Are IMO regulations tough enough to keep national governments from imposing stricter measures?

Only partly
No--expect a slew of regional regs!

Marine Log

July 22, 2007

Korean shipbuilders again in No. 1 spot

Korean shipbuilders overtook their Chinese rivals in new orders obtained in the first half of the year, reports Korea Overseas Information Service, quoting figures from London-based Clarkson Research Studies.

Korean companies such as the world's No.1 shipbuilder Hyundai Heavy Industries Co. and No. 2 Samsung Heavy Industries Co. won a combined 15.3 million compensated gross tons (CGTs) in new orders in the January-June period, up 51.5 percent from a year ago, Clarkson Research Studies said.

In the same period, Chinese shipbuilders received a combined 13.8 million CGTs in new orders, yielding the top position to their Korean rivals, which received a consolidated 6.9 million CGTs in new orders in the first four months of the year, falling behind the Chinese shipyards' 8.5 million CGTs.

Clarkson Research said Korean shipbuilders outpaced Chinese shipyards thanks to increased new orders for containerships in May and June.

On a CGT basis, with orders totaling 35.8 million CGT. Korean shipbuilders took 42.7 percent of all newbuilding orders worldwide in the January-June period, up 8.08 percentage points from a year ago, Clarkson Research said said.

Japanese shipbuilders received a combined 2 million CGT in new orders in the first half, down 67.9 percent from a year earlier.

Korea also retained its No. 1 world ranking in terms of backlogs of orders and the volume of vessels built.

Korean shipbuilders' combined backlogs of orders totaled 53.7 million CGT as of the end of June, compared with Chinese yards' 38.8 million CGT and Japanese shipbuilders' 29.6 million CGT.

Korean shipbuilders built 6.6 million CGT in the first half of the year, followed by the Japanese shipbuilders with 4.2 million CGTs and the Chinese shipyards with 2.2 million CGTs.

Korean shipyards are forecast to see their exports rise 18 percent to $26 billion this year boosted by continuous demand for high-value ships and other products.