The Korea Herald


S. Korea retakes No. 1 spot in global shipbuilding orders in July

By Yonhap

Published : Aug. 14, 2023 - 11:20

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(Yonhap) (Yonhap)

South Korea recaptured the top spot in new global shipbuilding orders for the first time in five months in July, industry data showed Monday.

Local shipyards clinched orders totaling 1.46 million compensated gross tons to build 29 ships, accounting for 44 percent of the global total of 3.33 million CGTs, according to London-based Clarkson Research Services Ltd.

The world total was up 22 percent from the same month a year earlier.

It marks the first time since February for South Korean shipbuilders to take the leading spot.

China placed second with 1.13 million tons to construct 48 vessels, taking up 34 percent of the global total.

In terms of order backlog, China topped the list with 55.35 million CGTs, or 47 percent of the global total at 117.77 million CGTs as of end-July, which was up 190,000 CGTs from the prior month. China's number rose 13 percent on-year.

South Korea came second with 39.26 million CGTs, which was up 9 percent from a month earlier and accounted for 33 percent of the world total.

Clarkson's Newbuilding Price Index, a barometer of price changes in newly built ships, came to 172.38 points last month, up 10.80 points from a year ago. (Yonhap)