Korea ranks 1st in global shipbuilding orders in January

Korea ranked first in new global shipbuilding orders in January, outpacing its rival China, industry data showed Friday.

Korean shipyards clinched orders totaling 900,000 compensated gross tons (CGTs) for 13 ships, accounting for 62 percent of the global total at 1.46 million CGTs last month, according to London-based Clarkson Research Services.

China ranked No. 2 with 270,000 CGTs for 21 vessels, taking up 19 percent of the global total.

Korea's monthly performance marks a significant improvement from December, when it accounted for 6 percent of global orders, while China accounted for 82 percent of all new orders.

In terms of order backlog, China ranked first with 91.51 million CGTs, or 58 percent of the global total at 156.79 million CGTs as of end-December, which was down 1.32 million CGTs from a month earlier.

Korea ranked second with 37.02 million CGTs, accounting for 24 percent of the world total.

Clarkson's Newbuilding Price Index, a barometer of price changes in newly built ships, came to 189.38 last month, up 0.22 point from a year ago. (Yonhap)