Chinese shipbuilders bagged 770,000 CGTs in orders to build 28 vessels, or 64 percent of the global orders in total, topping all rivals in the past two months, the data showed. Japan came in third at 60,000 CGTs or three ships.
In April alone, new shipbuilding orders reached 1.21 million CGTs, down from the previous month’s 2.88 million CGTs.
In the first four months of the year, Korean shipyards bagged orders totaling 2.02 million CGTs or 45 vessels. China topped the list with 3.44 million CGTs, or 140 ships. the data showed.
In terms of order backlog, China came first with 29.96 million CGTs with a 37-percent share, followed by South Korea with 20.98 million CGTs, or 26 percent, and Japan with 13.97 million CGTs or 17 percent.
Korean shipbuilders focused on building high-end ships such as liquefied natural gas carriers, drill ships and oil-exploring offshore facilities, while smaller Chinese rivals have relied on massive sales of low-end ships such as bulk carriers. But the latter have been rapidly catching up with the former technologically in recent years.
By Ram Garikipati and newswires (email@example.com)