S. Korea stays top shipbuilding nation in 2008

SEOUL, Jan. 29 (Yonhap) -- South Korea retained its No. 1 ranking in the global
shipbuilding industry in terms of new orders, order backlogs and volume of
vessels built in 2008, according to a London-based market researcher Thursday.

According to Clarkson Plc., the nation's shipbuilders such as Hyundai Heavy
Industries Co. won a combined 17.5 million compensated gross tons (CGTs) in new
orders last year, accounting for 41.1 percent of all global new orders.
Consequently, South Korea has maintained the top spot in terms of new orders
since 2003.
Chinese shipbuilders took the second spot with orders totaling 14.9 million CGTs
last year, outpacing Japanese rivals which won a combined 4.89 million CGTs.
Clarkson said South Korean shipbuilders' combined order backlogs totaled 67.7
million CGTs, making up nearly 35.8 percent of 189.2 million CGTs in global
backlogs. China followed with order backlogs of 60.73 million CGTs.
South Korea, home to seven of the world's top 10 shipyards, has clinched
record-high orders in the past few years because of strong demand for crude
carriers and offshore exploration equipment amid lofty oil prices.
But hit by a global economic crisis, new shipbuilding orders worldwide fell 52
percent last year. The orders which South Korean shipbuilders won also fell 47
percent last year.
By shipbuilder, Hyundai Heavy Industries Co., the world's largest shipyard, had
12.93 million CGTs in order backlogs, trailed by Samsung Heavy Industries Co.
with 10.43 million CGTs and Daewoo Shipbuilding and Marine Engineering Co. with
9.98 million CGTs.
sam@yna.co.kr
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