According to People’s Daily Online, China is solidifying its dominance in global shipbuilding, with its shipyards accounting for 90% of global vessel orders in August 2023, based on date by Clarkson’s Research.
As informed byPeople’s Daily Online, between January and July, China exported 3,470 ships, marking a 28.3% year-on-year increase in volume and an 84.4% rise in value to $24.6 billion. The nation’s shipbuilding industry has seen notable growth, with first-half metrics reflecting an 18.4% increase in output, a 43.9% jump in new orders, and a 38.6% surge in order backlog.
During a briefing on its performance in the first half of the year, China State Shipbuilding Corporation Limited (CSSC) announced its order books are full through 2027 and into 2028. The shipbuilding industry is experiencing a new growth cycle driven by surging market demand, resulting in consistently high order volumes for Chinese shipbuilders.
Recent milestones underscore China’s shipbuilding prowess: the world’s largest ro-ro (roll-on/roll-off) ship was delivered in Nantong, east China’s Jiangsu Province, on August 8, while the “Xin Ming Zhu 39,” built with domestically developed carbon fiber material, launched from Guangzhou’s Nansha district on September 9, challenging foreign technological dominance, People’s Daily Online reports.
Orders are increasingly skewing towards high-tech, high-value ship types like ro-ro, container and liquefied natural gas (LNG) vessels. In the first half of the year, Chinese yards secured 71.7 percent of global green fuel vessel orders.
Meanwhile, CSSC reported that over 50 percent of its new ship orders were for vessels powered by green fuels, while more than 70 percent were for mid-to-high-end vessels. Its three shipyards delivered 38 vessels and booked 65 new orders, with over 90 percent in the mid-to-high-end category, People’s Daily Online concludes.
