Due to a chase of Japanese and Chinese shipbuilders, Korea’s three major shipbuilders, once the world’s top threes, are gradually losing ground in the market.
Chinese shipbuilders are also included in the world’s top 10 list. Yangzijiang Shipbuilding ranked fifth with 3.31 million CGT, or 130 ships, while Shanghai Waigaoqiao Shipbuilding and Hudong-Zhonghua Shipbuilding took seventh and ninth place with 2.84 million CGT, or 74 ships, and 2.61 million CGT, or 55 ships, respectively.
An official from a large shipbuilding company said, “As Japanese and Chinese shipbuilders made a clean sweep of national orders from last year, their backlog of orders increased. Five or six years ago, the three Korean shipbuilders accounted for 70 percent of the global market, which is now down to 30 percent as opposed to China’s 40 percent and Japan’s 30 percent.”
The Original Posted by Jung Min-hee/Business Korea