South Korea tops world in shipbuilding orders in January

Surpassing rival China, South Korea rose to the top of the world in the number of shipbuilding orders in January.

A ship built by Samsung Heavy Industries, South Korea. (Source: Korea Times)

According to the Korea Times, South Korean shipyards won orders totaling 900,000 compensated gross tons (CGTs - a statistical tool to assess shipbuilding capacity on a macroeconomic scale) for 13 ships, accounting for 62% of the global total of 1.46 million CGTs last month. According to UK-based global market research firm Clarkson Research Services, China ranked second with 270,000 CGTs for 21 ships, accounting for 19% of the global total.

The shipbuilding industry, once seen as the driving force of the South Korean economy for many years, is now facing strong competition from China.

Korean shipbuilding enterprises mainly won bids for liquefied natural gas (LNG) carriers, environmentally friendly ships with high added value due to their quick adaptation to the trend of gradually reducing carbon emissions and digital transformation in the shipbuilding industry.

Source: https://baoquocte.vn/han-quoc-dung-dau-the-gioi-ve-don-dat-hang-dong-tau-thang-1-303482.html