South Korea takes second place in global shipbuilding orders for June with 1.05 million CGT

By Admin

08 Jul, 2025

In June, South Korea reinforced its standing as a global shipbuilding powerhouse, securing the second spot in global shipbuilding orders, according to the latest data from Clarkson Research Services, a leading London-based maritime analytics firm.

Dominating with 41% of Global Orders
South Korean shipyards achieved an impressive milestone by clinching orders amounting to 1.05 million compensated gross tons (CGT) across eight vessels, representing a solid 41 percent of the global total of 2.56 million CGT. This achievement highlights the continued strength and competitiveness of South Korea’s shipbuilding sector, which remains a critical pillar of the country's heavy industries and export economy.

China Maintains Top Position
Despite South Korea's significant performance, China maintained its dominant position, capturing 53 percent of the global shipbuilding orders for June. The country's shipyards have been consistently leading in volume and output, driven by competitive pricing, government support, and expanding technological capabilities.

Order Backlog Insights
When looking at the order backlog, China again held the lead with 96.82 million CGT, accounting for 59 percent of the global backlog of 163.37 million CGT. South Korea followed with 35.42 million CGT, equivalent to 22 percent of the global total, reinforcing its role as a key player in the long-term shipbuilding market.

Shipbuilding Prices on the Rise
The Clarkson Newbuilding Price Index, a vital indicator for tracking shipbuilding cost trends, stood at 187.11 in June. This marks a year-over-year increase of 0.42 points, reflecting a steady rise in the cost of newly built ships   a trend influenced by higher material costs, labor shortages, and evolving environmental regulations that demand more complex ship designs.

Clarkson Research Services – A Trusted Source
The data is provided by Clarkson Research Services, globally recognized for its in-depth market intelligence on the maritime and shipbuilding industries. The firm’s detailed reports and indices, including the Newbuilding Price Index, offer valuable insights for shipbuilders, investors, and policymakers navigating the complex global shipping landscape.

Conclusion
South Korea’s strong performance in June underscores its resilience and competitiveness in a highly dynamic global shipbuilding market. As global demand for advanced, fuel-efficient, and environmentally compliant vessels continues to grow, the nation's shipbuilders are well-positioned to capture future opportunities   despite stiff competition from China.