Korean Shipbuilders Win 44.1 PCT of Global Orders in 2006

Korean Shipbuilders Win 44.1 PCT of Global Orders in 2006

Korean shipbuilders received 44.1 percent of global orders in the first three quarters of the year, a London-based market researcher said.

Korea, home to seven of the world's top 10 shipyards, saw local companies clinch a record amount of orders this year from strong demand for crude carriers and offshore exploration equipment amid lofty oil prices.

Between January and September, orders won by local shipyards amounted to 17.4 million compensated gross tons (CGTs) out of orders world-wide worth 39.5 million CGT, Clarkson Plc. said.

The runners-up were China with 10.5 million CGTs, Japan with 4.8 million CGTs and the European Union (EU) with 3.9 million CGTs, the researcher said.

As of the end of September, the combined order backlogs of domestic companies came to 47.2 million CGTs, accounting for 38.4 per cent of the world's total of 122.8 million CGTs. China trailed with 24.9 million CGTs and Japan had 24.7 million CGTs. The EU had an order backlog of 18.5 million CGTs, it said.

In the nine-month period, the volume of ships built by local shipbuilders reached 8.7 million CGTs, taking up 38.2 per cent of the global total of 22.8 million CGTs, followed by Japan, the EU and China with 6.6 million CGTs, 3.5 million CGTs and 2.8 million CGTs, respectively, it said.