Cgts News

South Korean shipbuilders are expected to maintain their status as the world’s top position in new orders this year, although they may fail to meet their annual order targets.South Korean shipbuilders have secured new orders totaling 7.12 million compensated gross tons to build a total of 168 ships through November, accounting for 36 percent of the total deals placed around the globe, said a report in Yonhap.According to the report, the Chinese rivals have bagged 7.08 million CGTs worth of orders for 304 ships in the first 11 months of the year, with their market share reaching 35 percent, according to the sources.Japan came in third with 2.57 million CGTs…

Shareholders of Hyundai Heavy Industries (HHI) have approved the South Korean shipbuilder's split-up plan amid fierce opposition from its labor union.According to local media reports, Hyundai Heavy Industries, , South Korea's largest shipbuilder, is now divided into mid-holding companies and subsidiaries engaged in shipbuilding, special ship, offshore plant, engine and machinery business.HHI changed its name and mission to the Korea Shipbuilding & Marine Engineering Co., Ltd. (KSME) and decided to use Hyundai Heavy Industries (HHI) as its new subsidiary.KSME will be a listed company with a 100% shareholding in the newly-split company.HHI…

Chinese shipbuilders Chinese shipbuilders took the top spot worldwide in terms of new orders in the first quarter of the year 2019.A report in Yonhap quoted data compiled by industry tracker Clarkson Research Institute that said the local shipyards garnered new orders totaling 2.58 million compensated gross tons (CGTs), or 35 vessels.South Korean shipbuilders came in second worldwide in terms of new orders in the first quarter of the year, said the report.Korean shipyards won new orders totaling 1.62 million compensated gross tons (CGTs) in the January-March period, equating to 35 ships.Italian firms came in third with 780,000 CGTs, or 10 ships.In the first quarter…

South Korean shipbuilders came in first worldwide in total new orders in February, outpacing Chinese rivals, Yonhap news agency said. It comes around 90 percent of the new vessel construction orders awarded in the month.According to the data compiled by industry tracker Clarkson Research Institute, Korean shipyards garnered new orders totaling 630,000 compensated gross tons (CGTs) in February to build eight ships (or 90 percent), out of the 700,000 CGTs (15 vessels).Third spot went to Japanese shipbuilders with 10-thousand CGT.In the first two months of 2019, Chinese shipbuilders won orders totaling 1.24 million CGTs (65 vessels or 41 percent)…

South Korea maintained its number one ranking in the global shipbuilding market in July. The South Korean yards were responsible for almost half of all new orders placed in July 2018.According to Clarkson Research, Korea received orders in July totaling 970,000 compensated gross tonnage or CGT, a measure of work needed to build a vessel. That accounts for about fifty percent of the month's global shipbuilding orders.Yonhap reported that it is a sign of the industry's possible recovery after years of struggling with a global downturn.South Korea ranked first with new orders worth 4.96 million CGTs, or 115 vessels, in the first six months of this year, marking the first time in three years to be at the head of the pack in the first half.

South Korean shipbuilding industry has surpassed China in three months and reached the top of global monthly shipbuilding orders. A report in Yonhap said that South Korean shipyards recaptured the No. 1 position in new orders worldwide in August amid a plunge in overall numbers. The local shipbuilders clinched new orders worth a combined 130,000 compensated gross tons (CGTs) last month to build nine vessels, the report said quoting  data compiled by global research firm Clarkson Research Institute. Chinese rivals came next with 110,000 CGTs, or seven ships. Japanese shipyards bagged orders worth 40,000 CGTs or two ships. In the first eight months of the year, China ranked first with orders worth 4.22 million CGTs or 195 vessels, followed by South Korea with 3.48 million CGTs or 104 ships.

South Korean shipyards emerged on top for new orders in April, Business Korea reported quoting industry data. The global total amount of new shipbuilding orders reached 750,000 CGT last month and 340,000 CGT and 260,000 CGT went to South Korean and Chinese shipbuilders, respectively. Japanese shipyard orders came to nil. In terms of numbers, Korean shipyards clinched new orders to build 12 ships. South Korea took the largest portion of very large crude oil carrier (VLCC) orders placed in quantity early last month, said the report. In the January-April period, South Korean shipyards secured 1.23 million CGTs worth of new orders to build 34 ships. China took the top slot with 1.43 million CGTs, or 78 ships, says HongKong Standard.

While South Korean shipbuilders are continuing to struggle for survival as the recession in the global shipbuilding market drags on, they have clinched new orders to build nine ships in the first four months of the year. Yonhap, quoting industry data, said that the S.Korean shipyards, led by Hyundai Heavy Industries Co., have clinched new orders to build nine ships, accounting for 5 percent of new shipbuilding orders placed around the globe. The country's shipbuilders have racked up 200,000 compensated gross tons (CGTs) in shipbuilding orders during the January-April period, while their Chinese and Japanese rivals have won 1.92 million CGTs or 59 ships and 180,000 CGTs or eight vessels, respectively, during the cited period, says global research firm Clarkson Research Services.

According to UK-based Clarkson Research Services, Shanghai Waigaoqiao Shipbuilding (SWS) had an order backlog in November of just over three million compensated gross tons  (CGTs), an indicator of the level of shipbuilding ouput. That puts the Chinese  shipbuilder in fifth place by order backlog in November, posing a threat to South Korean shipyards which had been dominating the top five list for years. SWS had an order backlog of 3.03 million CGTs as of end-November, beating South Korea's Hyundai Mipo Dockyard Co. that held 2.84 million CGTs, says a report in Yonhap. Daewoo Shipbuilding & Marine Engineering Co. captured the top spot with 8.24 million CGTs, trailed by Samsung Heavy Industries Co. with 5.03 million CGTs and Hyundai Heavy Industries Co.

South Korean shipbuilders' new orders in November fell to the lowest level in six years amid woes over their growing losses, Yonhap reports. Meanwhile, Chinese rivals scooped up a large slice of contracts, according to the data compiled by global researcher Clarkson Research Services. South Korean shipyards bagged new orders totaling 79,834 compensated gross tons (CGTs) last month, the lowest since September 2009. But, Chinese shipbuilders received 1.46 million CGTs worth of new orders last month, which accounted for some 80 percent of the total orders placed around the globe, the data showed. Japan came in third with 50,000 CGTs worth of new orders last month. The industry’s top three companies by revenue— Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co.

Daewoo Shipbuilding & Marine Engineering Co. (DSME) is expected to log an operating loss of over 5 trillion won (US$4.4 billion) this year, up by some 1 trillion won from previous forecasts, reports Yonhap. The outlook follows a recent audit by the state-run Korea Development Bank (KDB), the main creditor of the troubled company, which has revealed additional losses from overseas branches, according to the sources. The South Korean government has suspended a push for creditors to bail out DSME after this huge estimated losses to a canceled order and rising costs in the industry. The cash-strapped shipbuilder will only get another lifeline only if it comes up with a radical restructuring plan and workers undertake in writing to back the plan.

South Korean shipbuilders have ranked first in the world outpacing Chinese and Japanese rivals in terms of new orders in the third quarter of the year, reports Yonhap quoting  Clarkson Research Services. South Korean shipyards bagged new orders totaling 2.11 million compensated gross tons (CGTs) last month, trailing Chinese shipbuilders at 3.48 million CGTs and Japanese companies with 2.36 million CGTs. The country retained its status as the world's leading shipbuilding country in terms of new orders between February and June. It was relegated to second place in July and to third in August. In the first nine months of the year, South Korean shipbuilders secured new shipbuilding orders totaling 8.77 million CGTs, followed by China with 6.33 million CGTs and Japan with 5.99 million CGTs.

South Korean shipbuilders, led by industry leader Hyundai Heavy Industries Co., have secured the largest amount of new orders in the first six months of the year to retain the top slot, while the global shipbuilding industry saw new orders halve, the data compiled by global researcher Clarkson Research Services showed. The new shipbuilding orders around the globe in the first half of this year amounted to 13.28 million compensated gross tons (CGTs). The figure is about 49.2 percent from 26.99 million CGTs a year ago. In the past year, the global shipbuilding industry saw new orders halve. During the cited period, South Korean shipyards clinched new orders totaling 5.92 CGTs. The figure is about the 96.1 percent level of 6.16 million CGTs tallied a year earlier.

South Korean shipbuilders, led by industry leader Hyundai Heavy Industries Co., clinched the largest amount of new orders in May, retaining the top spot for the fourth consecutive month, BusinessKorea reported based on industry sources, including Clarkson Research Services. Data shows a total of 90 orders for tankers were placed worldwide during the first five months of this year, and 58 of them went to Korean shipbuilders while Chinese and Japanese shipbuilders took 18 and 14, respectively. Japanese rivals took orders worth 400,000 CGTs, followed by Chinese ones with 220,000 CGTs, the data showed. South Korea has retained its status as the world’s leading shipbuilding country in terms of new orders since February.

As the global shipbuilding orders have declined due to fall in oil prices, the South Korean shipbuilders have also experienced a steep fall in order levels too, says latest data. Industry data by global market researcher Clarkson Research Services released today (Friday) revelealed that the number of orders won by South Korean shipbuilders fell 36 percent last year as global demand for new ships shrank due to a tumble in oil prices. South Korean shipbuilding companies took orders totaling 11.78 million compensated gross tons (CGTs), or 305 ships, ranking it second in the industry for the fifth consecutive year. Market share for South Korean companies came to 29.7 percent in 2014, falling from the preceding year when it was 30.5 percent. China retained its top ranking for the same period.

South Korean shipbuilders have shown signs of picking up after overtaking their Chinese rivals to regain the top spot last month, according to Yonhap News Agency. However, the sum of new orders in the January-July period lags well behind China rivals. The number of new orders for local shipyards jumped 3.6 times on-month to 33 ships totaling 1.4 million compensated gross tons (CGTs) in July, reclaiming their No. 1 position after five months, according to Yonhap, citing data by global market researcher Clarkson Research Services. CGT, an indicator of the amount of work needed to build a given ship, is used as a tool to compare inter-country shipbuilding output. It is the generally used measure for the volume of orders received.

The shipbuilding industry shows signs of bottoming out with the global market index pointing to an upturn, & Korean players receiving more orders from abroad. Citing  Clarkson Research Services, the Korea Times reports that a total of 277 vessels were ordered in the first quarter of the year, up 39 percent from the same period in 2012 and 93 percent from 2011. Korean small and medium-sized shipbuilders also clinched record orders in the first quarter, for the first time in three years according to the Export-Import Bank of Korea, SPP Shipbuilding, Sungdong Shipbuilding & Marine Engineering, and six other small- and medium-sized shipyards won a combined 601…

According to a report on Yonhap News, South Korea's shipbuilding industry will possibly start to turnaround  in 2014. The news agency cited findings from the BOK report forecast that the SBI (the shipbuilding business index) will rise to 98.87 points and 98.89 points in the first and second quarters of 2014, respectively, after hitting 98.85 points, the lowest in the past several years, in the last three months of 2013. The global shipbuilding market has contracted gradually since 2007, when the shipbuilding business index (SBI) reached 103.21 points. According to the news agency, SBI is a measure of shipbuilding demand, shipping business sentiment, global trading volume and several other factors affecting the shipbuilding industry developed by the Bank of Korea.

A Nov. 28 report from The Korea Times cited London-based market researcher Clarkson Research as saying that South Korea completed shipbuilding of 13.36 million compensated gross tons in the first 10 months of this year, or 31.8 percent of the global total. In contrast, according to the report, China's shipbuilding volume reached 14.81 million CGTs, 35.3 percent of the world's total ships completed and delivered during the January-October period. (Source: The Korea Times)

New ship orders for world market share leading South Korea, dipped 46% in 1Q 2002, according to government sources. New orders amounted to 917,000 cgt for 21 vessels (approximately $1.4 billion) down from 1.7 million CGTs for 55 ships (approx. $2.7 billion) in the same period last year. Some South Korean forecasts indicate that orders for new ships could be down between 14 and 22 percent in 2002, due mainly to the still recovering global economy and the unusually high level of new construction of new shipbuilding activity from years past.

After raking in almost 40 percent of global orders in 2000, South Korean shipyards plan to focus on boosting profit margins this year by being more selective in picking up orders, company officials and analysts say. The country's major shipbuilders are under no pressure to accept new orders as their backlogged orders are sufficient to keep their dockyards busy for the next two-and-a-half years. But officials at Hyundai Heavy, the world's largest shipbuilding firm, said that its profit margins would increase dramatically through rigorous requirements on new orders and other cost-cutting measures. Samsung Heavy and Daewoo Shipbuilding, two major world shipbuilders, said they would adopt similar strategies this year.

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.

South Korean shipbuilders were overtaken by their Chinese rivals in new orders acquired in the first four months of the year, a London-based market researcher said on Wednesday. South Korean shipbuilders such as Hyundai Heavy Industries Co and Samsung Heavy Industries Co received a combined 6.9 million compensated gross tons (CGTs) in new orders in the January-April period, up 6.9% from a year ago, Clarkson Research Studies said. However, South Korea maintained its No 1 ranking in the global shipbuilding industry in terms of backlogs of orders and the volume of vessels built, the market researcher said. South Korean shipbuilders' combined backlogs of orders totaled 46.4 million CGTs as of the end of April…