Korean Shipbuilders Keep World-Leading Status

      January 26, 2012 11:44

      Korea maintained its reputation as the global powerhouse in shipbuilding, with the nation's shipyards sweeping the top six spots in the world rankings. But as three Chinese firms have scraped inside the top 10, the competition between the two countries is likely to heat up this year.

      According to market researcher Clarkson on Wednesday, as of December last year, Samsung Heavy Industries had an order backlog of 8.05 million compensated gross tons (CGT) to rank as the world No. 1 company for the second straight year.

      Daewoo Shipbuilding and Marine Engineering took second place with 7.03 million CGT, followed by Hyundai Heavy Industries (5.81 million CGT) and STX Offshore and Shipbuilding (3.7 million CGT).

      If Hyundai's affiliates, Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard, which placed 5th and 6th respectively, are factored in, Hyundai outperformed Samsung with a combined order backlog of 12.56 million CGT.

      Chinese shipbuilders followed, with Rongsheng Heavy Industries in 7th place, Jinhai Heavy Industries 8th, and Dalian Shipbuilding Industry 9th. Korea's Sungdong Shipbuilding and Marine Engineering came 10th on the list.

      Japanese shipbuilders failed to make the top 10, despite Oshima Shipbuilding having placed ninth in 2010.

      Korea is likely to dominate the market for the time being as orders have been sluggish on bulk carriers and tankers, areas in which Chinese shipbuilders are strong, Samsung Heavy Industries said.

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