This file photo , provided by Samsung Heavy Industries , shows a crude carrier built by the shipbuilding company . [ YONHAP ] Korea was a distant second player after China in terms of new shipbuilding orders in the first five months of the year , data showed Tuesday . In the January - May period , Chinese shipbuilders won new orders totaling 2 . 88 million compensated gross tons ( CGTs ) to build a total of 121 ships , accounting for 62 percent of new orders in total , followed by Korean shipbuilders with 900 , 000 CGTs , or 32 ships , according to data provided by global market researcher Clarkson Research Service . Global new shipbuilding orders fell sharply in the January - May period for the past three years , coming in at 15 . 82 million CGTs in 2018 , 12 . 17 million CGTs in 2019 and 4 . 69 million CGTs in 2020 . In May alone , Chinese shipbuilders clinched 270 , 000 CGTs in order to construct 13 ships , trailed by Korean shipbuilders with 230 , 000 CGTs , or 8 ships , and Japanese shipbuilders with 50 , 000 CGTs , or 2 ships , the data showed . In May , global new orders came to 570 , 000 CGTs , or 27 ships , down 60 percent from 1 . 41 million CGTs a month earlier . The Chinese shipbuilders ' advance in winning new orders was attributed to a rise in new orders in China . In terms of order backlog , which keep them busy for two or three years , Chinese shipbuilders had 26 . 24 million CGTs as of May , taking up 36 percent of the total , followed by Korean shipbuilders with 20 . 22 million CGTs and Japanese shipbuilders with 10 . 24 million CGTs , the data showed . Yonhap