Korea reclaims top spot in global shipbuilding orders in February

Korean shipbuilders secured 50% of new orders in terms of global compensated gross tons, followed by China with 41%

Container ships at the port of Busan
Container ships at the port of Busan
Hyung-Kyu Kim 1
2024-03-06 17:17:36 khk@hankyung.com
Shipping & Shipbuilding

South Korean shipbuilders reclaimed the global No. 1 position in new orders last month for the first time since October 2023, according to data by UK-based Clarksons Research on Wednesday.
 
Global shipbuilding orders signed in February reached 3.4 million compensated gross tons (CGTs), up 18% from a year ago. Korean shipbuilders took up 50% of global CGTs, followed by China's 41%.

By number of ships, China won global orders for 59 ships, while Korea secured 28 units.

As of the end of February, not-yet built globally ordered ships reached 125.9 million CGTs. Chinese shipbuilders topped the list with 50% of the figure, followed by Korean rivals with 31%.

Clarksons’ newbuild price index rose 11% on-year to 181.45 on Wednesday.

By average price per vessel, a liquefied natural gas (LNG) carrier with more than 174,000 cubic meters costs $265 million. The tanker was followed by large container ships at $237 million and very large crude carriers (VLCC) at $128 million.

Write to Hyung-Kyu Kim at khk@hankyung.com
Jihyun Kim edited this article.
#Korea shipbuilder #global shipbuilding orders #Chinese shipbuilder #global compensated gross tons #Clarksons Research newbuild price #Clarksons Research Korean shipbuilders

Korean shipbuilders tighten grip on ammonia carrier market

Korean shipbuilders tighten grip on ammonia carrier market

Samsung Heavy Industries shipyard in South Korea (File photo, courtesy of Yonhap) South Korean shipbuilders continued to win very large ammonia carrier (VLAC) orders, expanding their shares in the global eco-friendly vessel market to improve their profitability.HD Hyundai Heavy Industries Co.,

Korea’s Hanwha Ocean quits money-losing container shipbuilding business

Korea’s Hanwha Ocean quits money-losing container shipbuilding business

A gigantic crane at Hanwha Ocean's Geoje shipyard in South Gyeongsang Province South Korea’s Hanwha Ocean Co., the world’s third-largest shipbuilder, has decided to exit the money-losing container shipbuilding business to focus instead on profitable vessels such as liquefied natural

Korean shipbuilders shrug off concerns over lower new ship prices

Korean shipbuilders shrug off concerns over lower new ship prices

An LPG carrier built by HD Korea Shipbuilding & Offshore Engineering (File photo, courtesy of HD Korea Shipbuilding & Offshore Engineering) South Korean shipbuilders shrugged off concerns of an industry peak-out boosted by the first fall of new vessel prices in 45 weeks and lower used s

Korean shipbuilders slide to 2nd place after China in November orders

Korean shipbuilders slide to 2nd place after China in November orders

HD Korea Shipbuilding & Offshore Engineering's liquefied carbon dioxide carrier South Korean shipbuilders slid to second place in new shipbuilding orders last month, yielding the top spot back to their Chinese rivals.According to market research firm Clarksons Research, the global shipbuild

Korean shipbuilders seek overseas yards for surging orders

Korean shipbuilders seek overseas yards for surging orders

Hanwha Ocean is building four liquefied natural gas carriers at one dock in South Korea (File photo, courtesy of Hanwha Ocean) South Korean shipbuilders are seeking overseas production bases through mergers and acquisitions to meet soaring demand across the world as they have secured work for t
(* comment hide *}