As of May this year, the accumulated shipbuilding orders of China are still the first in the world,

According to Clarkson Research, a British shipping analysis company, on June 9, the ship order worldwide fell by 60 percent to 570,00 CGT(standard tonnage equivalent tons) last month, accounting for 40 percent of deliveries. Ranking by country, China, won 270,000 CGT(13 ships, accounts for 47 percent), still be the first in shipbuilding industry. South Korea on the second with 230,000 CGT(8 ships, accounts for 40 percent) and Japan on the third with 50,000 CGT(2 ships, accounts for 9 percent).

South Korea’s order volume last month remained at a similar level to the previous month while China’s fell slightly, which narrowed the gap between them to within 10 percent.

Korea’s orders from European and Asian shipowners remained at a similar level to April(230,000 CGT with 8 ships). On the other hand, China, in which domestic orders accounting for 85 percent, saw a 73 percent decrease in new orders compared to deliveries)730,000 CGT with 38 ships) due to a decline in domestic orders. As a result, China’s share of new shipbuilding orders in May fell 8 percentage points from 55 percent in April.

From January to May this year, the largest accumulated new orders per country were still from China, with 2.88 million CGT(121 ships, accounts for 62 percent), South Korea with 900,000 CGT(32 ships, accounts for 19 percent), and Japan with 490,000 CGT(31 ships, accounts for 11 percent). China is still far ahead of other countries.

As three Korean shipbuilders signed a space(dock) reservation agreement with Qatar Petroleum for the construction of large liquefied natural gas(LNG) ships, South Korea’s share is expected to increase significantly in the second half of the year when the order of large LNG projects in Qatar, Russia and Mozambique grows at fully capacity.

By the end of May, accumulated global orders stood at 72.25 million CGT, decreased 2 percent from the end of April. Accumulated orders in hand of China were26.24 million CGT(accounts for 36 percent), South Korea 22.2 million CGT(accounts for 28 percent), and Japan 12.4 million CGT(accounts for 14 percent).