Korean yard orders leap

South Korean shipyards won orders totalling 3.59 million gross tonnes (gt) for 58 ships in the first five months of this year, up from 1.47 million gt for 33 ships a year ago.

The Korea Shipbuilders' Association said all ships were for export. Ships completed in the five-month period totalled 2.63 million gt for 60 ships against 2.81 million gt for 65 ships a year ago. The back-log of orders at the end of May was 14.06 million gt (277 ships) compared with 12.95 million gt (274 ships) a year ago.