The combined orderbook at South Korean shipyards is the smallest in nearly 12 years.
Figures from Clarkson Research Services show vessel contracts have dropped below 29m cgt for the first time since August, 2004, in the prolonged slump.
Yards have ships totalling 28.44m cgt on their books after having won only three confirmed new orders this year.
The Yonhap news agency said the contracts provide up to two years of work.
Korea
