Shipbuilding on the rise in South Korea.

• Position: Ports And Shipping

The world's largest shipbuilder, Hyundai Heavy Industries Co, and other South Korean shipbuilders more than doubled their orders in the second quarter as more shipping companies replaced older vessels and exports from Asia rose.

Orders for oil tankers, container ships and other vessels rose to 3.8 million compensated gross tonnes, a measure of building time and manpower used per tonne, worth US$5.2 billion ($7.9 billion). This was an increase from 1.8 million compensated gross tonnes a year earlier, according to the South Korean Ministry of Commerce, Industry and Energy.

Demand for new ships, particularly double-hulled oil tankers, is increasing after on oil spill from a tanker wrecked off the coast of Spain in November...