South Korean builders continue to grab most orders

Malcolm Latarche
Malcolm Latarche
ShipInsight

16 August 2019


China has won most new orders for new ships in the first half of 2019, but South Korean builders have retained the top spot in global shipbuilding orders for the third straight month according to data from Clarksons Research Services.

In July, South Korean shipyards won orders totalling 270,000compensated gross tons (CGTs) to build 10 ships, accounting for half of the orders placed around the globe. Chinese shipbuilders bagged orders amounting to 200,000 CGTs to build 11 vessels, while Japan logged 30,000 CGTs for one ship.

In the first seven months of the year, South Korean shipbuilders have won orders totalling 3.74 million CGTs to construct 92 vessels for a 32% market share, the data showed. China topped the list with 4.74 million CGTs, or 197 ships, for a 40% market share.

With the global shipping industry hit by the US.-China trade dispute, new shipbuilding orders in the first seven months of the year dropped 43% from a year earlier to 11.82 million CGTs. In terms of order backlog, China topped the list with 27.95 million CGTs (36% of the market), followed by South Korea with 20.31 million CGTs (26%) and Japan with 13.65 million CGTs (18%).