For the first time, STX Offshore & Shipbuilding is forecast to rank first among South Korean shipbuilders for new ship orders this year. The shipbuilder has received 23 newbuild orders worth $2.3bn, including the eight 400,000dwt VLOC orders placed by sister company STX Pan Ocean. The company also expects a few more orders that could increase the order to 27 ships worth $2.4bn.

Hyundai Heavy Industries has only received new orders for ten ships worth $1bn, including defense industry vessels. In 2008, STX was placed second after Hyundai in terms of order intakes for vessels. Samsung Heavy Industries secured a $700m LNG-FPSO order in 2009, while Daewoo’s order intake stands at $800m, including four 400,000dwt bulkers worth $460m.