Shipbuilding industry retakes world's No 1 order contract, more than China and Japan combined

Seoul [South Korea], June 17 (ANI/Global Economic): Korean shipbuilding industry has taken No 1 again in the global shipbuilding industry last month. In particular, the contracted orders were more than China's and Japan's combined.
According to the industries on the 17th, the UK shipbuilding market analysis company Clarksons Research announced on the 10th that Korea's shipbuilding order contracts made in May were 1.42 million CGT (40 ships, 59 per cent) among a total contracts 2.42 million CGT (89 ships) based on data of 'order book by yard'.
China's contracts were 880,000 CGT (37 ships, 36 per cent) and Japan's were 110,00 CGT (5 ships, 5 per cent).
In the previous month, April, China was the no 1 in shipbuilding orders with 1.64 million CGT (53 ships, 54 per cent) among a total contracts 3.05 million CGT (98 ships). Korea (1.19 million CGT- 34 ships, 39 per cent) and Finland (80,000 CGT-2 ships, 3 per cent) followed.
World's cumulative orders (based on order book data by yard) from January to May were 19.07 million CGT, up 179 per cent year-on-year.
China's order were 8.92 million CGT (321 ships, 47 per cent), and Korea's 8.32 million CGT (212 ships, 44 per cent).
Korea's contracts increased seven times more (662 per cent) compared to 1.09 million CGT between January and May last year. It is the highest number of contracts in 13 years that Korea made 9.67 million CGT in January to May 2008.
Korea won 31 out of 67 LNG powered ships (46 per cent) ordered this year and 36 out of 48 LPG powered ships (75 per cent), show the competitive position in building eco-friendly fuel-powered ships.
Over the past three years, cumulative orders for ships from January to May were 1.31 million CGT in 2019, 6.83 million CGT in 2020 (47 per cent decrease YoY), and 1.97 million CGT (179 per cent increase) in 2021. By ship type, orders for container ships (more than 12,000 TEU), large LNG carriers (more than 140,000m^3), and very large crude carriers (VLCCs) increased, while orders for S-Max and A-Max oil tankers decreased.
The Clarkson New building Price Index was 136.1 points in May, continuing its rise for six months. This is the highest level in six and a half years since 137.8 points in December 2014. By ship type, container ships (13,000 to 14,000 TEU) and very large crude carriers (VLCC) increased by USD 2 million, reached USD 122.5 million and USD 95 million, respectively.
LNG carriers (174,000m^3) and S-max tankers also rose USD 1 million to USD 189 million and USD 63 million, respectively. The A-max tanker remained at USD 50.5 million. (ANI/Global Economic).