Investment Immigration to the Philippines learn about the Philippine economy: In April this year, new orders in the Philippines' shipbuilding industry surpassed those in South Korea, ranking first in the world.
From October 2014 for three months, South Korean shipbuilding enterprises maintained the global number one position. However, in January this year, South Korea gave way to Japan, then in February and March, reclaimed the top position. This time, South Korea has ceded the global number one position to the Philippines again.
According to statistics from Clarkson Research, in April 2015, the total new shipbuilding orders worldwide amounted to 75 vessels, totaling 1.74 million CGT, a decrease of three vessels and 440,000 CGT compared to the previous month.
By country, during the same period, the Philippines' shipbuilding orders amounted to 590,000 CGT; South Korea's orders totaled 530,000 CGT; China's orders were 290,000 CGT; while Japan's orders reached 150,000 CGT. For the first time since May 2009, China's monthly order volume fell below 300,000 CGT.
In April this year, the Philippines' shipbuilding order volume benefited from the eight container ship orders (510,000 CGT) secured by South Korea's Hanjin Heavy Industries' Philippine subsidiary, the Subic Shipyard (HHIC-Phil), allowing them to rank first. Additionally, the remaining orders in the Philippines' shipbuilding sector include six bulk carrier orders (80,000 CGT) received by the Philippine subsidiary of Japan's Tsuneishi (常石) Shipbuilding, Tsuneishi Heavy Industries (Cebu).
Furthermore, as of April this year, South Korea's cumulative order volume was 3.53 million CGT, ranking first in the world. Japan and China's cumulative order volumes were 1.77 million CGT and 1.71 million CGT, respectively. During the same period, the global new orders totaled 8.15 million CGT, a decrease of 58.3% compared to 19.55 million CGT in the same period last year.
At the end of April, the global new shipbuilding order backlog was approximately 109.82 million CGT, a decrease of 1.6 million CGT from the previous month. China's backlog stood at 42.15 million CGT, maintaining its position at the top globally, while South Korea and Japan's backlogs were 32.41 million CGT and 19.34 million CGT, respectively.
