South Korea Tops China in January Shipbuilding Orders

South Korea beat China in global shipbuilding orders in January, according to Clarkson Research Services data.

South Korean yards received orders for 900,000 CGT for 13 ships, 62% of the global total. This included 12 LNG dual-fuel container ships ordered from HD Korea Shipbuilding & Offshore Engineering and one from Samsung Heavy Industries.

Chinese yards received orders for 270,000 CGTs for 21 vessels, 19% of the global total.

The global ship order volume in January was reported at 1.46 million CGT, a 74% decrease compared to the same period last year.

In December, South Korea accounted for just 6% of orders compared to China’s 82%.

China has an order backlog of 91.51 million CGTs, 58% of the global total, where South Korea has 24%.