China wins most shipbuilding orders in September

Chinese yards won the most merchant shipbuilding orders placed worldwide in September this year. South Korean yards fell to the second position in global shipbuilding orders in September 2019 for the first time since April this year. China took first place by winning 740,000 compensated gross tonnes (CGTs) of orders to build 30 vessels in September, or 65% of total global orders, said London-based Clarkson Research Services. In September, Korean shipyards won orders totalling 320,000 CGTs to build nine ships, accounting for 28 of orders placed worldwide. Japan took third place with orders totalling 80,000 CGTs for five ships. In the first nine months of 2019, South Korean shipbuilders won orders equal to 5.27 million CGTs to construct 135 vessels for a 34% market share, the data showed. China headed the list with 5.98 million CGTs, or 253 ships, for a 39% market share. But for the third quarter alone, South Korea was the top player with 1.7 million CGTs, outnumbering China's 1.35 million CGTs. With the global shipping industry hit by the U.S.-China trade dispute and other economic problems, new shipbuilding orders around the globe dropped 43% from a year earlier to 15.39 million CGTs in the first nine months of this year, the data showed. In terms of order backlog, China again topped the list with 27.27 million CGTs, or 36% of the market, followed by South Korea with 20.24 million CGTs and Japan with 12.84. million CGTs.