74% of All New Shipbuilding Orders Booked by Chinese Yards in 2024

China has continued its increasing dominance of the shipbuilding industry by reporting that Chinese yards booked 74% of all newbuild orders last year. The country saw overall growth across three shipbuilding indexes; output, newbuilding orders, and orders-on-hand.

According to data released by the China Association of the National Shipbuilding Industry (Cansi), China inked 113.05 million dwt of newbuilding orders, equating to a total market share of 74.1%. This figure far surpasses the numbers achieved by shipbuilding rivals South Korea and Japan over the same period. 

China is also excelling at securing new ‘green’ vessel orders - with Chinese yards accounting for 78.5% of alternative fuel vessel orders in 2024. 

In terms of orders-on-hand, the total orderbook had reached 208.72 million dwt by December 2024, representing a 49.7% increase from the year before. 

Output from Chinese yards also surged in 2024, with a 13.8% year-on-year increase to reach 48.18 million dwt. This equates to a 55.7% share in the global market in terms of output. 

Commenting on the numbers, Li Yanqing, the secretary general of Cansi, said: 

“China’s shipbuilding industry has successfully transformed from the traditional production to the modern shipbuilding pattern. Objectively, no other countries but China can build almost all types of vessels, and we expect more vessels to be delivered in 2025 compared with the year 2024”.

Shipbuilding support in China

Considering engaging in a shipbuilding project in China? Then Brookes Bell can help. 

With a dedicated office in Shanghai, and a team that includes marine engineers, scientists, metallurgists, paint and coatings specialists and more, we are perfectly placed to offer comprehensive support on shipbuilding projects. 

Contact Brookes Bell’s team in Shanghai now

For more maritime industry insights, news and information, read the Brookes Bell News and Knowledge Hub…

China Aims to Dominate the Green Shipbuilding Market | Shell Strikes Major Product Tankers Deal With China | China Dominates With 70% of Global Green Ship Orders