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S Korean shipbuilders capture 56pc of new orders in February

SOUTH Korean shipbuilders signed up new orders for 43 ships with a total compensated gross tonnage (CGT) of 1.56 million, accounting for 56 per cent of new orders in the global shipbuilding market in February.

S Korean shipbuilders capture 56pc of new orders in February
12 March 2021 - 13:55
SOUTH Korean shipbuilders signed up new orders for 43 ships with a total compensated gross tonnage (CGT) of 1.56 million, accounting for 56 per cent of new orders in the global shipbuilding market in February.

There were 92 ships or 2.82 million CGTs ordered globally in February, according to global market researcher Clarkson Research Service.

The new orders bagged by the South Korean shipyards include and 13 container carriers that are over 12,000 TEU, seven very large crude carriers, and five A-Max oil tankers.

The performance allowed South Korean shipbuilders to surpass their Chinese rivals for the eighth consecutive month.

Chinese shipbuilders got new orders of 1.12 million CGTs, accounting for 40 per cent, while Japanese shipbuilders received 60,000 CGTs or 2 per cent.

Global order backlogs jumped by one per cent or 780,000 CGTs to 71.06 million CGTs in February from January.

Order backlogs by Chinese shipbuilders reached 25.70 million CGTs, or 36 per cent of the total, trailed by South Koreans with 22.47 million CGTs and Japanese shipbuilders with 7.97 million CGTs.

Price changes in newly-built ships were up one point to 128 points in February, rising for the third consecutive month, based on Clarkson's Newbuilding Price Index, reports South Korea's EconoTimes.
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