S. Korean shipbuilding industry records highest amount of orders for 4th straight month in August

S. Korean shipbuilding industry records highest amount of orders for 4th straight month in August

September 11, 2019 0 By Kailee Schamberger


South Korea’s shipbuilding industry has
retained its top position in terms of the number of orders in August the
nation’s shipbuilding industry is showing signs of recovery with orders
for large-scale projects expected to be placed going forward our kim eun-sun has
this report South Korean shipyards one orders
totally 735,000 compensated gross tons in August accounting for more than 70%
of orders placed worldwide according to data released by the Ministry of Trade
industry and energy South Korea has now recorded the highest number of
shipbuilding orders for the fourth month in a row
South Korean shares logged orders worth eleven point three billion u.s. dollars
in total between January and August that puts Korea ahead of China which saw ten
point nine billion dollars of orders over the same period in the first eight
month of the year South Korea won 24 of the 27 orders placed for LNG carriers as
well as 10 of the 17 orders placed for very large crude carriers the amount of
orders has been steadily rising again since mid-august leading to
profitability thanks to increased unit costs and favorable foreign exchange
conditions accordingly employment in the shipbuilding industry has also been on
the rise recording 110-thousand after I fell to its lowest level in August last
year the industry is expected to enjoy continued growth going forward with
large-scale project orders expected to be placed by Russia Qatar and Mozambique
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