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Korean Shipbuilders Finish 2nd in Global Order Standings in November

Korean shipbuilders placed second behind China in the global ship order rankings in November. If this trend holds, there is a high possibility that China will take the top spot in 2022.

Global ship orders in November totaled 2.86 million CGT (81 vessels), a decrease of 27 percent from the previous month, said Clarkson Research, a British shipbuilding and shipping market analysis agency, on Dec. 6.

China received 1.56 million CGT (46 ships, 55 percent), followed by Korea with 1.08 million CGT (18 ships, 38 percent).

The global cumulative order volume from January to November of this year came at 39.11 million CGT, down 11.91 million CGT (23 percent) from 51.02 million CGT in the same period of 2021.

China ranked first with 18.48 million CGT (651 vessels, 47 percent), ahead of Korea’s 15.75 million CGT for Korea (279 vessels, 40 percent).

As of the end of November, the global order backlog amounted to 107.19 million CGT, an increase of 880,000 CGT from October. Among them, Korea’s order backlog was 37.42 million CGT (35 percent).

During the same period, China’s order backlog sat at 46.99 million CGT (44 percent). Their order backlogs climbed by 730,000 CGT (2 percent) for Korea and 720,000 CGT (2 percent) for China from the previous month.

Source: Hellenic Shipping News

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