South Korea’s shipbuilding orders kept the No.1 spot for two straight years to 2019, reports Xinhuanet.
Local shipbuilder’s new orders
South Korea’s shipbuilding orders kept the No.1 spot for two straight years to 2019, taking over one-third of combined global ship orders, the trade ministry said Monday citing data from Clarkson Research.
- New vessel orders, won by local shipbuilders, totaled 9.43 million compensated gross tonnage (CGT) in 2019,
- making up 37.3 percent of 25.29 CGT for global ship orders placed in the year.
Dominance position maintained
The country maintained its dominance position for the second consecutive year, the ministry noted. It was trailed by
- China with 8.55 million CGT of shipbuilding orders,
- Japan with 3.28 million CGT of orders and
- Italy with 1.14 million CGT respectively.
The dominance was attributed to big-ticket orders, such as large-scale LNG carriers, Very Large Crude Carrier (VLCC) and large-size container ships.
Domestic shipbuilders bookings
- 94 percent of the total global large-size LNG carrier orders,
- 58 percent of combined VLCC, and
- 61 percent of combined large-scale container ships each last year.
Shipbuilding order value
In terms of value, South Korea’s shipbuilding orders amounted to 22.3 billion U.S. dollars in 2019.
China’s orders were valued at 20.3 billion dollars, followed by Italy with 7.5 billion dollars and Japan with 6.1 billion dollars each.
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Source: Xinhuanet
