This is a liquefied natural gas carrier of 174,000 cubic m built and delivered by Hyundai Heavy Industries. (Korea Shipbuilding and Offshore Engineering)

By Wu Jinhua

Domestic shipbuilders last month eclipsed their Chinese counterparts for the world lead in orders.

Global shipbuilding orders in July reached 2.37 million compensated gross tons (CGT), down 46% from the same month last year, according to Clarkson Research, a U.K.-based company that analyzes the global shipbuilding and shipping markets.

Korea clinched deals worth 960,000 CGT, or 40% of the orders, for the world lead. China was second with 570,000 CGT, or 24%.

In tons per vessel ordered, Korea's figure of 53,000 CGT was 2.8 times China's 19,000.

Korea thus led the world in shipbuilding order volume for the first time this year.

In backlogged orders, China led with 75.52 million CGT (53%), followed by Korea with 38.93 million (27%). 

The Clarkson Newbuilding Price Index reached 187.98 last month, up 9% year on year for its 44th month of increase since November 2022.

jane0614@korea.kr