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Cautious optimism as offshore markets show positive signs: Clarkson
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Ship Operators Move Toward LNG to Pare Emissions | Hellenic Shipping News Worldwide
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Shipbuilding boom creates positive effects for steel industry | Hellenic Shipping News Worldwide
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Shipbuilding boom creates positive effects for steel industry
Posted : 2021-04-22 09:13
By Kim Hyun-bin
Marine transportation, shipbuilding and the steel industry have all been thriving as of late, backed by signs of an economic recovery. The increase in transportation via the sea ― due to increased demand for supplies such as electronics and household goods during the pandemic ― has created a virtuous cycle, with a surge in demand for shipbuilding as well as for steel.
Local shipbuilders have been seeing a boom in sales, recording the most in sales since 2008. According to the British shipbuilding and marine industry tracker, Clarkson Research Services, total global compensated gross tonnage (CGT) in the first quarter of this year has grown 4.3 times, compared to the same period last year. Among the total, Korean shipbuilders placed at the top of the list, with 532,000 CGT, accounting for 52 percent of the global market. It is a significant rise ― amounting to an increas