China’s shipbuilding dominance has reached unprecedented levels, now holding nearly two-thirds of global orders—a dramatic rise fueled by government support and investment.
China Controls 65% of Global Shipbuilding Orders
China’s shipbuilding dominance has reached unprecedented levels, now holding nearly two-thirds of global orders—a dramatic rise fueled by government support and investment.
Rapid Growth in Shipbuilding
China’s merchant ship orderbook has surged by 170% since 2020, cementing its lead over rivals Japan and South Korea. Data from Intermodal and Clarksons Research shows China’s current share of global shipbuilding orders stands at an impressive 65%, a stark contrast to its less than 10% share in 2000.
Decline of Traditional Rivals
In the same period, Japan and South Korea’s combined market share has dropped from 78% to 31%, highlighting China’s remarkable ascent in the industry.
Record Numbers in 2024
By November 2024, China’s orderbook included 3,256 vessels with a total carrying capacity of 224 million dwt. This marks a 37% increase from 2023 and a 72% rise from 2022, far outpacing the global orderbook growth of 21% in the past year.
With robust government backing and a highly competitive ecosystem, China is set to maintain its shipbuilding dominance, reshaping the global maritime industry.
