The Korea Herald


S. Korea regains status as top winner of new ship orders in Q1

By 신용배

Published : April 7, 2011 - 09:43

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South Korea recaptured its status as the world's leading shipbuilding nation in terms of new orders in the first quarter by beating China by a wide margin, industry data showed Thursday.

   According to data compiled by London-based market researcher Clarkson Research Services, South Korean shipbuilders won a combined 3.29 million compensated gross tons (CGTs) in new orders in the January-March period, up 29 percent from a year earlier.

   South Korean shipbuilders accounted for 52.5 percent of the total new orders placed globally.

   Chinese shipbuilders clinched 1.95 million CGTs in the first quarter, a drop of 22 percent from a year earlier, and had 31 percent of the new orders placed during the cited period, according to data.

   It is the first time since the first quarter of last year that South Korean shipbuilders have ranked No. 1 in new quarterly orders.

   Meanwhile, the value of new orders won by three South Korean shipyards -- Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. -- reached a combined US$12.86 billion in the first quarter, compared with $5.99 billion a year earlier, data showed. (Yonhap News)