In Jan-June, the South Korean shipbuilding industry received orders of 10.88mn CGT, which accounts for 44pc of the 24.52mn CGT global total, according to local media reports citing the data by the Ministry of Trade Industry and Energy. The volume hit a 13-year high for the country’s shipbuilding industry, since 2006-2008 boom.
New orders surged by 724pc from the prior-year period, when the world grappled with the COVID-19 pandemic. From Jan-June 2019, orders increased by 183pc.
Of the total new orders, high value-added ships accounted for 7.23mn CGT or 61pc of the world total of 11.89mn CGT. Liquified Natural Gas ships (LNG) had a lions share in this segment with 100pc of the global total or 16 units.
Additionally, there were orders for 27 units of VLCCs which account for 87pc of the global total and 81 units of large container ships (12,000 and above TEUs) that account for 51pc of total orders across the world.