Korea Reclaims Crown From China As World’s Top Shipbuilder

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South Korea reclaimed the crown from the Chinese as the world’s largest shipbuilder after three years last quarter, sweeping global orders for high value-added, low-carbon ships to which it has been shifting its focus amid the decarbonization trend, the Ministry of Trade, Industry and Energy said on Wednesday.

Orders received

South Korean shipyards received a total of $13.6 billion worth of orders in the first quarter, up 41.4% from the same period of last year, said the ministry, citing data released by Clarksons Research.

The country, home to HD Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Hanwha Ocean Co, swept global contracts with orders for 29 LNG and 20 ammonia carriers placed in the first quarter of this year.

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Source: Kedglobal