Chinese shipbuilding yards received 55.22 million dwt of newbuilding orders in the first half of 2024, up 43.9% year-on-year, buoyed by tanker orders, including VLCCs, and a resurgence in container ship orders, according to Seatrade Maritime.
New contracts at Chinese yards have pushed the total order book to 171.55 million dwt, up 38.6% year-on-year.
Output at the country’s shipbuilders was also up 18.4% at 25.02 million dwt. Chinese shipbuilders have bolstered their labor force with workers from the construction sector that have experienced a slump in activity, and a number of yards are also expanding facilities.
Shipbuilding export volume, newly received export shipbuilding orders, and export orders on hand accounted for 89.1%, 93.5%, and 93.6% of the national volume, respectively. The total value of ship exports was $20.67 billion.
China has reinforced its position as the world’s largest shipbuilding nation. At the end of June, China’s shipbuilding output, newly received orders, and orders on hand 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, delivering 90.7% of the national volume in the first half of this year.
Source: Port News
