Over the past decade, China has significantly strengthened its position in the global shipbuilding market. The total order book for shipbuilding by Chinese companies has grown by 170%, and China’s share in global shipbuilding orders has reached 65%. This result is achieved through government support and large-scale investments in the national shipbuilding ecosystem, according to the Intermodal report.
As of November 2024, China’s order book stands at 3,256 vessels with a total deadweight of 224 million tons. This is 37% more than in 2023 and 72% more than in 2022. The growth of Chinese shipbuilding has become especially noticeable against the backdrop of a decline in the share of Japan and South Korea, which have reduced their positions from 78% to 31% in recent years.
China’s leadership is impressive: if in 2000 the country’s share of global orders was less than 10%, today it controls the majority of the market, leaving behind its closest competitors in Asia.