Report: Korean Shipbuilders Dominate Global Orders

Reports indicate that South Korea's shipbuilders ranked No. 1 through No. 7 worldwide in terms of order backlogs for the first time ever as of the end of February, a London-based market researcher said Monday. Seven domestic shipyards' order backlogs accounted for 35 percent of the global industry's total of 107.34 million compensated gross tons (CGT), Clarkson Plc. said. Hyundai Heavy Industries ranked No. 1 worldwide with an order backlog of 10.82 million CGT, it said. Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries Co. were the second and third largest with order backlogs of 7.82 million CGT and 7.44 million CGT, it said.

Industry leader Hyundai Heavy's two subsidiaries _ Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries _ were fourth and fifth, with order backlogs of 3.93 million CGT and 3.27 million CGT. According to Clarkson, STX Shipbuilding Co. and Hanjin Heavy Industries & Construction climbed a notch each to sixth and seventh place, respectively. Their order backlogs amounted to 2.13 million CGT and 2.10 million CGT, oveertaking Japan's Mitsubishi Heavy Industries Ltd., which had been No. 6 in the industry. The Japanese industry leader was placed eighth in the world with an order backlog of 2.09 million CGT. Japan's Ishikawajima-Harima Heavy Industries and Tsuneishi Heavy Industries Cebu ranked ninth and tenth with order backlogs reaching 1.73 million tons and 1.72 million tons, respectively. Source: Hankooki.com