Korean Shipbuilders Top Chinese in January After Return to Profits in 2024

The rivalry between China and South Korea’s shipbuilders continues to heat up. While there is growing concern due to China’s apparent domination of the market, South Korea’s shipbuilders achieved strong results in 2024 and continue to carve out the high-end market.

After posting a dismal new order performance in December booking only six percent of new orders versus 82 percent by the Chinese shipbuilders, South Korea’s industry rebounded to the leadership position in January 2025. It is the first time in several months South Korea received the largest percentage of new orders and it also demonstrated the success of the industry’s focus on higher-value projects and ships.

According to data from Clarkson Research the South Korean industry booked 62 percent of the global orders in January based on tonnage. It received orders for 900,000 CGT (compensated gross tons). That compared with the Chinese yard…