Korean Shipyards Rank 1-7th in Order Backlogs

South Korean shipyards ranked No. 1 through No. 7 in terms of order backlogs as of the end of April, the Korea Times recently reported. Hyundai Heavy Industries, retained its spot with an order backlog of 11.44 million compensated gross tons (CGT). Samsung Heavy Industries overtook its rival Daewoo Shipbuilding & Marine Engineering Co. with an order backlog of 8.34 million CGTs. Daewoo Shipbuilding was the third-largest shipyard with an order backlog of 7.63 million CGTs. Hyundai Heavy Industries' subsidiaries Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries were the fourth and the fifth largest shipyards with order backlogs of 4.24 million CGTs and 2.99 million CGTs, respectively. STX Shipbuilding was the sixth largest worldwide for the third consecutive month with an order backlog of 2.39 million CGTs. Hanjin Heavy Industries & Construction Co., climbed up a notch to rank No. 7 with an order backlog of 2.12 million CGTs. China's Dalian New Ship Heavy Industry Co. and Shanghai Waigaoqiao Shipbuilding Co. were the eighth and ninth shipyards with their order backlogs amounting to 1.93 million CGTs and 1.89 million CGTs, respectively. Japan's industry leader Mitsubishi Heavy Industries Ltd. Slid to rank No. 10 in the world from No. 7 a month earlier. Its order backlog came to 1.74 million CGTs. (Source: Korea Times)