Global ship orders from January to April this year dropped by two-thirds to a total of 114 vessels, according to global shipping information provider Clarksons Research on Tuesday.

In the same period last year, 473 vessels were ordered.

Of the 114 vessels ordered so far this year, China obtained 59 vessel orders, taking 49.3 percent of all global ship orders. China’s compensated gross tonnage — an indicator of the amount of work necessary to build a ship — was 1.9 million.

Meanwhile, Korea secured nine vessel orders, which is 5.1 percent of all vessel orders, and Japan secured eight orders, 4.6 percent of global ship orders. Their respective CGT were 200,000 and 180,000.