China ranked first in the world in the number of shipbuilding orders

A sharp lag of South Korean shipbuilders from their Chinese competitors in the number of new orders in September 2021 was recorded.
According to Yonhap, Korean shipbuilders have lost their leading order in the past four months. Reported by IA "Krasnaya Vesna".

Korea's shipbuilding companies led by Hyundai Heavy Industries Co. received a total of 910,000 registered tons (CGT) in new orders last month, accounting for 28% of the 3.28 million CGT worldwide orders.

Chinese shipbuilders have far outstripped Korean shipbuilders with 1.95 million CGT new orders, accounting for 60% of the total market, with Japanese shipbuilders receiving orders totaling 260,000 CGT, or 8% of the global.

However, the average price of orders for ships received by Korean shipbuilders was $ 170 million per vessel, which is three times higher than the price of orders received by Chinese shipbuilders, which are estimated at $ 60 million per vessel. Between January and September 2021, new shipbuilding orders worldwide totaled 37.54 million CGT units, nearly triple the 13.22 million units a year ago.