South Korean shipbuilders have secured orders worth some $33.2 billion (30.6 trillion won) in the first half of the year, riding on a favorable business environment stemming from brisk industrial activity around the world.
According to the Ministry of Commerce, Industry and Energy, domestic shipyards received orders to build 364 ships, which translates into 11.32 million compensated gross tons (CGTs) worth $33.2 billion, up 51.3 percent from a year earlier.
This marks the first time in the country’s shipbuilding history that shipbuilding orders for a six-month period have exceeded $30 billion, the ministry said in a press release.
Local shipyards, in particular, won orders for all 13 LNG (liquefied natural gas) ships from around the world in the first half, contributing a lot to the surge in the total ship orders,’’ it said.
An increase in cost per ship also contributed to swelling coffers. Local shipyards received $2,933 for each CGT of shipping they agreed to build in the first half compared to $2,284 a year earlier.
Enhanced technologies and new construction methods, coupled with expanded facilities and equipment, also helped the local shipyards see a large increase in this year’s building capacity.
Local shipbuilders completed ships totaling 5.57 million CGTs in the first half of the year, up 12.1 percent from the latter half of last year. Since the first quarter of 2004, they have been building at a rate of more than 2 million CGTs every quarter.
Amid favorable trends in the global shipbuilding industry, domestic shipyards have reserved orders for 1,346 ships which amount to 43.82 million CGTs worth $121.6 billion, large enough to enable them to build ships for four years,’’ a ministry official said.
South Korea is a shipbuilding powerhouse with Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) ranked as the top three shipyards in the world.
According to the Ministry of Commerce, Industry and Energy, domestic shipyards received orders to build 364 ships, which translates into 11.32 million compensated gross tons (CGTs) worth $33.2 billion, up 51.3 percent from a year earlier.
This marks the first time in the country’s shipbuilding history that shipbuilding orders for a six-month period have exceeded $30 billion, the ministry said in a press release.
Local shipyards, in particular, won orders for all 13 LNG (liquefied natural gas) ships from around the world in the first half, contributing a lot to the surge in the total ship orders,’’ it said.
An increase in cost per ship also contributed to swelling coffers. Local shipyards received $2,933 for each CGT of shipping they agreed to build in the first half compared to $2,284 a year earlier.
Enhanced technologies and new construction methods, coupled with expanded facilities and equipment, also helped the local shipyards see a large increase in this year’s building capacity.
Local shipbuilders completed ships totaling 5.57 million CGTs in the first half of the year, up 12.1 percent from the latter half of last year. Since the first quarter of 2004, they have been building at a rate of more than 2 million CGTs every quarter.
Amid favorable trends in the global shipbuilding industry, domestic shipyards have reserved orders for 1,346 ships which amount to 43.82 million CGTs worth $121.6 billion, large enough to enable them to build ships for four years,’’ a ministry official said.
South Korea is a shipbuilding powerhouse with Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) ranked as the top three shipyards in the world.