The Korea Shipbuilders Association announced recently that the volume of orders received by the domestic shipbuilding industry during October stood at 35 vessels or 2,184,000GT setting a new one month total record. Accordingly from January to October the total volume of orders won by the domestic shipbuilders amounted to 145 ships or 7,979,600GT.

The association added that the domestic shipbuilding industry is very likely to regain the No 1 position of the world in terms of the volume of orders received for a year. The Korean shipbuilding industry was positioned as No 1 in 1993 by winning orders for 8,317,000GT. As of the end of October, the domestic shipbuilding industry’s backlog of orders stands at 336 ships or 21,178,037GT, which is an increase by 9% from the same period of last year’s 318 ships or 20,651,906GT. That is the largest volume the domestic shipbuilders had ever recorded.