The Korea Herald


Troubled Korean shipbuilders top June ranking

By Ahn Sung-mi

Published : July 8, 2016 - 17:22

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[THE INVESTOR] Despite the protracted slump in the local shipping industry, South Korean shipbuilders took the largest volume of new orders of vessels in June, industry data showed on July 8.

According global research firm Clarkson Research Services, South Korean shipbuilders clinched new contracts of 370,000 compensated gross tonnage, or eight ships, out of the total 960,000 CGT, or 51 ships, in June. 

DSME shipyard DSME shipyard

This is the first time South Korean shipbuilders ranked No.1 in terms of monthly contracts since October 2015.

China followed the ranking with 290,000 CGT, or 13 ships, and Japan ranked third with 210,000 CGT.

Meanwhile, the Korean shipbuilding industry suffered a record low orders in the first half with 830,000 CGT, a 13.1 percent of the global order of 6.3 million CGT. Compared to last year, Korean shipbuilder’s first half performance has sunk by 88 percent in terms of CGT.

The first half figure for the global shipping industry is also the lowest on record since the data was first released by Clarkson in 1996.

By Ahn Sung-mi (