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South Korean shipyards win in December as China suffers setbacks

China 2729 Industrials - Capital Goods 506 Japan 540 Mode - Containerized 1331 Mode - Seaborne 1663 Mode - Tanker 182 South Korea 522 Theme - Shipbuilding 102

South Korea’s shipyards reportedly won 42.6% of new orders globally in 2020, beating Chinese yards’ 41.2%. A recovery in industry orders hasn’t obviated the need for consolidation though with the merger of Hyundai Heavy Industries and Daewoo Shipbuilding still on track for late H1’21. South Korean shipbuilding exports climbed 105.9% year over year in December and by 38.0% year over year in Q4’20 as a whole. Chinese shipyards have also experienced a recovery in orders with a 45.4% surge in orders to reach the highest single month of orders since Dec. 2017. That’s yet to transfer to export...

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