Description
South Korea's New Shipbuilding Orders (Cumulative Value) is compiled and published by the Ministry of Trade, Industry, and Energy (MOTIE) of South Korea. This indicator measures the total value of new ship orders received by Korean shipyards. It is commonly used to assess the demand and health of the shipbuilding industry. Higher volumes of new shipbuilding orders typically reflect strong demand for new vessels and industry prosperity, while lower order volumes may indicate an industry downturn.
The new shipbuilding orders volume is calculated by accumulating the total value of new shipbuilding contracts signed by Korean shipyards within a specific period. The statistical scope includes orders for tankers, bulk carriers, container ships, and other specialized vessels.
This data is updated monthly, providing the cumulative value of new shipbuilding orders up to the end of the previous month.