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S. Korean shipbuilders rank first in global new orders for 2nd month

All News 11:51 December 07, 2021

By Nam Kwang-sik

SEOUL, Dec. 7 (Yonhap) -- South Korean shipbuilders ranked first in global new orders for a second month in November, far outpacing their Chinese rivals, industry data showed Tuesday.

Local shipbuilders, led by Hyundai Heavy Industries Co., gained 58 percent, or a combined 770,000 compensated gross tons (CGTs), of 1.32 million CGT global new orders last month, according to data provided by global market researcher Clarkson Research Service.

Chinese shipbuilders bagged 460,000 CGTs, taking up 35 percent of the total.

In the January-November period, new shipbuilding orders around the globe reached 45.07 million CGTs, up more than twofold from 18.97 million CGTs a year ago.

This file photo, provided by Samsung Heavy Industries Co. on Dec. 21, 2020 shows a liquefied natural gas carrier built by the shipbuilder. (PHOTO NOT FOR SALE) (Yonhap)

By country, South Korea bagged orders for 397 ships of 16.96 million CGTs, representing 38 percent of the total in the first 11 months.

China won orders for 918 ships of 21.92 million CGTs, taking up 49 percent of the total, followed by Japan with 203 ships of 3.93 million CGTs, which accounted for nine percent.

Global order backlogs stood at 90.07 million CGTs at the end of November, down 500,000 CGTs a month earlier.

South Korea's order backlog logged 28.99 million CGTs in November, up 310,000 CGTs from the previous month, with China's coming to 37.20 million CGTs and Japan's reaching 9.29 million CGTs.

Clarkson's Newbuilding Price Index, indicating price changes in newly built ships, rose to 153.6 points in November, up 1.3 points from the previous month.

The index topped 150 points in October for the first time since September 2009.


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