Chinese shipbuilder knocks Korean rival out of top 3

There was a time when it seemed Korean shipbuilders would forever stay on top in any category related to the business.

The stark reality is the industry has been experiencing severe downturns, and the country’s three biggest shipbuilders are struggling.
Hyundai, Daewoo and Samsung Heavy Industries used to hold a combined 70 percent of the market.

But Chinese rivals have taken 40 percent out of that pie, with Yangzijiang Shipbuilding, the only Chinese shipbuilder that’s not state-owned spearheading the charge.

Japanese shipbuilders were struggling to maintain a ten-percent share ten-years ago, but they, too, are recovering at an alarming rate.
Japan’s Imabari Shipbuilding has even managed to dethrone Samsung, which struggled last month with an order backlog of 5.oh-8 million tons.
Source: Arirang