Despite a 24% year-on-year decline in global ship orders last month, cumulative orders for the year have increased by 61%. South Korea's cumulative orders rose by 55% compared to the same period last year, showing a solid trend.
According to Clarkson Research, a UK-based maritime and shipping market analysis firm, global ship orders in August totaled 4.2 million CGT (compensated gross tonnage, equivalent to 125 vessels), down from 5.51 million CGT during the same period last year. By country, China recorded 3.59 million CGT (107 vessels, 85%), while South Korea accounted for 310,000 CGT (10 vessels, 7%).
From January to August this year, global cumulative orders reached 59.72 million CGT (2,128 vessels), a 61% increase from 37.19 million CGT (1,568 vessels) during the same period last year. South Korea's orders amounted to 9.38 million CGT (16%), up 55% from the previous year. In contrast, China's orders surged to 45.39 million CGT (76%), marking a 95% increase year-on-year.
As of the end of August, the global order backlog increased by 1.05 million CGT from the previous month, reaching 216.43 million CGT. South Korea holds 37.96 million CGT (18%) of this backlog, while China dominates with 145.39 million CGT (67%). Compared to the same period last year, South Korea's backlog increased by 3.47 million CGT, while China's grew by 37.36 million CGT.
As of the end of August 2026, the Clarkson Newbuilding Price Index stood at 186.34, up 0.85 points from 185.49 the previous month, and 28% higher than five years ago.
Prices for various ship types are reported as follows: LNG carriers at $248.5 million, very large crude carriers (VLCC) at $131 million, and ultra-large container ships (22-24k TEU) at $254 million.
* This article has been translated by AI.
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