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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Crowley Christens 2nd LNG-ready Product Tanker

Crowley christens second of four newly built, LNG-ready product tankers for use in U.S. coastwise trade   Crowley Maritime Corp. has christened the second of

VT Halter Delivers ATB Tug to Bouchard

VT Halter Marine, Inc. announced the delivery of the M/V Morton S. Bouchard Jr., the first of the two 6,000 horsepower Twin Screw Articulated Tug Barge (ATB) tugs to Bouchard Transportation Co.

Damen Builds Cable Installer For Maersk Supply Service

New Damen-built vessel for Maersk Supply Service to undertake long-term charter with DeepOcean   A newbuild DP2 cable installation vessel, Maersk Connector, was

Maritime Safety

Topaz Responder Saves Refugee Migrants

Topaz Energy and Marine has emerged as an unlikely player in the effort to save refugee migrants risking their lives on the sea crossing from Turkey to Greece’s islands in order to reach Europe.

Antietam, McCampbell Build Relationships at IFR 2016

Ticonderoga-class guided-missile cruiser USS Antietam (CG 54) and Arleigh Burke-class guided-missile destroyer USS McCampbell (DDG 85) arrived Feb. 4 in India

Hijacked Singaporean Ship Released in Nigeria

The crew of a Singapore-registered container vessel, Safmarine Kuramo, hijacked off the Nigerian Coast earlier this week, were released unharmed on Saturday (Feb

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1572 sec (6 req/sec)