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S. Korea Stays Top Shipbuilding Nation

25.01.2008 17:04
Section: Different
South Korea took the No. 1 ranking in the global shipbuilding industry in terms of new orders, order backlogs and the volume of vessels built in 2007, a London-based market researcher said Wednesday. According to Clarkson Plc., the nation's shipbuilders such as Hyundai Heavy Industries Co. won a combined 32 million compensated gross tons (CGTs) in new orders last year, accounting for 40.4 percent of all global new orders.

Consequently, South Korea has maintained the top spot in terms of new orders since 2003. Chinese shipbuilders took the second spot with orders totaling 29.2 million CGTs last year, outpacing Japanese rivals which won a combined 6.5 million CGTs. Clarkson said South Korean shipbuilders' combined order backlogs totaled 64.4 million CGTs, making up nearly 36.1 percent of 178.2 million CGTs in global backlogs. China followed with order backlogs of 52.4 million CGTs and Japan with 30.3 million CGTs. South Korean shipyards built one in every three newly-constructed vessels in the world last year, totaling 11.2 million CGTs, which accounts for 34 percent of the global total.

South Korea, home to seven of the world's top 10 shipyards, clinched record-high orders last year because of strong demand for crude carriers and offshore exploration equipment amid lofty oil prices. By shipbuilder, Hyundai Heavy Industries Co., the world's largest shipyard, had 14.45 million CGTs in order backlogs, trailed by Samsung Heavy Industries Co. with 10.9 million CGTs and Daewoo Shipbuilding and Marine Engineering Co. with 9.68 million CGTs.

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