S. Korean shipbuilders sweep 61% of global vessel orders last month


South Korean shipbuilders dominated 61 percent of global orders last month to keep lead over Chinese competitors.

According to shipping data researcher Clarkson Research on Friday, Korean shipwrights commanded 1.32 compensated gross tonnage (CGT) or 22 vessels, out of last month’s global orders of 2.17 million CGTs or 56 vessels.

China’s stopped just about half at 550,000 CGT.

In cumulative orders until September this year, Korea and China shared the lead each commanding 13.22 million CGT and 13.27 million CGT, 44 percent of global order book of 30.3 million CGT.

The global backlog of orders declined 600,000 CGT from a month ago to 102.58 million CGT, with China holding 43.34 million CGT or 42 percent of the total and Korea 36.06 million CGT or 35 percent.

The Clarkson Newbuilding Price Index hit fresh high of 162.27. It has been on the rise since December 2020. By vessel type, the price of LNG carriers with a tank capacity of 174,000 m³ or larger per ship rose to $244 million from $240 million.

[Image Source: Samsung Heavy Industries Co.]

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