Global Shipbuilding Orders Crash To a Historic Low in H1

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  • Global shipbuilding orders at historic low in H1.
  • January-June period, global new shipbuilding orders totaled 5.75 million CGTs, or a total of 269 ships.
  • The lowest since 1996 and a 42 percent drop from the previous year.
  • Chinese shipbuilders got new orders totaling 3.51 million CGTs, or 145 ships, in the January-June period, taking up 61 percent of the total.
  • In June, Chinese shipyards bagged orders totaling 460,000 CGTs, or 16 ships.
  • As of end-June, Chinese shipbuilders had the largest order backlog at 26.13 million CGTs, accounting for 37 percent of the total.

Amid the coronavirus pandemic, global shipbuilding orders fell to a historic low in the first half of the year, reports Yonhap News Agency.

Lowest since 1996

According to data provided by global market researcher Clarkson Research Service, during the January-June period, global new shipbuilding orders totaled 5.75 million compensated gross tons (CGTs), or a total of 269 ships.

The data showed that the tally marks the lowest since 1996 and a 42 percent drop from the previous year.

New orders in H1

Chinese shipbuilders 

  • Chinese shipbuilders clinched new orders totaling 3.51 million CGTs, or 145 ships, in the January-June period, taking up 61 percent of the total.

South Korean shipbuilders 

  • South Korean shipbuilders trailed with 1.18 million CGTs, or 37 ships.

Japanese shipbuilders

Japanese players with 570,000 CGTs, or 36 ships.

Global June orders

In June, global new shipbuilding orders came to 820,000 CGTs, or 30 ships, up 26 percent from the previous month but down 51 percent from a year earlier.

Chinese shipyards 

  • Chinese shipyards bagged orders totaling 460,000 CGTs, or 16 ships.
  • As of end-June, Chinese shipbuilders had the largest order backlog at 26.13 million CGTs, accounting for 37 percent of the total.

South Korean shipbuilders 

  • South Korean shipbuilders with 250,000 CGTs, or 4 vessels.
  • As of end-June, South Korean shipbuilders had their order book totaling 19.76 million CGTs. 

Japanese shipbuilders 

Japanese shipbuilders 9.54 million CGTs.

However, global shipbuilding orders may improve slightly as liquefied natural gas (LNG) carriers were to be ordered from Russia and Mozambique, industry sources said.

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Source: Yonhap News Agency