China’s shipbuilding industry has maintained its top position in the global shipbuilding market last year, with strong growth in both output and new orders, according to new data released by the Ministry of Industry and Information Technology.
According to statistics released by China’s Ministry of Industry and Information Technology, China saw its shipbuilding output climb 11.8 percent year-on-year to 42.32 million deadweight tons (dwt) in 2023, accounting for 50.2 percent of the world’s total.
Newbuilding orders surged 56.4 percent year on year to 71.2 million dwt, taking up 66.6 percent of the world’s total during the period.
In 2023, China’s shipbuilding holding orders totaled 139.39 million dwt at the end of December, expanding 32 percent year on year. The volume represented 55 percent of the global market share.
China will continue to uphold its dominant position in the global shipbuilding market this year, leveraging its robust supply chain capabilities and focusing on intelligent and green advancements, market watchers and shipbuilders said on Monday.
Their comments came as the latest data showed that China maintained its top position in the global shipbuilding market last year, with strong growth in both output and new orders.
According to new research for the shipbuilding market in 2023 from Clarksons Research, China was a market share leader in bulkers, tankers and containers, whilst South Korea lead in LNG.
Steve Gordon, managing director of Clarksons Research, commented: “2023 was a year of recovering output, increasing prices and a good flow of orders for the global shipbuilding industry.”
“On a regional level, China produced 50% of yard output and also dominated ordering, while alternative fuels moved to nearly 50% of orderbook tonnage. And while the 2024 delivery profile is dominated by container and gas, the product mix of new orders tilted towards tankers and bulkers,” he added.
