Orders at South Korean Yards Down 36.9 Percent

Wednesday, July 11, 2001
South Korean shipyards won shipbuilding orders of 4.2 million compensated gross tons (CGTs) during the first half of this year, down 36.9 percent from a year ago, the Commerce Ministry said on Wednesday.

The orders in dollar terms amounted to $6.8 billion in the period, down 25.4 percent from the previous year, the ministry said in a statement. CGT shows a country's shipbuilding capacity and factors in manpower and added value. Ship-related exports in the first half of 2001 rose a record 44.1 percent to $5.7 billion, helped by exports of steel structures for oil drilling in the sea, it said.

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