Korean shipbuilders are top for orders globally in the third quarter

Korean shipbuilders retained their top status in terms of new orders for the third month in a row in July, beating their Chinese and Japanese rivals, industry data showed Wednesday.

Hyundai Heavy Industries and other local shipyards won 1.81 million compensated gross tons (CGTs) in new orders last month, accounting for 45 percent of 4.01 million CGTs of global new orders, which amounts to 24 of 100 ships, according to data provided by global market researcher Clarkson Research Service.

Chinese shipbuilders obtained 1.77 million CGTs in new orders, with Japanese shipbuilders winning 400,000 CGTs, or 49 and 21 ships, respectively.

In the January-July period, new shipbuilding orders around the globe came to 29.7 million CGTs, up more than three times compared with 9.49 million CGTs a year ago.

Chinese shipbuilders ranked first with new orders amounting to 13.48 million CGTs, or 474 ships, during the cited period, representing 45 percent of the total.

The Chinese shipbuilders were followed by their Korean rivals with 12.76 million CGTs, amounting to 304 ships, and the Japanese ones with 2.61 million CGTs, or 116 ships.

Global order backlogs rose 9 percent to 82.47 million CGTs at the end of July from a year ago.

Korea's order backlog stood at 26.87 million CGTs, with China's coming to 31.63 million CGTs and Japan's 9.26 million CGTs.

Clarkson's Newbuilding Price Index, indicating price changes in newly built ships, rose to 144.5 in the first week of August, extending its upward trend for the ninth straight month.

Yonhap