In the year to July, global newbuilding orders were seen to have increased nearly 50% compared to the same time period a year ago.
According to the latest report by Clarkson, global newbuilding orders recorded 910 vessels of a combined 21.05m cgt during the first seven months, which represents a 47% year-on-year increase against 822 vessels of 14.31m cgt.
Korean shipbuilders turned out to have won new contracts for 216 vessels of 7.48m cgt in the year to July, grown by 50% from 152 vessels of 4.98m cgt recorded a year ago.
Also, during the period, Korean shipbuilding industry earned 32% increased values of newbuilding contract to $22.99bn against $17.369bn seen from the same period last year.