SIMIC

According to Clarkson Research Services, Britain's shipbuilding industry tracker, Korean shipbuilders accounted for 45 per cent of new orders placed in January, or 1,38 million compensated gross tonnes (CGTs), up 160 per cent from a month earlier.

Still China accounted for the largest share of 48 per cent, or 1.47 million CGTs by adding 50 per cent from the previous month, reports Pulse News Korea.

Total vessel orders in January this year soared 72 per cent from a month ago to 3.07 million CGTs in the first increase in four months.

Japan was third with a share of 3 per cent on orders of 90,000 CGTs.

At the end of January, the total backlog of ship orders rose 110,000 CGTs from the previous month of 91.28 million CGTs. While China and Japan saw order decrease by 40,000 CGTs and 240,000 CGTs, respectively, Korea added 690,000 CGTs.

By type, LNG carriers of more than 140,000 cubic metres and 12,000 TEU container vessels took 67 per cent of the total orders. There were no orders in very large crude oil carriers (VLCCs), S-max oil tankers, and A-max vessels last month.

The Clarkson newbuilding price index stood at 154.26 points in January, keeping on the rising track for 14 straight months. Prices of all ship types rose except for S-max oil tankers. The VLCC price escalated to US$114 million from $112 million, while LNG carriers over 174,000 cubic metres rose from $210 million to $214 million.