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Chinese dominance in global shipbuilding market

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2026-09-26 02:43 UTC → 2026-10-23 03:53 UTC · added removed

China has established a dominant position in the global shipbuilding market. In the first half of 2026, Chinese shipyards secured 82.3% of the global new order tonnage, with new orders reaching 121.06 million deadweight tons (DWT)—a 173.1% increase compared to the previous year. This growth was driven by high freight rates, an aging global fleet, and the necessity of replacing vessels to comply with new emission regulations. Geopolitical tensions affecting oil transport through the Strait of Hormuz also prompted shipowners to secure more vessels for longer routes. By August 2026, data indicated that while global shipbuilding orders saw a monthly decline of 24%, China maintained a significant market share. In August, China accounted for 85% of global orders (3.59 million CGT), while South Korea held 7%. For the cumulative period from January to August 2026, China’s share of global orders stood at 76%. As of the end of August, China held 67% of the total global order backlog. By October 2026, the global shipyard order book reached an estimated 203.2 million compensated gross tonnage (CGT), a 13% increase from the previous year, approaching all-time highs. China has strengthened its leadership, securing 74% of all CGT contracted over the past year. Chinese shipyards currently hold 64% of the total global order book, while South Korea holds 19% and Japan holds 6%. This dominance extends across major cargo sectors, including tankers, gas carriers, and dry bulk, where China maintains over a 72% share in each. Notably, Chinese yards hold an 81% share of the global containership order book. The massive backlog represents approximately 4.2 years of capacity for Chinese shipyards.

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  1. 2026-10-23 03:53 UTC Chinese dominance in global shipbuilding market
  2. 2026-09-26 02:43 UTC Chinese dominance in global shipbuilding market

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