The local shipbuilding industry, which has been mired in a deep recession over the past few years, may recover down the road with demand for new ships on the rise, data showed Thursday.
In the first nine months of the year, South Korean shipyards reaped orders for 10.9 million compensated gross tons (CGTs), accounting for 36 percent of all global orders placed during the cited period, earlier government data showed.
The country's top three shipyards have clinched a combined US$35.43 billion worth of orders in the first nine months of the year, achieving 89.1 percent of their annual order targets.
According to the data compiled by market researcher Clarkson, shipbuilding orders placed around the globe reached 35.6 million compensated gross ton (CGTs) in the first 10 months of the year, surging 74 percent from a year earlier.
Clarkson's index measuring new building prices stood at 131 points in October of this year, inching up from 127 points in June.
Since November of last year, the Britain-based shipping research center's index has remained static, hovering around 125 points.
New shipbuilding prices have been on the decline for years, as demand for new ships dropped amid the global economic downturn and oversupply.
"Increased orders for new ships, along with rising ship prices, may herald a pick-up in the sector's recovery," said Lee Kang-rok, an analyst at KTB Investment & Securities.
"The country's top three shipbuilders have already secured enough orders, and may see another boom in offshore facilities," he said. (Yonhap)
In the first nine months of the year, South Korean shipyards reaped orders for 10.9 million compensated gross tons (CGTs), accounting for 36 percent of all global orders placed during the cited period, earlier government data showed.
The country's top three shipyards have clinched a combined US$35.43 billion worth of orders in the first nine months of the year, achieving 89.1 percent of their annual order targets.
According to the data compiled by market researcher Clarkson, shipbuilding orders placed around the globe reached 35.6 million compensated gross ton (CGTs) in the first 10 months of the year, surging 74 percent from a year earlier.
Clarkson's index measuring new building prices stood at 131 points in October of this year, inching up from 127 points in June.
Since November of last year, the Britain-based shipping research center's index has remained static, hovering around 125 points.
New shipbuilding prices have been on the decline for years, as demand for new ships dropped amid the global economic downturn and oversupply.
"Increased orders for new ships, along with rising ship prices, may herald a pick-up in the sector's recovery," said Lee Kang-rok, an analyst at KTB Investment & Securities.
"The country's top three shipbuilders have already secured enough orders, and may see another boom in offshore facilities," he said. (Yonhap)
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