South Korea trailed China in terms of new shipbuilding orders in the first half of this year as local yards were unable to meet cheap prices offered by Chinese rivals, according to a report on www.tradingmarkets.com. The Ministry of Knowledge Economy said local shipbuilders, such as HYUNDAI HEAVY INDUSTRIES CO., SAMSUNG HEAVY INDUSTRIES CO. and DAEWOO SHIPBUILDING & MARINE ENGINEERING CO., clinched 4.62 million compensated gross tons (CGT) in new orders in the January-June period, up 450 per cent from a year earlier.
(Source: http://www.tradingmarkets.com)