Chinese Shipbuilding Yard Enters World Top 5

A Chinese shipbuilding yard has entered the global top five in terms of order backlog. According to a report by London-based shipbuilding and marine transportation researcher Clarksons, China's Dalian Shipbuilding Industry with 2,838,000 compensated gross tons (CGT) ranked fifth on the list of world shipbuilding yards based on order backlog as of March. Hyundai Heavy Industries with 10,790,000 CGT came in first, followed by Samsung Heavy Industries with 8,517,000 CGT, Daewoo Shipbuilding & Marine Engineering with 6,559,000 CGT and Hyundai Mipo Dockyard with 4,296,000 CGT. Hyundai Samho Heavy Industries with 2,762,000 CGT and STX Shipbuilding with 2,659,000 CGT raned sixth and seventh, respectively. Sixteen Chinese shipbuilding yards made the top 50 list, which exceeds the number of Korean companies on the list. The figures point to the rapid pace at which the Chinese shipbuilding industry has been growing. The combined order backlog of six Korean shipbuilding yards as of March stood at 35,583,000 CGT, which accounts for 26.7 percent of the 133,215,000 CGT total global backlog. Source: Chosun