S. Korea overtakes China as No. 1 in shipbuilding orders in Oct.

S. Korea overtakes China as No. 1 in shipbuilding orders in Oct.

November 19, 2019 1 By Kody Olson


a record number of shipbuilding orders
and order value in October’s expected to have helped South Korea keep its top
position in the shipbuilding industry which is faced fierce competition from
China Kim il-sung reports South Korea overtook China to reclaim its number-one
spot in global shipbuilding orders last month data by Clarkson research services
shows Korea won orders totaling one point two nine million compensated gross
tons in October that’s up more than 300 percent on-year order value also went up
threefold to 2.6 billion u.s. dollars last month reaching a record high this
came on the back of growing LNG projects and increasing orders of eco-friendly
ships due to stricter environmental regulations across the world Korea won a
total of 17 ships including for LNG ships and 11 very large crude oil
carriers accounting for more than 80 percent of ship orders placed worldwide
last month in the first ten months through October Korea’s one near 16
billion dollars of orders which is more than any other country Korea is followed
by China Italy and Japan order volume went down 35 percent to six point nine
million sea GTS between January and October bo is still the highest in the
world surpassing china’s 6.1 million sea GTS South Korea’s trade ministry says
the increase in global orders for value-added ships like LNG carriers is
expected to continue on demand from Qatar Mozambique and Nigeria until early
next year and expects Korea to secure its number-one spot in shipbuilding
order value and volume for this year Kim Azam and young news