South Korea's shipbuilders ranked second in new orders last year to their Chinese rivals, while sweeping 87 percent of orders for liquefied natural gas(LNG) carriers.
According to global market researcher Clarkson Research Service on Tuesday, domestic shipbuilders won 37 percent, or a combined 17-point-44 million of 46-point-64 million compensated gross tons(CGTs) in global orders, in 2021. That's the largest amount of orders since 2013.
Chinese shipbuilders bagged 22-point-86 million CGTs, taking up 49 percent of the total. Japan came in third with nine percent of new orders.
New orders spiked 95 percent from 23-point-nine million CGTs in 2020, also hitting an eight-year high.
South Korean shipbuilders, meanwhile, secured 87 percent of global orders for LNG carriers last year, and 49 percent of 12-thousand twenty-foot equivalent unit(TEU) container ships.