Korea shipbuilding still number one

South Korea retained its No.1 ranking in the global shipbuilding industry in terms of new orders, order backlogs and volume of vessels built in 2008. The nation’s shipbuilders won a combined 17.5 million CGTs in new orders last year, accounting for 41.1% of all global new orders according to Clarkson Plc. Consequently, South Korea has maintained the top spot in terms of new orders since 2003.

Chinese shipbuilders took the second spot with orders totalling 14.9 million CGTs last year, outpacing Japanese rivals which won a combined 4.89 million CGTs.

Clarkson said South Korean shipbuilders’ combined order backlogs totalled 67.7 million CGTs, making up nearly 35.8% of 189.2 million CGTs in global backlogs. China followed with 60.73 million CGTs.

South Korea, home to seven of the world’s top 10 shipyards, has clinched record-high orders in the past few years because of strong demand for crude carriers and offshore exploration equipment amid lofty oil prices. But new shipbuilding orders worldwide fell 52% last year, hit by a global economic crisis. The orders which South Korean shipbuilders won also fell 47% last year.

By shipbuilder, Hyundai Heavy Industries, the world’s largest shipyard, had 12.93 million CGTs in order backlogs, trailed by Samsung Heavy Industries with 10.43 million CGTs and Daewoo Shipbuilding and Marine Engineering with 9.98 million CGTs.