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Korean shipyards retake top spot in July orders!

South Korean shipbuilders grabbed the No. 1 ranking in new shipping orders in July for the first time this year, beating their Chinese rivals, industry data showed on Tuesday.

Korean shipyards retake top spot in July orders!
13 August 2020 - 11:55 - Update: 13 August 2020 - 11:59

According to the data provided by global market researcher Clarkson Research Service, the Korean shipbuilders' new orders amounted to 500,000 compensated gross tons (CGTs), or 12 ships, in July, which accounted for 74 percent of the global new orders totaling 680,000 CGTs, or 24 ships, last month.

Chinese shipbuilders won new orders totaling 140,000 CGTs, or 24 ships, followed by Japanese shipbuilders with 30,000 CGTs, or one ship.

During the January-July period, global orders for new ships remained still in the doldrums, down nearly 60 percent from a year ago.

Global new orders have been on the decline since 2018, reaching 21.18 million CGTs, 15.73 million CGTs and 6.61 million CGTs in the first seven months of 2018, 2019 and 2020, respectively.

Chinese shipbuilders racked up new shipbuilding deals totaling 3.74 million CGTs, or 164 ships, taking up 57 percent of the total orders placed in the first seven months of this year, trailed by South Korean shipbuilders with 1.68 million CGTs, or 49 ships, and Japanese ones with 680,000 CGTs, or 43 ships.

Source: Yonhap News

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