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Korean Shipbuilding Industry Reclaims the World's Top Position in New Contracts in Five Years
Writer
Admin
Date
2017-08-28
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926
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The Korean shipbuilding industry, which once ruled the global shipbuilding industry for decades, has reclaimed the world’s top position in terms of new contracts for the first time in five years. The industry explains that it is the result of the domestic shipbuilders’ desperate efforts to win global competition for new contracts. Most notably, the so-called ‘Big Three’ of the Korean shipbuilding industry including Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering, have made notable contributions by securing 2.56 million CGT equivalent to 34% of the total global orders, or twice as much as the total new orders the companies secured during the same period in 2016.