South Korea overtook leading position as the world’s No. 1 shipbuilding nation in 2011. S. Korea managed to do this by securing deals for large, value-added vessels, reported London-based market researcher Clarkson Research Services.
According to Clarkson Research Services, South Korean shipbuilders won a combined 13.55 million compensated gross tons (CGTs) in new orders last year, while Chinese shipbuilders clinched a total of 9.2 million CTGs.
South Korean shipbuilders also managed to overtake their Chinese rivals in terms of order value. They inked contracts with the combined value of USD 48.16 billion while Chinese shipyards managed to secure USD 19.2 billion in newbuild orders.
But South Korean shipyards’ order backlogs were smaller than those of Chinese rivals. South Korean shipbuilders’ order backlogs came to 37.66 million CGTs, far lower than 44.99 million CGTs for Chinese shipbuilders, according to Clarkson.
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Shipbuilding Tribune Staff, January 10, 2012