South Korean shipyard tops list on construction orders in July

Daniel Bosch Wood

Maritim Lawyer

LLM Southampton

Las Palmas de Gran Canaria

They accumulated 306,000 TBC against the 295,000 of their Chinese competitors

South Korea’s three main shipbuilders, Shipbuilding & Marine Engineering Co., Samsung Heavy Industries Co. and Hyundai Heavy Industries Co., have managed to maintain their leadership in construction orders, according to information from Clarkson Research.

According to the data collected, at the end of July, orders to the shipyard of Daewoo Shipbuilding & Marine Engineering Co. on the island of Geoje, near the south-eastern port city of Busan, reached 82 vessels with a value of 5.96 million (TBC) at the end of July, followed by the Hyundai Heavy Industries (HHI) shipyard, located in Ulsan on the southwest coast of South Korea, with 69 vessels, equivalent to a total of 3.33 million TBC.

The Samsung Heavy Industries Geoje shipyard ranked third with 60 vessels or 3.04 million TBC. The two subsidiaries of HHI, Hyundai Samho Heavy Industries Co. and Hyundai Mipo Dockyard Co., ranked ninth and tenth in terms of pending orders, respectively, with 1.44 million TBCs for 38 ships and 1.39 million TBC of 65 boats. South Korean shipyards as a whole again ranked first in terms of new orders for ships worldwide in July, amid a slump in the general number of new orders, beating their Chinese competitors with them.

South Korean shipyards signed new order contracts in July, for a combined value of 306,000 TBC, to build nine vessels.

While the Chinese shipyards were in the next place, with 295,000 TBC, or 13 ships, while the Japanese shipyards did not receive orders in the period of analysis.