According to London-based industry researcher Clarkson Research Services Ltd, Hyundai Heavy Industries Co. and other local shipyards earned orders for a combined 200,000 paid gross tons to build eight ships in February, or 67 percent of the global total.

With 60,000 CGTs, the Philippines came in second to build four ships, making up 19 percent of the world's total, led by Japan with 30,000 CGTs for one container, or 10 percent. China, which took the No. 1 spot in January with 510,000 CGTs for 22 containers, clinched a mere 8,000 CGTs last month for one container ship.

Industry observers attributed the tumble to the outbreak of coronavirus that forced Chinese shipbuilders to abandon regular operations. Global shipbuilding orders for 18 vessels fell to 300,000 CGTs in February, compared to 750,000 CGTs for 33 vessels in January.

Maritime Business World