Korea Overtaken by China in Global Shipbuilding Orders

  • By Choi Hyun-mook

    May 15, 2019 09:51

    Korea has slipped behind China in global shipbuilding orders.

    U.K.-based Clarkson Research Services said Tuesday that Korea accounted for 23 percent or 280,000 compensated gross tons of global shipbuilding orders last month, sliding into second place behind China with 66 percent or 770,000 CGT.

    Despite a drop in the overall number of new orders, Chinese shipyards were buoyed by an increase in domestic orders. Of the 28 orders they bagged, 16 were for bulk carriers from China's state-run companies.

    China also led in terms of cumulative orders for the first four months of this year, with 344,000 CGT (45 percent), followed by Korea with 202,000 CGT (26 percent), Italy with 111,000 CGT (14 percent) and Japan with 71,000 CGT (9 percent).

    Korea took the lead for the first time in seven years last year, only to be beaten by China again.

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