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alent to the total newbuilding tonnage of the previous year. South Korea' shipbuilding industry completed 2 vessels with 6.9 million CGT. Thus South Korea accounted for 3.8% of world production in 2, and reaffirmed its leadership little ahead of Japan, whose yards produced 3 newbuildings with 6.8 million CGT (3.3%). The duel between these two leaders could soon become three-way contest, as demonstrated by fur- ther growth in China' market share. The shipyards of the People' Republic had an output last year of 1 newbuildings with 2.4 million CGT. share of 1.1%. They were followed long way behind by the Europeans Germany (4.1% CGT market share), Italy (3.7%), France (2.3%) and Spain (1.8%). Among the newbuildings delivered in 2, crude oil tankers were in greatest demand, with 1 newbuild- ings and 1.3 million GT/4.9 million CGT, that is share of 2.6% measured in CGT. There were 1 con- tainerships with 6.2 million GT/4.4 million CGT, that is 2.3% of CGT tonnage, followed by product/chemi- cals tankers (3.1 million CGT/1.4%), bulk carriers (3.0 million CGT/1.8%) and passenger ships and fer-ries (2.0 million CGT/9.2%). In terms of orders received by shipyards in the past year, Korea increased its lead with 5 newbuilding orders/1.6 million CGT, to market share of 4.2%. Japan' shipyards received orders for 5 units with 1.5 million CGT, share of 2.3%. China moved closer with 3 newbuildings/5.9 million CGT and market share of 1.8%. German shipbuilders received orders for 8 ships with 1.5 million CGT (3.5% market share). Taiwan rounds out the Top Five, taking 3 newbuilding orders with 0.9 million CGT (2.1%). The newbuilding orders are also characterized by an unbroken boom in containerships, which lead the order lists by far with 4 units a