100% orders for high value-added ships… Ranked #1 in the world for 4 consecutive months

Hyundai Heavy Industries LNG carrier.  (Photo = Hyundai Heavy Industries)
Hyundai Heavy Industries LNG carrier. (Photo = Hyundai Heavy Industries)

As the first achievement of this year, the Korean shipbuilding industry achieved the world’s first place in ship orders in January.

The Ministry of Trade, Industry and Energy said that Korea won an order of 930,000 CGT, 51.7% of the world’s 1.8 million CGT ship orders in January, and the order rate increased 12 times from 4.4% last year. Since October last year, it has maintained the No. 1 order volume for 4 consecutive months.

Compared to China, which is a major rival, the order volume is 1.6 times and the order amount is 2.2 times, which is relatively high compared to the order volume.

The Ministry of Industry said that it was because it has won orders for 8 large container ships (over 120,000 TEU), 2 VLCCs (over 200,000 DWT), and 2 LNG carriers (over 174㎦).

The Ministry of Industry also predicted that the growth of container ship orders in the first half of the year will continue due to the recovery of ship orders delayed by Corona 19 in 2020 and the recent increase in cargo volume, with the recent increase in containership orders (900,000 CGT) due to strong freight rates.

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The Ministry of Industry predicted that domestic orders in the first half of the year will be good, considering that the proportion of Korean containership orders in January was 51% (460,000 CGT).

The Ministry of Industry and Industry continues to support the technology development of smart and eco-friendly ships in order to proactively respond to the new market of smart ships and eco-friendly ships, so that the Korean shipbuilding industry can win the world’s No. I plan to apply.





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