Korean Shipbuilders Take the Lead in Global Orders

Korea's three largest shipbuilders have seen their new orders soar, almost reaching the level of the last industry boom in 2007.According to data released by the industry on Wednesday,

Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries have won a combined US$21.7 billion in orders so far this year. That's nearly four times the $5.2 billion won by the Chinese shipbuilding industry during the period.
According to a forecast by Daishin Securities, the three Korean companies are expected to surpass $48 billion in orders this year, comparable to the $57.5 billion of 2007.
Despite being distant to a full recovery of the global shipbuilding industry, Korean shipbuilders' strong performance can be attributed to orders for large-sized container ships, drillships and LNG vessels, where Korean companies have taken the technological lead compared to China.
Korean companies have won 17 out of 24 orders for drillships worldwide so far this year.