South Korean Shipbuilders Forecast Record Sales

South Korea cemented its global leadership as the world's largest shipbilding nation this year by securing 40% of global orders, shipbuilders said Dec. 27. For the January-November period, South Korean shipbuilders received orders totaling 13.9 million compensated gross tons, down from 16.2 million tons a year ago, according to London-based shipbroker Clarkson Plc. Japan was second with 5.9 million tons.

Orders received by South Korean shipbuilders during the same period account for 39.2% of the global shipbuilding market, compared to 37.4%a year ago. South Korean shipbuilders led by Hyundai Heavy Industries secured 36% of global orders last year. Japan was second with 30.3%.

Copyright Agence France-Presse, 2005