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Due to the US-Iran war and aging vessel replacement needs, crude oil tanker orders surged this year, with China securing 75% of the total, prompting calls for diversification in South Korea's shipbuilding industry.

Surge in Crude Carrier Orders and Underlying Factors

According to Clarkson Research, global orders for crude oil tankers have significantly increased this year, totaling 91 vessels. This represents a substantial rise compared to just 5 vessels in the same period last year. The primary drivers behind this surge include the changing maritime transport environment due to the US-Iran war, coupled with the replacement demand for aging vessels. Many tankers ordered during the global shipbuilding boom from 2003 to 2008 are now reaching their replacement cycles, contributing to the increased orders.

China's Dominant Performance and South Korea's Challenges

Of the 91 crude oil tankers ordered this year, China secured a commanding 75%, or 69 vessels, showcasing its strong competitiveness. In contrast, South Korea managed to secure the remaining 22 vessels. This outcome highlights the need for domestic shipbuilders to diversify their vessel types and strategies. Facing increased competition from China's large-scale orders, the South Korean shipbuilding industry is expected to focus on differentiated strategies, such as high-value-added or eco-friendly vessels.

*Source: v.daum.net (2026-03-15)*

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