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Hyundai Heavy Industries Slips to No. 3 in Terms of Order Backlogs

Hyundai Heavy IndustriesIn a situation where the prolonged contraction of the Korean shipbuilding industry led to Korea losing the No. 2 spot in the national order backlog ranking by being overtaken by Japan, Hyundai Heavy Industries slipped to No. 3 in the corporate order backlog ranking, being overtaken by Japan’s Imabari Shipbuilding. 


According to London-based shipbuilding and shipping analysis firm Clarkson on January 23, Daewoo Shipbuilding & Marine Engineering maintained its top spot in order backlog terms with 6.79 million CGT as of the end of December 2016. The shipyard right behind Daewoo was not Hyundai Heavy Industries but Japan’s Imabari Shipbuilding. 


Imabari ranked No. 2 with its order backlogs estimated at 6.26 million CGT, followed by Hyundai with 5.95 million CGT. Samsung Heavy Industries ranked No. 4 with an order backlog of 4.03 million CGT. This indicates that an era when Korea’s top-three shipyards ruled the world is coming to an end. 


A month ago, Hyundai ranked No. 2 with an order backlog of 6.37 million CGT, staying ahead of Imabari’s 6.26 million GT.

The Original Posted by enews@hankyung.com

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