New Ship Building Orders for Korean Yards

South Korean shipyards emerged on top for new orders in April, Business Korea reported quoting industry data.

News ID: 73885

Date: 12 May 2017 - 11:33

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, MANA correspondent reported.

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.

The order backlog held by South Korean shipyards came in at 17.62 million CGTs last month, slipping from 17.67 million CGTs a month earlier.