Invest KOREA

According to Yonhap News,

(SEOUL=Yonhap News) Korean shipbuilders won the largest amount of orders in the world in February, outperforming China and Japan.

According to Clarkson Research Services on March 5, the global order quantity reached 1.18 million CGT (compensated gross tonnage, 46 ships) in February, the lowest amount since September, 2009 (770,000 CGT).

Korean shipbuilders accounted for 58.1 percent (687,000 CGT, 21 ships) of the total orders despite the fall of the global order quantity, outperforming China (386,000 CGT, 19 ships) and Japan (85,000 CGT, 3 ships) and reclaiming the top spot.

Korea had the most orders for three months starting last October. Japan had the most in January.

With an average monthly order quantity of less than 50 CGT since last October, China is seeing a slump in orders due to exacerbated market conditions for bulk carriers.

The global order backlog in February amounted to 111.75 million CGT, a 2 million CGT decrease from that of January. China has the largest backlog, with 43.7 million CGT, followed by Korea (32.38 million CGT) and Japan (19.68 million CGT).

ykhyun14@yna.co.kr

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