Three South Korean shipbuilders ranked among the world’s top 10 in new global orders for 2024, with the remaining positions dominated by Chinese shipyards, according to industry data from Clarkson Research Services.
South Korea’s Presence in the Global Order Rankings
Samsung Heavy Industries secured the fifth spot in global new orders, followed by Hanwha Ocean and HD Hyundai Samho Heavy Industries in sixth and seventh place, respectively. The top four positions were taken by China’s New Times Shipbuilding, Hudong-Zhonghua Shipbuilding, New Yangzijiang, and Hengli Heavy Industry.
Dalian Shipbuilding, Waigaoqiao Shipbuilding, and Jiangnan Shipyard rounded out the top 10.
South Korea Leads in Order Backlog
While Chinese shipyards dominated new orders, South Korea maintained a strong lead in order backlog, ensuring steady production capacity for the coming years.
- HD Hyundai Heavy Industries held the top position globally with 8.93 million CGTs in backlog.
- Samsung Heavy Industries followed closely with 8.72 million CGTs.
- Hanwha Ocean ranked third with 8.49 million CGTs.
- HD Hyundai Samho secured the sixth spot.
Strategic Strength in Large-Scale Orders
Industry insiders highlighted that while South Korea may not have led in new orders, its strong backlog reflects the success of securing large-scale, high-value contracts, positioning the nation’s shipbuilders for long-term stability and continued global competitiveness.
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Source: Yonhap
