Korean shipbuilders retain top spot in global new ship orders in Jan-Nov

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South Korean shipbuilders kept lead for the 11th month in new order book thanks to demand for LNG carriers.

According to British shipbuilding and marine industry tracker Clarkson Research Services on Monday, Korean shipbuilders bagged new orders totaling 7.12 million compensated gross tonnage (CGT) worth $16.4 billion in the January-November period, retaining world’s leading ranking in new order counts. They were followed by China with 7.08 million CGT worth $15.3 billion, Japan with 2.57 million CGT, and Italy with 1.14 million CGT.

In November alone, Korean shipbuilders won third-largest amount of orders to build three new vessels totaling 60,000 CGT, bringing in home about 8 percent of world’s 790,000 CGT orders for 37 vessels. China accounted for the largest of 69 percent for 21 vessels totaling 540,000 CGT, followed by Japan 15 percent for five vessels totaling 110,000 CGT.

But Clarkson Research Services data left out orders recently won by Samsung Heavy Industries Co.

An unnamed industry official said that Korea will beat China in November when including contracts signed on November 22 and 29 to build liquefied natural gas carriers and two ice-resistant crude oil carriers, respectively.

Korean shipbuilders secured orders for mostly high-value-added vessels such as LNG carriers that took up 38 percent of the total. Bulk carriers accounted for the largest 33 percent of orders won by China and 47 percent by Japan.

Data showed that world’s order backlog as of end of November stood at 74.33 million CGT, down 2 percent from the end of October. Korea’s order backlog dropped by 530,000 CGT, China by 390,000 CGT, and Japan 180,000 CGT.

By country, China had the largest order backlog of 26.29 million CGT (35 percent), followed by Korea with 20.75 million CGT (28 percent), and Japan 11.76 million CGT (16 percent).
Source: Pulse

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