S Korean shipyards receive record orders
Wednesday, 8 August 2007
SEOUL, Aug 7 (AFP): Orders received by South Korean shipyards hit a record high of 33.2 billion dollars in the first half of this year thanks to a surge in global demand, official data showed today.
High oil prices are fuelling worldwide demand for crude carriers and offshore exploration equipment.
The figures represent a 51.3 per cent increase in value from the same period in 2006, according to the Ministry of Commerce, Industry and Energy.
In the first six months to June, South Korea's shipbuilding orders soared 38.2 per cent year-on-year in terms of tonnage to 11.3 million compensated gross tons (CGTs), it said.
South Korean shipyards swept orders for all 13 liquefied natural gas carriers placed by shipping companies around the world during the period, the ministry said.
Their first-half order backlog rose 14.3 per cent year-on- year to 43.82 million CGTs worth 121.6 billion dollars, enough to keep them busy for four years.
In the first half they built 5.57 million CGTs, up 12.1 per cent, the ministry said.
High oil prices are fuelling worldwide demand for crude carriers and offshore exploration equipment.
The figures represent a 51.3 per cent increase in value from the same period in 2006, according to the Ministry of Commerce, Industry and Energy.
In the first six months to June, South Korea's shipbuilding orders soared 38.2 per cent year-on-year in terms of tonnage to 11.3 million compensated gross tons (CGTs), it said.
South Korean shipyards swept orders for all 13 liquefied natural gas carriers placed by shipping companies around the world during the period, the ministry said.
Their first-half order backlog rose 14.3 per cent year-on- year to 43.82 million CGTs worth 121.6 billion dollars, enough to keep them busy for four years.
In the first half they built 5.57 million CGTs, up 12.1 per cent, the ministry said.