Korean shipbuilders global market share inches up in 2022

Korean shipbuilders saw their global market share edge up in 2022 from a year earlier despite decreased new orders, industry data showed Tuesday.

Local shipyards clinched a combined 16.27 million compensated gross tons (CGTs) in new orders last year, or 38 percent of the global total of 42.78 million CGTs, according to the data from global market researcher Clarkson Research Service.

Their global market portion was up from 34 percent a year earlier, though the volume was down from 17.86 million CGTs.

The world’s total new orders were down 20 percent from the previous year.

Chinese shipbuilders won 20.82 million CGTs in 2022, taking up 49 percent of the world total and placing first.

In December, Chinese shipyards earned 1.24 million CGTs,or 75 percent of the global total of 1.65 million CGTs, which was down 19 percent from a year earlier.

Korean shipbuilders followed with 340,000 CGTs, accounting for 21 percent of the global total.

Their order backlog came to 37.5 million CGTs as of end-December, or 35 percent of the global total of 108.14 million CGTs, which was down 480,000 CGTs from a month earlier.

Chinese shipyards’ order backlog stood at 47.88 million CGTs, taking up 44 percent of the world total.

Meanwhile, Clarkson’s Newbuilding Price Index, a barometer of price changes in newly built ships, amounted to 161.81 points in December, up from 154.18 a year earlier and 161.69 in November, according to the data. (Yonhap)


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