Seoul: Three South Korean shipbuilders have ranked among the world's top 10 companies in terms of new global orders for 2024, while the remaining seven positions were dominated by Chinese shipyards, as revealed by industry data on Sunday.

According to Yonhap News Agency, Samsung Heavy Industries Co. achieved fifth place on the list, based on new orders measured in compensated gross tons (CGTs). Hanwha Ocean Co. and HD Hyundai Samho Heavy Industries Co. secured sixth and seventh places, respectively, as per the data compiled by London-based Clarkson Research Services.

China's New Times Shipbuilding led the rankings, with Hudong-Zhonghua Shipbuilding, New Yangzijiang, and Hengli Heavy Industry following closely behind. Additionally, Dalian Shipbuilding, Waigaoqiao Shipbuilding, and Jiangnan Shipyard occupied the eighth to tenth spots.

Despite the standings in new orders, South Korean companies excelled in terms of order backlogs. HD Hyundai Heavy Industries Co. took the lead globally with 8.93 million CGTs as of January. Samsung Heavy Industries Co. followed with 8.72 million CGTs, and Hanwha Ocean secured third place with 8.49 million CGTs. HD Hyundai Samho was ranked sixth in this category.

Insiders have noted that these results underscore South Korean shipbuilders' success in acquiring substantial orders and maintaining significant backlogs, ensuring steady production for the years ahead.