A liquefied natural gas carrier built by Hanwha Ocean Co. (Image courtesy of Yonhap)
SEOUL, Apr. 3 (Korea Bizwire) — South Korean shipbuilders ranked first in new global orders in the first three months of 2024 in terms of value, outpacing their Chinese rivals, data showed Wednesday.
Local shipyards won US$13.6 billion in new orders over the January-March period, up 41.4 percent on-year, according to the Ministry of Trade, Industry and Energy, citing data compiled by Clarkson Research Service.
The amount represents around 45.5 percent of the annual order of $29.9 billion posted in 2023.
The latest performance was above the $12.6 billion posted by Chinese shipyards, the data also showed.
South Korea also accounted for 44.7 percent of total global orders over the period. It marked the first time for South Korea to rank No. 1 in terms of new orders received since the fourth quarter of 2021.
“South Korea’s shipbuilding industry has been making efforts to promptly address the global trend in terms of carbon neutrality and the digital transition, winning orders in eco-friendly and premium vessels,” the ministry said in a statement.
The country won all global orders for liquefied natural gas carriers and ammonia ships, it added.
To maintain growth the industry ministry said it plans to come up with a comprehensive roadmap aimed at enhancing the technological competitiveness of local shipyards in the first half of 2024.
(Yonhap)
