China’s shipbuilding industry has maintained a strong global position in 2024, marking the 15th consecutive year of leading the industry across three key indicators, reports Global Times.
China leads three shipbuilding indicators
According to Global Times, data from the Ministry of Industry and Information Technology (MIIT) shows that China accounted for 55.7% of global shipbuilding completions, 74.1% of new orders, and 63.1% of orders on hand. In terms of tonnage, China completed 48.18 million tons of shipbuilding orders, a 13.8% increase from the previous year, and saw a significant rise in newly received orders, which surged by 58.8% year-on-year.
Furthermore, China’s shipbuilding industry is making strides in sustainability, with a growing share of new orders for green power vessels. The proportion of such orders increased from 31.5% in 2021 to 78.5% in 2024.
The country has made significant advancements in shipbuilding technologies, capable of constructing a wide range of sophisticated vessels including LNG carriers, cruise ships, and 24,000-TEU-level vessels.
In 2024, China ranked first globally for new orders in 14 out of 18 mainstream ship types, highlighting its leadership in the sector.
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Source: Global Times
