Daewoo Shipbuilding & Marine Engineering, a financially troubled South Korean shipbuilder, still ranked No. 1 in the world in terms of order backlog in May for 19 consecutive months, industry data showed on Friday.

The data released by global research firm Clarkson Research Services showed that Daewoo Shipbuilding has a total of 7.478 million compensated gross tons worth of order backlog to build 111 ships.


Daewoo Shipbuilding said its order backlog was worth $39.4 billion as of the end of May.

The news came as the union of Daewoo Shipbuilding voted for a strike earlier this week in protest of the company's restructuring schemes.

Last week, the shipbuilder mapped out a 5.3 trillion won ($4.5 billion) self-rescue plan, approved by its creditors, which includes asset sales and the spinoff of key business units.

South Korean shipbuilders, including Daewoo Shipbuilding, have been under severe financial strain in the face of decreases in new orders amid a protracted slump in the world's economy.

Clarkson Research Services also said Samsung Heavy Industries Co. took second place with 4.397 million CGTs worth of order backlog to build 81 ships.

Samsung Heavy Industries is followed by Hyundai Heavy Industries Co. with an order backlog of 4.335 million CGTs to build 91 ships.

The country's three big shipyards have been implementing massive restructuring programs to tide over mounting losses. (Yonhap)