April 25, 2024
Industrials
Korean shipyards bag lower Q1 orders than Chinese rivals
[THE INVESTOR] South Korean shipyards secured lower orders than Chinese rivals in the first three months of the year, industry data showed on April 4.
According to the data compiled by global research firm Clarkson Research Institute, Korean shipyards clinched new orders worth a combined 890,000 compensated gross tons last month to build 22 ships, following Chinese rivals’ 1.07 CGTs, or 58 ships.
In March alone, South Korean shipyards secured 140,000 CGTs worth of new orders to build seven ships. China took the top slot with 850,000 CGTs, or 23 ships. The order backlog held by South Korean shipyards came in at 17.67 million CGTs last month, slipping from 18.25 million CGTs a month earlier.
The shipbuilding industry has been reeling from mounting losses caused by a fall in new orders, order cancellations and increased costs.
By Alex Lee and newswires (alexlee@heraldcorp.com)
According to the data compiled by global research firm Clarkson Research Institute, Korean shipyards clinched new orders worth a combined 890,000 compensated gross tons last month to build 22 ships, following Chinese rivals’ 1.07 CGTs, or 58 ships.
In March alone, South Korean shipyards secured 140,000 CGTs worth of new orders to build seven ships. China took the top slot with 850,000 CGTs, or 23 ships. The order backlog held by South Korean shipyards came in at 17.67 million CGTs last month, slipping from 18.25 million CGTs a month earlier.
The shipbuilding industry has been reeling from mounting losses caused by a fall in new orders, order cancellations and increased costs.
By Alex Lee and newswires (alexlee@heraldcorp.com)
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