South Korean order book swells

PUBLISHED : Friday, 10 October, 1997, 12:00am
UPDATED : Friday, 10 October, 1997, 12:00am

New orders received by South Korean shipbuilders surged 187 per cent to 8.72 million gross tonnes (gt) for 144 vessels in the first nine months of this year, according to the Korea Shipbuilders' Association.

The nine-month figures compared with 3.03 million gt for 77 ships in the same period a year earlier.

An association official said increasing demand for replacing tankers contributed to the rising orders. He also said Japanese shipbuilders had been nearly fully booked, leaving more business for Korean firms.