Korea’s Top Three Shipbuilders Announce Increase in New Orders for This Year

Korea’s top three shipbuilders saw an increase in new orders this year despite global shipbuilding orders dropping sharply from a year earlier. According to related industries on Thursday, global new shipbuilding orders during the January to May period stood at 12 million CGT or compensated gross tons which is not even a third of total orders received last year.

However, Korea’s Hyundai Heavy Industries and Samsung Heavy Industries have secured orders worth 14.8 billion and 11.1 billion dollars, respectively, as of now which is more than what the two shipbuilders received during 2010. Daewoo Shipbuilding and Marine Engineering also won contracts worth more than 6.7 billion dollarsmore than half of last year’s total orders of 11.2 billion dollars.

(arirang)

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Source: arirang, June 30, 2011; Image:clarkson