Greece Remains Biggest Customer for Korean Shipyards for 2nd Year

This file photo shows a liquefied natural gas carrier built by Daewoo Shipbuilding & Marine Engineering Co.

SEOUL, Nov. 21 (Korea Bizwire) — Greece placed the largest ship orders in South Korea this year, remaining a buttress for the nation’s shipbuilding industry, data showed Sunday.

Greek shipowners have placed orders for 52 ships totaling 2.05 million compensated gross ton (CGT) from Korean shipyards so far this year, according to global market researcher Clarkson Research Service.

This is equivalent to 20 percent of the orders received by Korean shipyards this year.

The European country remained the biggest customer for Korean shipyards for the second straight year.

Following Greece were Japan with 22 ships or 1.66 million CGT, and Norway with 14 ships or 1.22 million CGT.

Even when Korean shipyards were struggling, Greece did not reduce orders from South Korea, greatly contributing to helping the Korean shipbuilding industry maintain its top spot in the global shipbuilding market.

Angelicoussis Shipping Group, the largest shipper in Greece, has placed orders for 119 ships from Daewoo Shipbuilding & Marine Engineering Co. since 1994, the largest-ever ship contracts between a single shipyard and shipowner.

Minerva Marine Inc. ordered two liquefied natural gas (LNG) carriers, worth 589.7 billion won (US$438 million), from Samsung Heavy Industries Co. this month, while Atlas Marine inked a deal with Daehan Shipbuilding Co. to build two Aframax tankers last month.

J. S. Shin (js_shin@koreabizwire.com)