South Korea recaptured the top spot in global shipbuilding orders last month, industry data showed, on the back of its dominance in the liquefied natural gas carrier market.
In October, local shipyards, led by Hyundai Heavy Industries, won orders totaling 1.29 million compensated gross tons to build 17 ships, accounting for 86 percent of the orders placed around the globe, according to London-based Clarkson Research Services, the world’s leading provider of data for the shipping and shipbuilding industries.
This is the first time this year that South Korea has surpassed 1 million CGTs in monthly orders.
In the first 10 months of the year, South Korean shipbuilders secured orders totaling 6.95 million CGTs worth $15.9 billion, ahead of their Chinese rivals who bagged a total of 6.11 million CGTs in orders worth $13.6 billion.