Korean Media: China Secures 1,131 Ship Orders Globally, Accounting for 72% of Total, While South Korea Wins Only 195
On August 8, South Korean media outlet JoongAng Ilbo published an article stating that Chinese shipbuilders secured 1,131 vessel orders from the global market in the first half of this year—double the number from the same period last year.
South Korean shipbuilders obtained only 195 vessel orders, leading to predictions that the gap in market share between the two countries may widen further in the future.
A total of 1,481 vessels were ordered globally in the first half of this year. Of these, Chinese shipbuilders received 1,131 orders with a total gross tonnage of 31 million CGT, accounting for approximately 72% of the global market share.
In the first half of this year, South Korean shipbuilders secured 195 vessel orders with a total gross tonnage of about 8 million CGT. Although this represents a growth of around 60% compared to the same period last year, their market share remains around 20%. Some forecasts suggest the gap in market share between the two nations could expand to about 53 percentage points this year.
However, South Korean shipbuilders follow a profit-oriented strategy rather than focusing on volume. This means they selectively take on high-profit ship types, such as LNG carriers.
According to data from market research firm Wood Mackenzie, South Korea accounts for approximately 67% of the global backlog for LNG carrier orders.
Original Source: toutiao.com/article/1872944429540364/
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