Korea’s Ministry of Knowledge Economy (MKE) and the Korea Shipbuilders’ Association (Koshipa) announced on 13th January that 2011’s total of ship and shipbuilding equipment exports would reach $47bn, which is a 5.6% decrease on the peak of $49.8bn from 2010.

Also, both forecast 2011’s newbuilding output would drop by 5.9%.

The main reason for Korea to retake the No. 1 postion is said to be, in one had a decline in the bulker segment, where china is the dominating actor, and in the other an expected increasing demand in container and offshore plants where Korea is the stronger party.