Latest news with #ClarksonResearchServices
India Gazette
3 days ago
- Business
- India Gazette
South Korean shipbuilders report 32 per cent decline in new orders from January to May
New Delhi [India], June 6 (ANI): South Korean shipbuilders witnessed a decline of 32 per cent on a year-on-year basis in new orders from January to May, according to shipping industry tracker Clarkson Research Services, as reported by the Korea Herald. During these five months, Korean shipbuilders reported a total of 3.81 million compensated gross tonnage, representing 24 per cent of the global market, second only to China, which led with 7.86 million CGT, or 49 per cent. This decline was attributed to selective order-taking, as companies like HD Hyundai Heavy Industries, Hanwha Ocean and Samsung Heavy Industries were prioritised as they deal with high-value-added vessels such as liquefied natural gas carriers rather than container ships. Their docks are currently occupied with orders scheduled for delivery over the next three years. From a broad perspective, this drop is also a reflection of a sharp downturn in the global shipbuilding market. Industry sources noted that many shipping companies are delaying new orders amid uncertainties in global trade and falling freight rates, driven in part by ongoing geopolitical tensions between the US and China. The Shanghai Containerised Freight Index, which measures shipping rates, dropped from over 3,000 in June last year to around 1,200 in May 2025. Although the index has recently risen, experts believe this is a short-term bump due to temporary US tariff deferrals on Chinese goods. As a result, South Korean shipbuilders have seen their order backlogs shrink by 8 per cent, or 3.09 million CGT, compared to last year. By early June, HD Korea Shipbuilding & Offshore Engineering had met just 38.7 per cent of its annual order target of USD 18 billion, and Samsung Heavy Industries had reached only 27 per cent of its annual order target of USD 9.8 billion. (ANI)
Korea Herald
3 days ago
- Business
- Korea Herald
Korean shipbuilders suffer 35% drop in orders through May: report
South Korean shipbuilders saw a 35 percent year-on-year drop in new orders from January to May, according to shipping industry tracker Clarkson Research Services on Thursday. During the five-month period, Korean shipbuilders secured a total of 3.81 million compensated gross tonnage, representing 24 percent of the global market — second to China, which led with 7.86 million CGT, or 49 percent. The decline is partly attributed to selective order-taking, as Korea's major shipbuilders — HD Hyundai Heavy Industries, Hanwha Ocean and Samsung Heavy Industries — have prioritized high-value-added vessels such as liquefied natural gas carriers rather than container ships. Their docks are currently occupied with orders scheduled for delivery over the next three years. However, the drop in orders is also reflects a sharp downturn in the global shipbuilding market. Total new global orders during the period fell 45 percent from a year earlier to 15.92 million CGT, raising concerns among some industry observers about the possibility of the current market cycle slowing in the coming years. Industry sources noted that many shipping companies are delaying new orders amid uncertainties in global trade and falling freight rates, driven in part by ongoing geopolitical tensions between the US and China. The Shanghai Containerized Freight Index, a widely used indicator of shipping rates, exceeded 3,000 in June last year but dropped to just over 1,200 in May this year. Although it has seen a sharp rise over the past three weeks, securities firms suggest this is a temporary increase driven by the US' short-term tariff deferral on Chinese goods. As a result, Korean shipbuilders saw a decrease in their backlog, with total outstanding orders falling by 8 percent, or 3.09 million CGT, compared to the same period last year. As of early June, HD Korea Shipbuilding & Offshore Engineering — parent company of HD Hyundai Heavy Industries and two other smaller shipbuilders — had only achieved 38.7 percent of its annual order target of $18 billion. Samsung Heavy Industries had reached 27 percent of its full-year sales goal of $9.8 billion.
Korea Herald
04-04-2025
- Business
- Korea Herald
S. Korea ranks 1st in global shipbuilding orders in March
South Korea rose to first place in new global shipbuilding orders in March, overtaking China's lead in the previous month, industry data showed Friday. South Korean shipyards clinched orders totaling 820,000 compensated gross tons for 17 ships, accounting for 55 percent of the global total at 1.5 million CGTs last month, according to London-based Clarkson Research Services. China followed with 520,000 CGTs for 31 vessels, taking up 35 percent of the global total. In terms of order backlog, China ranked first with 93.97 million CGTs, or 59 percent of the global total at 159.6 million CGTs as of the end of March, making a 1.52 million CGT increase from a month earlier. South Korea ranked second with 36.12 million CGTs, accounting for 23 percent of the total. Clarkson's Newbuilding Price Index, a barometer of price changes in newly built ships, came to 187.43 last month, up 4.26 points from a year ago. (Yonhap)
Korea Herald
07-02-2025
- Business
- Korea Herald
S. Korea ranks 1st in global shipbuilding orders in Jan.
South Korea ranked first in new global shipbuilding orders in January, outpacing its rival China, industry data showed Friday. South Korean shipyards clinched orders totaling 900,000 compensated gross tons 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. South 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. South 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)
