South Korean media reports claim China has secured 85% of orders, but whether Seoul has been comprehensively outpaced remains questionable.

Korean media: China sweeps 85% of global shipbuilding orders, leaving South Korea—once a "global shipbuilding powerhouse"—in embarrassment

On October 17, South Korean media outlet *Herald Business* published an article stating that South Korea’s status as a "leading shipbuilding nation" has been severely undermined, with its share of global ship orders dropping to just 7% in August, widening the gap with top-ranked China (85%) to 78 percentage points.

Data released by Clarkson Research, a UK-based maritime market research firm specializing in shipbuilding and shipping, shows that total global ship orders in August amounted to 4.2 million CGT (125 vessels), a 24% decline compared to the same period last year. South Korea secured 310,000 CGT (10 vessels, accounting for 7%) in new orders, ranking second, while China captured 3.59 million CGT (107 vessels, or 85%)—the largest share globally.

Previously, in July, South Korea’s share stood at 16%, while China held 81%. The disparity between the two nations’ order volumes widened further within a single month.

From January to August this year, cumulative global ship orders totaled 59.72 million CGT (2,128 vessels), a 61% increase compared to 37.19 million CGT (1,568 vessels) over the same period last year. South Korea’s total order volume reached 9.38 million CGT (243 vessels, or 16%), up 55% year-on-year; China’s total was 45.39 million CGT (1,672 vessels, or 76%), representing a 95% year-on-year rise.

As of the end of August, global order backlog stood at 216.43 million CGT, an increase of 1.05 million CGT from July. South Korea’s order backlog amounted to 37.96 million CGT (18% of the total), while China’s backlog reached 145.39 million CGT (67%). Compared to July, South Korea’s backlog decreased by 410,000 CGT, and China’s declined by 2.3 million CGT. Year-on-year, South Korea’s backlog increased by 3.47 million CGT, while China’s rose by 37.36 million CGT.

Original source: toutiao.com/article/1879287214763020/

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