South Korean shipyards returned to the world’s top rank in the order book for the first half after lagging behind Chinese competitors for the last three years.
According to British shipbuilding and marine industry tracker Clarkson Research Services on Tuesday, Korean shipbuilders clinched deals to build a combined 115 vessels equal to 4.96 million compensated gross tonnage (CGT) in the first six months of this year, accounting for the largest 40 percent of 12.34 million CGT orders placed in the world.
China won the second-largest volume of 4.39 million CGT, accounting for 36 percent of global orders during the cited period. It is the first time in three years for Korean players to beat Chinese rivals based on new orders for the first half period. In the first six months of 2016, Korean shipyards bagged orders equal to 860,000 CGT, accounting for 12 percent of global orders, trailing behind China that won orders equal to 3 million CGT (40 percent). In the following year, Korean players registered new orders equal to 3.21 million CGT (28 percent), less than China that clinched 3.93 million CGT (35 percent) orders.
In June, world’s new order volume stood at 1.38 million CGT and in May 1.39 million CGT. By country, China topped with 570,000 CGT last month, followed by Korea with 530,000 CGT and Japan with 60,000 CGT.
As of end of June, global ship order backlog amounted to 75.27 million CGT, 640,000 CGT less from the previous month. By country, China had the largest backlog of 28.25 million CGT, followed by Korea with 17.38 million CGT, and Japan with 14.19 million CGT.
By Woo Je-yoon and Lee Eun-joo
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