South Korea’s shipbuilding industry "TOP THE LIST"
China's lead has shrunk! South Korea’s shipbuilding industry "TOP THE LIST"
Relying on its advantages in the field of high-end ships such as LNG ships, the Korean shipbuilding industry continues to advance by leaps and bounds. In August, it continued to occupy the top position of new ship orders with a 57% global market share, and "dominant" for 4 consecutive months. Although China's shipbuilding industry still leads in cumulative orders this year, its lead is shrinking.
According to Clarkson’s latest statistics, in August, global orders for 49 new ships were transacted with 1.37 million CGT (revised gross tonnage). Among them, South Korea had 16 vessels of 780,000 CGT, accounting for 57% of the global market, an increase of 12 percentage points from the previous month; China followed closely with 23 vessels of 370,000 CGT, and the global market accounted for 27%, a decrease from the previous month. Japan ranked third with 7 190,000 CGTs, and the global market accounted for 14%, an increase of 4% from the previous month.
South Korean industry insiders said that although the number of new ship orders received by the Korean shipbuilding industry in August was lower than that of China, pneumatic fender dimensions, it was more than twice that of China in terms of CGT. The average tonnage of a single ship reached 48,750CGT, which is compared with 16086CGT per ship in China. South Korea mainly undertakes large-scale high-end ships.
As of August this year, the world’s cumulative number of new ship orders received was 32.39 million CGT, an increase of 165% compared with 12.21 million CGT in the same period last year. Among them, China’s cumulative order volume was 526 ships of 14.53 million CGT, a year-on-year increase of 158%, and the global market accounted for 45%, still ranking first in the world; South Korea’s cumulative order volume was 329 ships of 13.66 million CGT, accounting for 42 in the global market. %, continue to catch up with China.
South Korean industry insiders said that since the beginning of this year, 38 large-scale LNG ships of more than 140,000 cubic meters have been traded globally, pneumatic fender function of which South Korea has undertaken 37 ships, accounting for 97%, which proves the unique competitiveness of Korean shipbuilders in the field of this type of ship. At the same time, South Korea has an advantage in the large container ship market. If LNG ship orders for large-scale LNG projects in Russia, Qatar and other regions are formally signed, it is expected that South Korea’s cumulative orders this year will surpass China in the near future.
From the perspective of the volume of new ship transactions of various ship types, in the first 8 months of this year, the main ship types built by South Korean shipbuilding companies are showing an increasing trend. Among them, VLCC orders increased by 137% year-on-year, and Aframax tankers increased by 36% year-on-year to 140,000. Large-scale LNG ships above cubic meters increased by 104% year-on-year, and large-scale container ships above 12,000 TEU surged by more than 1,400% year-on-year.
As of the end of August this year, pneumatic floating fender, global orders for new ships were 84.68 million CGT, a slight decrease of 600,000 CGT from the end of July. In terms of countries, China’s hand-held new ship orders are 32.59 million CGT, accounting for 39%; South Korea’s 28.33 million CGT, accounting for 34%; Japan’s 9.56 million CGT, accounting for 11%. Compared with the same period last year, South Korea’s new ship orders increased by 8.67 million CGT, an increase of 44%, ranking first in growth; China increased by 4.72 million CGT, an increase of 17%; Japan decreased by 1.36 million CGT, a decrease of 12%.
While orders have grown, the price of newbuildings has also continued to rise. In August, the Clarkson Newbuilding Price Index rose 2 points from the previous month, reaching 145.8 points.
From the perspective of the price trend of various ship types, VLCC was US$103.5 million, an increase of US$1.5 million from the previous month; containerships of 13000~14000 TEU were US$141 million, an increase of US$2.5 million from the previous month; Suez tankers were US$70.5 million, The value of Aframax tankers was 56.5 million U.S. dollars, both of which increased; in particular, the 174,000 cubic meter LNG tankers rose by 2 million U.S. dollars from the previous month to reach 198 million U.S. dollars, which is about to exceed the 200 million U.S. dollar mark." for four consecutive month.
