Korea Shipbuilders Lose Orders to China in September Following August, China captures 82% of global orders while Korea bags 6%

[beijingwalker]

Korea Shipbuilders Lose Orders to China in September Following August, China captures 82% of global orders while Korea bags 6%​

• Editor Michael Herh
• 2023.10.07 07:5

A dockyard of the China State Shipbuilding Corp. (CSSC)

Korea’s shipbuilding industry lost ground to its rival, the Chinese shipbuilding industry, in September.

According to Clarkson Research, a U.K.-based shipbuilding and shipping market analyst, global ship orders totaled 1.86 million CGT (71 ships) in September of 2023, down 59 percent from the same month of 2022.

Of these, Korea received orders for 120,000 CGT (4 ships and 6 percent), showing a wide gap with China, which received orders for 1.53 million CGT (62 ships and 82 percent).

Cumulative global shipbuilding orders for the first nine months of this year totaled 30.14 million CGT (1,096 vessels), down 23 percent from 39.16 million CGT (1,525 vessels) a year earlier.

Korea’s and China’s cumulative order intakes were 7.42 million CGT (168 vessels and 25 percent) and 17.99 million CGT (726 vessels and 60 percent) respectively.

At the end of September, the global order backlog stood at 122.19 million CGT, down 360,000 CGT from the previous month. Korea had an order backlog of 39.44 million CGT (32 percent) and China an order backlog of 58.15 million CGT (48 percent).

Meanwhile, the Clarkson Newbuilding Index stood at 175.38 points, up 13.26 points from the same period of 2022. By ship type, the price of a single vessel was US$265 million for liquefied natural gas (LNG) carriers, US$128 million for very large crude carriers (VLCCs), and US$230 million for very large container ships.

출처 : Businesskorea(https://www.businesskorea.co.kr)

Korea Shipbuilders Lose Orders to China in September Following August

Korea’s shipbuilding industry lost ground to its rival, the Chinese shipbuilding industry, in September.According to Clarkson Research, a U.K.-based shipbuildi

www.businesskorea.co.kr

 

[beijingwalker]

82% of the global shipbuilding share!!! This is a crazy share.​

 

[beijingwalker]

US dream of relying its allies for new warship building and maintanence is dashed, soon it'll be only China building ships.

 

[K_Bin_W]

I have a friend in the US who is in imports/exports according to him no matter how you slice & dice it you cannot beat the Chinese. Thats why Walmart is called a little China..

 

[tower9]

82% of the global shipbuilding share!!! This is a crazy share.​

That is fucking crazy. I remember South Korea used to be dominant, having maybe 40-50% of all orders, now they only have 8%. China is also moving up the ladder building LNGs and Cruiseliners now.

 

[beijingwalker]

That is fucking crazy. I remember South Korea used to be dominant, having maybe 40-50% of all orders, now they only have 8%. China is also moving up the ladder building LNGs and Cruiseliners now.

6%

Korea received orders for 120,000 CGT (4 ships and 6 percent)

 

[FuturePAF]

Outside of military construction, in which specialized area does any non-Chinese builder stay competitive with Chinese shipbuilders?

 

[Viet]

That is fucking crazy. I remember South Korea used to be dominant, having maybe 40-50% of all orders, now they only have 8%. China is also moving up the ladder building LNGs and Cruiseliners now.

China is a much greater threat to the west. Russia is just a cheap gas station with nukes.

 

[beijingwalker]

Outside of military construction, in which specialized area does any non-Chinese builder stay competitive with Chinese shipbuilders?

US now even has trouble to maintain its current fleet, let along building more

China leaves US trailing in race to build warships，Beijing’s shipbuilding capacity 230 times greater than American yards, US intelligence admits

China leaves US trailing in race to build warships Beijing’s shipbuilding capacity is 230 times greater than American yards, US naval intelligence admits Michael Evans Wednesday July 12 2023, 6.50pm, The Times China launched the Fujian, its third aircraft carrier, in June last year LI GANG/AP...

pdf.defence.pk

 

[FuturePAF]

US now even has trouble to maintain its current fleet, let along building more

China leaves US trailing in race to build warships，Beijing’s shipbuilding capacity 230 times greater than American yards, US intelligence admits

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pdf.defence.pk

You didn’t answer the question. What do any of the non-Chinese shipbuilders do that China is looking to catch up to be able to do? Cruise ships are now being built in China so it’s one area they are gaining from the Italians.

 

[beijingwalker]

You didn’t answer the question. What do any of the non-Chinese shipbuilders do that China is looking to catch up to be able to do? Cruise ships are now being built in China so it’s one area they are gaining from the Italians.

Since 82% of the ships are built by China now, can't think of any.

 

[FuturePAF]

Since 82% of the ships are built by China now, can't think of any.

Can’t or won’t. Be honest, just like recognizing cruise ships was a market to capture, mentioning other areas doesn’t state some kind of failure but a new market to try to recognize and try to capture.

 

[beijingwalker]

Can’t or won’t. Be honest, just like recognizing cruise ships was a market to capture, mentioning other areas doesn’t state some kind of failure but a new market to try to recognize and try to capture.

I really can't find any now, can you point them out?

 

[FuturePAF]

I really can't find any now, can you point them out?

Off the top of my head, I guess it’s yachts, haven’t looked at the figures but I’m just guessing considering where the mega yachts seem to be built. Those rich Russians and GCC Arabs are gonna want new yacht every few years, and so will the rich Chinese billionaires.

 

[tower9]

Off the top of my head, I guess it’s yachts, haven’t looked at the figures but I’m just guessing considering where the mega yachts seem to be built. Those rich Russians and GCC Arabs are gonna want new yacht every few years, and so will the rich Chinese billionaires.

Luxury custom designed super yachts are probably the last niche China has not dominated yet in the shipbuilding industry. This is the last thing dominated by the euros