shipbuilders-June orders

shipbuilders-June orders

S. Korean shipyards remain No. 2 in new global orders in June

SEOUL, July 7 (Yonhap) -- South Korean shipbuilders stayed far behind their Chinese rivals in new global orders to place second worldwide in June, industry data showed Friday.

Local shipyards clinched a combined 380,000 compensated gross tons (CGTs) in new orders last month, accounting for 14 percent of the global total at 2.76 million CGTs, according to the data from global market researcher Clarkson Research Service.

The global total, or 95 vessels, was 49 percent lower than that from a year earlier.

Chinese shipbuilders far outpaced South Korean players, bagging 2.20 million CGTs in new orders, or 80 percent of the total.

Last month, South Korean shipbuilders won orders to construct 10 vessels, compared with Chinese rivals' 71 ships.

Industry watchers said Chinese shipbuilders have been receiving more orders as South Korean firms have already obtained deals to keep them running for three years to come.

The data also showed the global order backlog reaching 114.51 million CGTs at the end of June, up 70,000 CGTs from a month earlier.

South Korea's order backlog stood at 38.80 million CGTs, or 34 percent of the world total, with China's amounting to 53.15 million CGTs with 46 percent.

Clarkson's Newbuilding Price Index, a barometer of price changes in newly built ships, stood at 170.91 points in June, up 9.38 points from a year earlier.

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