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China extends shipbuilding lead

Seoul: The three major indicators - order backlogs, new orders and completion & delivery - for shipbuilding competitiveness suggest that the gap between South Korea and China is getting wider in the course of time. According to Clarkson Research Services and the shipbuilding industry on Thursday, China posted 51.93 million CGT in order backlogs and accounted for 36.4% of the market share as of early October, the largest amount in its history. ?Meanwhile, Korea recorded 46.16 million CGT in backlogs and claimed 32.4% of the market, beaten by China by 4.0%p. ?The gap between the amount of backlogs of Korea and China has been widening since last early November when China overtook Korea for the first time by 0.9%p, posting 1.5%p in January, 2.0%p in May and 2.8%p in September. ?In terms of new orders, China is far ahead of Korea with 10.73 million CGT (45.6%) in accumulation from January through September. Korea received 8.96 million CGT (38.1%) of new orders during the same period. ?Korea owned 40.1% of the market in terms of orders, 4.3%p behind China (44.4%) as of last year. However, the gap widened to 7.5%p in nine months. ?Even in completion and delivery, China outstripped Korea by 1.2 million CGT, accumulating 13.28 million CGT (35.5%) as of September. Korea posted 12 million CGT. It seems that the top spot has been actually reserved for China at least for this year.  [08/10/10]

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