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S. Korea Beats China in Feb. Shipbuilding Orders

Written: 2018-03-07 18:40:35Updated: 2018-03-07 18:48:03

S. Korea Beats China in Feb. Shipbuilding Orders

South Korea has reemerged as the world's leading shipbuilder in terms of monthly orders, pushing past China.

According to British maritime market analyst Clarksons Research on Wednesday, South Korean shipbuilders won orders equivalent to 910-thousand compensated gross tons(CGTs) last month, accounting for 52-point-three percent of the combined orders placed in the month. 

Compared to January, South Korean shipbuilders won 250-thousand CGTs more orders, while its market share jumped by 30 percent. 

China came in second in February at 450-thousand CGTs, down from 710-thousand CGTs in January, while Japan fell from third to the fifth place at 50-thousand CGTs, trailing behind Germany’s 160-thousand CGTs and Finland’s 120-thousand CGTs. 

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

China, however, still leads in cumulative ship orders in the first two months of the year at one-point-61 million CGTs, compared with South Korea’s one-point-57 CGTs. Japan came in third at 770-thousand CGTs. 

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