Korean Shipbuilders Secure $30b in Orders in 1st Half

Tuesday, August 07, 2007
South Korean shipbuilders have secured orders worth some $33.2b in the first half of the year. According to Korea’s Ministry of Commerce, Industry and Energy, domestic shipyards received orders to build 364 ships, which translates into 11.32 million compensated gross tons (CGTs) worth $33.2b, up 51.3 percent from a year earlier.

This marks the first time in the country’s shipbuilding history that shipbuilding orders for a six-month period have exceeded $30b, the ministry said in a press release. An increase in cost per ship also contributed to swelling coffers. Local shipyards received $2,933 for each CGT of shipping they agreed to build in the first half compared to $2,284 a year earlier.

Enhanced technologies and new construction methods, coupled with expanded facilities and equipment, also helped the local shipyards see a large increase in this year’s building capacity. Local shipbuilders completed ships totaling 5.57 million CGTs in the first half of the year, up 12.1 percent from the latter half of last year. Since the first quarter of 2004, they have been building at a rate of more than 2 million CGTs every quarter. Source: Korea Times

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Huisman Cranes for New Maersk Subsea Support Vessels

In December 2014, Huisman secured a contract from COSCO (Dalian) Shipyard for the delivery of four customized 400mt Rope Luffing Knuckle Boom Cranes and two 100mt

Coast Guard Cutter William Trump Commissioned

The Coast Guard Cutter William Trump was commissioned during a ceremony at Coast Guard Sector Key West Saturday Jan. 24, 2015. The Trump is the 11th fast response cutter in the Coast Guard fleet.

World's Largest Ship Sparks Outrage

Jewish groups in the Netherlands and Britain have reacted with rage and despair at the arrival in Rotterdam of the world's biggest ship, the Pieter Schelte, named

Maritime Safety

Training Coastguards is Key to Tackling Piracy

Training and mentoring of coastguards in Africa, Middle East and South East Asia is essential if coastal nations are to have effective control over their Territorial Waters and Economic Zones,

Winter Storm Closes New York/New Jersey Terminals

All marine terminals at the Port of New York and New Jersey are expected to close around 3: 30 p.m. today and remain closed all day tomorrow as a severe winter

Seagull Secures Panama Flag Approval

Seagull Maritime said it has secured training center approval from the Panama Maritime Authority, marking the first time that an overseas company has done so following

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1272 sec (8 req/sec)