S. Korea Keeps Top Spot in Shipbuilding Beating China, Japan in Q3
By Aiswarya Lakshmi
Monday, October 5, 2015
South Korean shipbuilders have ranked first in the world outpacing Chinese and Japanese rivals in terms of new orders in the third quarter of the year, reports Yonhap quoting Clarkson Research Services.
South Korean shipyards bagged new orders totaling 2.11 million compensated gross tons (CGTs) last month, trailing Chinese shipbuilders at 3.48 million CGTs and Japanese companies with 2.36 million CGTs.
The country retained its status as the world's leading shipbuilding country in terms of new orders between February and June. It was relegated to second place in July and to third in August.
In the first nine months of the year, South Korean shipbuilders secured new shipbuilding orders totaling 8.77 million CGTs, followed by China with 6.33 million CGTs and Japan with 5.99 million CGTs.
As of end-September, China had the largest order backlog, totaling 40.42 million CGTs, trailed by South Korea with 32.08 million CGTs and Japan with 21.2 million CGTs, according to the data.