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Korean Shipbuilders Maintain Three Top Rankers in Terms of Remaining Orders

Korean Shipbuilders

Korea’s Big Three shipbuilders remained the world’s top three in terms of orders remaining.

Korean shipbuildersDaewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries, Samsung Heavy Industries — remained the world’s top three in terms of orders remaining.

According to the August issue of the World Shipyard Monitor published by shipbuilding and marine analysis agency Clarkson Research on August 18, the shipyard with the largest order backlog in the world as of the end of last month is DSME (5,964,000 CGT and 82 vessels). Compensated Gross Tonnage (CGT) is an indicator of the amount of work that is necessary to build a given ship and is calculated by multiplying the tonnage of a ship by a coefficient, which is determined according to type and size of a particular ship.

Hyundai Heavy Industries (Ulsan, 33,300 CGT and 69 vessels) and Samsung Heavy Industries (Geoje Island, 303,900 CGT and 60 vessels) took second and third place, respectively.

Compared with the end of June, remaining orders for DSME grew by 3,000 CGT, while Hyundai Heavy Industries and Samsung Heavy Industries fell by 216,000 CGT and 106,000 CGT, respectively.

These three Korean companies were followed by Shanghai Waigaoqiao (2,204,000 CGT and 51 vessels) of China and Imabari (1,835,000 CGT and 30 vessels) of Japan. Compared to last June, there was no change in the top five rankings.

However, Hyundai Samho Heavy Industries Co. (9.43 million CGT and 38 vessels) and Hyundai Mipo Shipbuilding (139.9 million CGT and 65 vessels) of Korea ranked ninth and tenth, respectively. The two dropped by three notches and one notch, respectively, from the end of June. Moreover, there is no big difference in order backlogs between France’s STX France (12.22 million CGT and eight vessels) which placed 11th and Finland’s Meyer Turku Shipyard which ranked 12th (12.37 million CGT and eight vessels) so the latter can overtake the former any time, according to industry experts.

The Original posted by Jung Min-hee/Business Korea

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