China Retains Top Spot As Global Shipbuilding Market Leader

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Credit: Tom Fisk/Pexels

China remained the world’s leading shipbuilder in the first quarter of this year, grabbing the largest market share and making breakthroughs in high-end ship models plus green shipping.

Global Leader

In the first three month, the country topped the globe in three major indicators, contributing 43.5 percent of global output, receiving 62.9 percent of new orders, and holding 50.8 percent of global orders in terms of deadweight tons (dwt), the data from the Ministry of Industry and Information Technology showed.

During the same period, the country’s shipbuilding output hit 9.17 million dwt, and received new orders totaling 15.18 million dwt, up 53 percent year on year. As of the end of March, the orders in hand topped 114.52 million dwt, with a year-on-year increase of 15.6 percent.

New Orders

In 2022, among the 18 major ship types in the world, China will have a total of 12 ship types ranking first in the world in terms of new orders. And for high-end ship models, Chinese ship makers have seized the favorable opportunities brought by the rebounding car carrier market. In the first quarter of 2023, orders for 24 new car carriers worldwide were held by Chinese firms.

“China State Shipbuilding Corporation has signed a cooperation agreement with France’s CMA CGM Group to produce 12 methanol dual-fuel 15,000-TEU container ships and four LNG dual-fuel 23,000-TEU ones. The total amount of the contract is worth more than 21 billion yuan (about 3.04 billion U.S. dollars),” said Tao Qing, head of the Operation Monitoring and Coordination Bureau under the Ministry of Industry and Information Technology (MIIT).

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Source: Xindermarinenews