S. Korea beats archrival China in large ship sales for 2011

SEOUL -- South Korea regained its status as the world's leading shipbuilding nation in 2011 by beating its archrival China and securing deals for large, value-added vessels, data showed Tuesday.

According to London-based market researcher Clarkson Research Services, South Korean shipbuilders won a combined 13.55 million compensated gross tons (CGTs) in new orders last year, while Chinese shipbuilders clinched a total of 9.2 million CTGs.

* Last year, South Korea accounted for 48.2 per cent of a total of 28.11 million CGTs worth of deals globally placed, compared with a 31.2 per cent share a year earlier, according to the data.

* In terms of order value, South Korean shipbuilders outpaced their Chinese rivals as well: South Korean shipbuilders won deals valued at a combined US$48.16 billion last year, higher than the comparable figure of $19.2 billion for Chinese shipyards, the research institute said.

 (c) 2012 Asia Pulse Pte Ltd.