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South Korean Regains Top Spot In May Shipbuilding Orders

Logistic News - Published on Mon, 17 Jun 2019

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Yonhap reported that South Korea edged China for the first time in three months to recapture the No 1 spot in global shipbuilding orders. In May, local shipyards, led by Hyundai Heavy Industries Co, won orders totaling 640,000 compensated gross tonne to build 16 ships, accounting for 60 percent of orders placed around the globe, according to London-based Clarkson Research Services Ltd, the world’s leading provider of data for the shipping and shipbuilding industries. Chinese shipbuilders bagged 270,000 compensated gross tonne in orders to build eight vessels, accounting for 26 percent of the global orders. Japan came in third with 60,000 compensated gross tonne for three ships.

With the global shipping industry taking a hit from the on-going US-China trade dispute, new shipbuilding orders in the first five months of the year dropped 38 percent from a year earlier to 9.41 million compensated gross tonne.

In May alone, new shipbuilding orders reached 1.06 million compensated gross tonne, also sharply down from the previous month’s 1.44 million compensated gross tonne.

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Posted By : Mohan Sharma on Mon, 17 Jun 2019
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