South Korea exceeds China in shipbuilding orders

22 September 2011 (Last Updated September 22nd, 2011 04:13)

The shipbuilding order value of South Korean shipyards was nearly four times higher than Chinese yards during the first eight months of 2011, according to a Clarksons Research Services study.

The shipbuilding order value of South Korean shipyards was nearly four times higher than Chinese yards during the first eight months of 2011, according to a Clarksons Research Services study.

According to the World Shipyard Monitor report, South Korean shipbuilders won $37.8bn worth of orders in the first eight months of 2011, compared with $10.3bn worth of orders in China.

South Korea's expertise in constructing higher-value offshore, container and gas vessels, helped it win more orders compared to China, the report said.