South Korea-based shipyards delivered newbuildings of up to 10 million compensated gross tonnages (CGTs) during the January-October period, compared with 9.78 million CGTs in China, surpassing the latter for the first time in five years, according to data released by Hana Daetoo Securities Co, Ltd. on November 17.

The data indicate that with green technology becoming the focus of the world's shipyards, Korean shipbuilders are competing in the global market by virtue of their technology strength.

The Chinese shipbuilding industry won more orders for newbuildings than that of South Korea for the first time in 2009 due to the former's lower costs and larger scale.