Shipyards in South Korea secured 62% of global newbuilding orders in January 2025, overtaking their biggest competitor China.
New data from industry service Clarksons shows that a total of 51 ships with a total tonnage of 1.46 million GT were ordered in January – a year-on-year decrease of 74%.
South Korean shipyards received 900,000 CGT and 13 ship orders, reclaiming the top spot. China, on the other hand, received 270,000 CGT and 21 orders, accounting for 19% of the global market share and ranking second.
China remains leader in order backlog
Of particular note is the sharp increase in South Korean orders compared to the previous month: In December 2024, South Korea’s share of global shipbuilding orders was only 6%, while China dominated during this period.
However, when looking at existing order backlogs, China remains the leader. At the end of January, the Chinese order backlog stood at 91.51 million GT, representing 58% of the global total of 156.79 million GT – a decrease of 1.32 million GT compared to December. South Korea follows in second place with 37.02 million GT and a global share of 24%. (rup)
