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South Korea tops global shipbuilding order again this month

South Korea tops global shipbuilding order again this month

In November, by landing more than 60 percent of the world's new shipbuilding orders, Korea came first in the order standings in November for the fifth straight month, beating China.

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Due to the COVID-19 pandemic, global orders for ships in the January-November period of 2020 hit just half of those in the same period of 2019.

In November, global shipbuilding orders amounted to 1.64 million CGTs, the British shipbuilding and shipping industry analysis firm Clarkson Research said on Dec 8. Korea had 990,000 CGTs (24 ships) per country, which was 60% of the total, followed by China with 600,000 CGTs (37%) and Vietnam with 50,000 CGTs (3 percent).

China ranked first with 6.67 million CGTs for the Jan-Nov duration of 2020 (46 percent), followed by Korea with 5.02 million CGTs (35 percent) and Japan with 1.18 million CGTs (8 percent). The gap between Korea and China was reduced from 39 percentage points in the first half of 2020 to 11 percentage points in the Jan-Nov period.

When Korea's orders for LNG tankers and VLCCs won in November are included, the gap will be further narrowed. Global orders for ships reached 14.47 million CGTs in the first 11 months of 2020, just 57 percent of the total (25.23 million CGTs) in the same period of 2019, despite the COVID-19 pandemic.

Maritime Business World 

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