Korea’s top 3 shipbuilders account for 55% of global ship orders in July

August 10, 2022

The three major Korean shipbuilders took up more than half of global ship orders in July.

Their order intake in July amounted to 1.16 million CGT (19 ships), accounting for 55 percent of the global shipbuilding order volume of 2.1 million CGT (70 ships), Clarkson Research said on Aug. 9. They took first place for three months in a row. Chinese shipbuilders posted 620,000 CGT (35 ships, 30 percent) during the same period.

From January to July, Korea’s order intake added up to 11.13 million CGT (204 ships, 47 percent), surpassing China’s 10.07 million CGT (383 ships, 42 percent). During this period, a total of 103 liquefied natural gas (LNG) carriers exceeding 140,000 cubic meters in size were ordered, the highest since 2000 when Clarkson Research compiled LNG carrier order data. However, orders for large container ships, tankers and bulk carriers all decreased.

The Korean shipbuilders’ order backlog totaled 35.86 million CGT (717 ships) in July, up 26 percent from 28.5 million CGT (618 ships) a year ago. The backlog increased for 11 months in a row since September 2021. The Clarkson Newbuilding Price Index stood at 161.57p, continuing its uptrend.

Source: BusinessKorea