South Korean shipbuilders take the lead
According to Clarksons Research, ship orders worldwide totalled 2.49 million compensated gross tonnages (cgt) in October this year. This represents a dip of 44% compared to the same month in 2022.
Out of these orders, South Korea was able to secure 1.54 million cgt (62%), reclaiming the first position among ship-building nations since August this year. Wharfs in China claimed orders of 820,000 cgt (33%) which is the second position. In terms of the number of vessels, South Korea and China received orders of 18 and 34 ships, respectively.
Cumulative orders from January to October this year were at 33.69 million cgt (1,324 ships), shrinking by 24% compared to the same period in 2022. South Korea and China's order performance was 8.93 million cgt (184 ships, 27%) and 19.33 million cgt (832 ships, 57%), respectively.
By the end of October, the global order backlog went down by 410,000 cgt compared to the end of September, totalling 122.58 million cgt.