Chinese shipyards see 59% growth in newbuilding orders for Q1

According to the statistics released by China Association of the National Shipbuilding Industry (CANSI) the country’s shipyard received 24.14 million in newbuilding orders in Q1 2024 up 59% year-on-year.

Meanwhile China’s shipbuilding output was 12.35 million dwt in the first quarter, an increase of 34.7% year-on-year.

As the end of March, Chinese shipyards’ orderbook on hand was 154.04 million dwt, increasing 34.5% year-on-year. 

The shipbuilding output, newly received orders and orders on hand accounted for 53.8%, 69.6% and 56.7% of the global shipbuilding market share, respectively.

Shipbuilding volume of the five main shipbuilding provinces and city, Jiangsu province, Shanghai, Liaoning province, Shandong province and Zhejiang province accounted for 90.1% of the total national volume.

During January and March, Shipbuilding export volume, new orders for export and export orders on hand accounted for 90%, 86.9% and 91.9% of national volume, totaling in the value of $9.92 billion.