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China chases Korea: Newbuilding orderbook | Chinese shipbuilding industry is in hot pursuit of South Korean in terms of newbuilding order backlog.
According to Clarkson statistics, the gap of newbuilding orderbook (CGT basis) between China and South Korea fell below 2% points as of the end of April, the lowest level after the record making started in 1996. |
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As of the end of April, South Korea's newbuilding order backlog stood at 61.71m CGT, occupying 34.4% of the market. China's orderbook came to 58.57m CGT with 32.7% market share, which means South Korea was ahead of China by 3.14m CGT and by 1.7% points in terms of market share.
On the other hand, China shipbuilding industry received new shipbuilding orders of 230,000 CGT by the end of April, which was 50,000 CGT less than what South Korean shipbuilders won.
According to South Korean shipbuilders' analysis, the narrowed orderbook gap resulted from the fact that South Korean yards drastically increased shipbuilding output from the beginning of this year.
Published : June 18, 2009
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