South Korea is in the running to finish the year in second place behind China in cumulative ship orders.

According to British maritime market analyst Clarksons Research on Friday, South Korean shipbuilders won orders totaling five-point-74 million compensated gross tons(CGTs) in the January-November period compared with China’s seven-point-13 million CGTs. Japan was a far third with one-point-82 CGTs.

CGT is a measurement of how much work is needed to build a ship

South Korea also trails both China and Japan in terms of order backlog. As of early this month, China had the biggest order backlog of just over 27 million CGTs, followed by Japan at 15-point-83 million CGTs and South Korea at 15-point-80 million CGTs.