Some major orders were placed this week as shipping companies took advantage of low prices. China won a US$1.1 billion order for very large container ships. South Korea won orders for liquefied natural gas (LNG) carriers. A South American cruise ship project was reported. Russia plans newbuildings to operate on the Northern shipping route along the Arctic circle between Europe and Asia. In the naval sector, France can hope for a long-delayed export order for corvettes. A South Korean destroyer project is moving forward. But the world’s largest shipbuilding group in South Korea reported losses, underlining the continued hard times for global shipyards.