhaozihao]