Korean shipbuilders rank No. 2 for second straight year in 2022
Korean shipbuilders lagged behind their Chinese rivals in terms of new global orders in 2022 to take the No. 2 spot in the world for the second straight year, industry data showed Thursday Local shipbuilders clinched a combined 15.64 million compensated gross tons (CGTs)

A Hyundai shipbuilding plant
Seoul – Korean shipbuilders lagged behind their Chinese rivals in terms of new global orders in 2022 to take the No. 2 spot in the world for the second straight year, industry data showed Thursday.
Local shipbuilders clinched a combined 15.64 million compensated gross tons (CGTs) in new orders this year, accounting for 37% of the 41.93 million global total, according to Clarkson Research Service.
It was down 11% from a year earlier. The global tally was also down 22% from 2021. Chinese shipyards far outpaced Korean players, bagging 20.34 million CGTs in new orders, or 49% of the world total.
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