ShippingWatch

South Korea accounts for over half of new ship orders globally

Asia continues to completely dominate the shipbuilding market, with South Korea and China in first and second place, respectively.

Photo: Handout/Reuters/Ritzau Scanpix

More than half of orders for new ships going to the global fleet were placed with South Korean yards in July, writes news agency Yonhap based on fresh figures from Clarksons Research Service.

The orders landing at South Korean yards made up 1.16 million compensated gross tonnes (cgt) or 55% of the global total of 2.1 million cgt.

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