Seoul, Dec. 29 -- South Korea is on track to win back a 20 per cent share of the world's shipbuilding orders this year. This recovery comes as global demand for new ships declines and the United States takes steps to slow China's maritime power.

Korea accounted for a 22 per cent share of the global market from January to November, according to a report by The Korea Herald. Data from Clarkson Research shows that Korean shipbuilders received orders for 10.03 million compensated gross tonnage (CGT) during this period.

CGT (Compensated Gross Tonnage) in shipbuilding is a standardised unit used to measure a shipyard's workload and output, accounting for a ship's type and size.

Although Korea's total orders fell 5 per cent compared with last...