South Korean shipbuilders nudged out their Japanese and Chinese rivals in winning new orders in the first quarter of 2015, as overseas competitors were hit even harder by the overall slump in the shipbuilding industry, data showed Sunday.

For the January-March period, South Korean shipbuilders ranked No. 1, followed by Japanese and Chinese companies, according to the data compiled by global market researcher Clarkson Research Services.

The latest result marks the first time that local players here have claimed the top spot for the first quarter since they last beat out Chinese competitors in 2012.

Local shipbuilders obtained new orders totaling 2.31 million compensated gross tons over the cited period, securing 41 percent of the global market share, according to the data. Japanese shipbuilders trailed with 1.62 million CGTs for a 28.9 percent share, followed by Chinese firms' 1.35 million CGTs, equal to 24 percent.

Market watchers said the increase for South Korean companies is due largely to the ongoing slump among Chinese firms. Since October, new orders won by the shipbuilders from the world's No. 2 economy have hovered below the 500,000 CGT mark every month, according to industry data. (Yonhap)