Young Vessels under 5 years old Comprise the Majority of Korean Carrier's fleet

Ships under 9 years old comprised over 70 percent of korean carriers.
According to the Ministry of Maritime Affairs and Fisheries, ships und
er 5 years old had a gross tonnage of 4,382,000 comprising 39.4 percen
t and ships over 5 and under 10 years old had a gross tonnage of 3,456
,000, constituting 31.1 percent of the total. Ships over 10 years old
were 29.5 percent of the total.
The percentage of ships under 5 years old remained steady until 1998,
comprising 49.3 percent in 1990 and 48.3 percent in 1998 but fell last
year to 39.4 percent.
On the other hand, ships under 10 years old and over 5 years old const
ituted 15.2 percent in 1990 and 24.7 percent in 1998 but were 31.1 per
cent of all ships last year.