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13 Out of 20 Ships Ordered by Korean Shipping Firms Built in China

Korea’s shipping companies ordered a total of 20 ships so far this year, Among them, 13 would be built by Chinese shipyards. The share of domestic construction in the newbuilding orders placed by local shipowners stood merely at 35 percent, far lower than China’s 100 percent and Japan’s 67 percent.


Against this backdrop, there are voices that call for the benchmarking of the win-win strategies pursued by China and Japan which are breaking through the slump of the global shipping and shipbuilding market through close collaboration between local shippers, shipyards, and shipping companies.


According to Britain’s shipping and shipbuilding analysis firm Clarkson on May 21, Korean shipping companies ordered a total of 20 ships during the period from January 1 to May 15, 2017. Of these, only seven are under construction at domestic shipyards.


Considering that 22 out of 26 ships ordered by domestic shipping companies were built at home last year, the share of domestic construction declined sharply this year.


During the same period of this year, Chinese shipyards are building all of the 16 ships ordered by Chinese shippers, while Japanese dockyards are building four out of six ships ordered by local shipping companies.


The Original Posted by powerzanic@hankyung.com

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