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S. Korea's big 3 shipyards clinch no orders in May

All News 11:12 June 02, 2016

SEOUL, June 2 (Yonhap) -- South Korea's top three shipbuilders failed to clinch any new orders last month, mirroring a protracted slump in the global shipbuilding sector, industry data showed on Thursday.

According to the data compiled by global research firm Clarkson Research Services, the nation's top three shipyards -- Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. -- won no new orders last month.

But Hyundai Mipo Dockyard Co., an affiliate of Hyundai Heavy Industries Co., clinched orders to build two petrochemicals carriers, and another local shipbuilder won deals to build two PC carriers, the data showed.

Last month, a total of 1.06 million compensated gross tons (CGTs) worth of new orders were placed around the globe to build 38 ships.

Germany clinched the largest amount at 590,000 CGTs in orders last month, followed by Romania and Vietnam with 140,000 CGTs and 90,000 CGTs, respectively.

In the first five months of the year, a total of 4.98 million CGTs in orders, or 156 vessels, were placed globally, one-third of last year's figure.

South Korea ranked sixth in terms of new orders with 270,000 CGTs, the data showed.

The country's big three shipyards have been implementing massive restructuring programs to tide over mounting losses.


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