Yonhap reported that South Korea regained its No 1 ranking in the global shipbuilding industry in January in terms of new orders.

According to Clarkson Plc, the nation's shipbuilders such as Hyundai Heavy Industries Co won a combined 353,986 compensated gross tonnes in new orders last month, accounting for 56.7% of all global new orders.
Chinese shipbuilders took the second spot with orders totaling 82,707 CGTs with a 13.2% share.

In terms of new orders, South Korean shipyards were overtaken by Chinese rivals last year. Chinese shipbuilders have gobbled up new orders at cheap prices, while South Korean shipbuilders have continued to focus on high priced vessels and offshore facilities.