South Korean shipbuilders secured orders in the first quarter worth almost ten times that of the same period last year.

According to data provided by global market researcher Clarkson Research Service on Sunday, Korean shipbuilders won new orders for 126 ships or five-point-32 million compensated gross tons(CGTs) in the first three months of the year.  

The comparable figure for the first quarter of last year was 550-thousand CGTs. 

South Korean shipbuilders also took up 52 percent of total global orders in the first quarter, topping the global ranking in new shipping orders.

The Ministry of Trade, Industry and Energy said that it is the best performance for any first quarter since 2008.