South Korea Becomes World’s Top Shipbuilder In January, Surpassing China

South Korea secured the highest number of global shipbuilding orders in January, surpassing China, according to Clarkson Research, a British firm specialising in shipbuilding and shipping market analysis.

The data reveals that South Korean shipyards clinched 900,000 compensated gross tons (CGT) for 13 vessels, accounting for 62% of global ship orders.

On the other hand, China managed only 270,000 CGT for 21 ships, accounting for only 19% of the global orders.

Despite China having more ships, its focus on smaller, low-value vessels kept its CGT lower than South Korea, which specialises in large, high-value ships.

The global shipbuilding industry witnessed a sharp 74% decline in new orders, with total orders dropping to 1.46 million CGT compared to the same pe…

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