- South Korea’s Shipbuilding Share Jumps to 25.1% in H1 2025.
- U.S. Trade Measures Drive Orders from China to Korean Yards.
- Korean Shipyards See Sharp Rebound in Global Orders.
South Korea’s shipbuilding industry experienced a significant uptick in its share of global orders during the first half of 2025. This surge was largely fueled by a shift in demand away from Chinese competitors, a change prompted by new U.S. trade sanctions, as highlighted in a report released on Tuesday by the Export-Import Bank of Korea, reports The Korea Times.
Global Market Share Rises to 25.1% in H1 2025
In the first half of 2025, South Korea captured 25.1% of global shipbuilding orders (measured in compensated gross tons, or CGT), marking a substantial rise from just 17.2% in the same timeframe in 2024. This improvement has narrowed the gap with China, the leading shipbuilding nation, from 51 percentage points down to 26.7 percentage points.
In 2024, South Korea’s share of annual global shipbuilding orders had plummeted to a mere 15%, the lowest it had been in eight years.
U.S. Measures Drive Shift in Orders
The report credits this rebound primarily to recent U.S. trade policies aimed at Chinese shipbuilders. The U.S. Trade Representative (USTR) implemented port entry fees for Chinese shipping companies and operators of vessels built in China, effectively steering business away from Chinese shipyards. “The shift in orders from Chinese to Korean shipbuilders amid U.S. sanctions has contributed to the increase in Korea’s global market share,” the report said.
Surge in Container Ship Orders for Korea
There’s been a notable surge in container ship orders for South Korea. In the first half of 2025, container ships accounted for a whopping 53.3% of the country’s total order volume, which translates to about 4.87 million CGT. This is a remarkable increase compared to 2024, when South Korean shipyards managed to secure just two orders for midsize-to-large container ships.
Looking Ahead to Long-Term Competitiveness
Even with this positive market shift, the Export-Import Bank of Korea is encouraging the industry to seize this moment to bolster its core competitiveness, ensuring sustainable growth and stability for the future. The bank stressed the need for South Korea’s shipbuilding industry to use this opportunity to enhance its fundamental competitiveness for long-term resilience.
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Source: The Korea Times
