New Shipbuilding Orders at Chinese Shipyards Up 43% in H1

Chinese shipyards received 55.22 million dwt of new shipbuilding orders in the first half of 2024, up 43.9% year-on-year, driven by tanker orders, including VLCCs, and a recovery in containership orders.

New contracts at Chinese shipyards pushed the total order book to 171.55 million dwt, up 38.6% year-on-year.

Output at the country’s shipyards also rose 18.4% to 25.02 million dwt. Chinese shipyards have been expanding their workforces with workers from the construction sector, which is experiencing a downturn in activity, and some yards are also expanding their facilities.
The volume of new-build exports, newly received export orders and ongoing export orders accounted for 89.1%, 93.5% and 93.6% of the national volume, respectively. The total value of ship exports was US$20.67 billion.

China has consolidated its position as the world's largest shipbuilding country. As of the end of June, China's shipbuilding output, newly received orders and ongoing orders accounted for 55%, 74.7% and 58.9% of the global shipbuilding market share, respectively.

Jiangsu Province, Shanghai, Zhejiang Province, Liaoning Province and Shandong Province were the top five shipbuilding provinces and cities in China, supplying 90.7% of the country's ships in the first half of this year.

Source: Phaata.com (via Seatrade-Maritime)

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