SEOUL, July 29 (AJP) - South Korean shipbuilders saw their global market share recover to over 20 percent in the first half of 2025, benefiting from the United States sanctions on Chinese maritime industries, according to data released Tuesday by the Korea Development Bank's overseas economic research institute.
South Korea's order share reached 25.1 percent in the January-June period based on compensated gross tonnage, up 8 percentage points from 17.2 percent a year earlier. The gap with top-ranked China narrowed from 51.0 percentage points to 26.7 percentage points as Korean yards capitalized on container ship orders shifting away from Chinese competitors.
The rebound was driven by the US Trade Representative's decision to impose port fees on Chinese shipping companies and operators of Chinese-built vessels entering US ports. Container ships accounted for 53.3 percent of Korea's 4.87 million CGT in orders during the first half, compared to just two medium and large container ships ordered in the same period last year.
However, the overall global shipbuilding market contracted sharply amid economic uncertainties. Global orders fell 54.5 percent to 19.39 million CGT in the first six months, with liquefied natural gas vessel orders - a Korean specialty - plunging 82.9 percent to 1.05 million CGT.
The research institute warned that South Korean shipbuilders should use this temporary advantage to strengthen fundamental competitiveness rather than becoming complacent. The report noted that the market share recovery represents "fisherman's profit" from US-China tensions and urged companies to focus on widening quality gaps with Chinese rivals while the government provides active support given the industry's national security importance.
reporter
Candice Kim
candicekim1121@ajupress.com
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