Seoul: South Korean shipbuilders saw a significant rebound in their global order share in the first half.
According to Bahrain News Agency, the Export-Import Bank of Korea reported that South Korea secured 25.1% of global shipbuilding orders in terms of compensated gross tons (CGT) during the January-June period. This marks a substantial rise from 17.2% a year earlier, significantly narrowing the gap with leader China from 51 percentage points to 26.7 percentage points.
In the first half of the year, container ships accounted for 53.3% of South Korea's total order volume of 4.87 million CGT. This is a notable recovery from last year when South Korean shipyards secured just two midsize-to-large container ship orders.
Last year, South Korea's share of global annual orders stood at 15%, the lowest in eight years, highlighting the significant improvement in the current year.