Korea’s shipbuilding industry picks up thanks to Greece

Athens - On recent orders from Greek shipping companies, South Korea’s shipbuilding industry regained the No. 1 spot from China in the third quarter of this year, data showed Sunday. According to UK-based market research firm Clarksons Research, Greece placed orders for 18 ships worth 589,421 compensated gross tonnage from Korean shipbuilders this year

Athens - On recent orders from Greek shipping companies, South Korea’s shipbuilding industry regained the No. 1 spot from China in the third quarter of this year, data showed Sunday. According to UK-based market research firm Clarksons Research, Greece placed orders for 18 ships worth 589,421 compensated gross tonnage from Korean shipbuilders this year, accounting for 20.7% of Korea’s total orders this year and making Greece the No. 1 source of its orders.

During the same period, Korean clients ordered 15 ships worth 371,096 CGT from Korean shipbuilding companies. Saudi Arabia ordered 10 ships and Singapore purchased seven. Greece, which has the most ships in the world, has traditionally been a big customer for Korean shipbuilders.

Greece’s largest shipping company, Angelicoussis Group, has ordered 110 ships exclusively from Daewoo Shipbuilding & Marine Engineering since 1994. Thanks to a series of orders from Greek shipping companies, Korea recorded 1.42 million CGT in the third quarter of this year, far outpacing China’s 830,000 CGT.

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