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Chinese yards newbuilding orders up 76.7% in the first three quartersChinese yards newbuilding orders up 76.7% in the first three quarters

Newbuilding demand at Chinese shipbuilders has continued apace this year with the volume of newbuilding orders up 76.7% in the first nine months of 2023.

Katherine Si, China Correspondent

November 20, 2023

1 Min Read
LNG carrier under construction at CSSC Jiangnan Changxing.
Photo: CSSC

According to the statistics released by China Association of the National Shipbuilding Industry, China’s shipbuilding output for January to September was 30.74m dwt, an increase of 10.6% year on year, while the 57.34m dwt volume of newly received orders grew 76.7%.

As at the end of September, Chinese shipyards’ orderbook on hand was 133.93m dwt, an increase of 30.6% year-on-year.

Shipbuilding export volume was 26.31m dwt, an increase of 11.8% year-on-year, while newly received export shipbuilding orders were 53.53m dwt, up 82%. Export orders on hand were 124.97m dwt as the end of September, increasing 36.8%.

Shipbuilding volume, newly received shipbuilding orders, and orders on hand of exported vessels, accounted for 85.6%, 93.4% and 93.3% of national volume respectively.

As the end of September, China’s shipbuilding output, newly received orders and orders on hand accounted for 48.7%, 68.5% and 54.7% of the global shipbuilding market share.

Eighteen major Chinese ship repair yards completed a repair volume of 3,26 vessels for the first three quarters of 2023, slightly increased 0.8% year-on-year.

About the Author

Katherine Si

China Correspondent

China-based Katherine Si has worked in the maritime industry since 2008 is well-connected with local industry players including Chinese owners and yards.

Having majored in English Katherine started at news portal ShippingChina.com where she rose to become a News Editor. In 2008 she moved to work with Seatrade and has since held numerous positions including China correspondent for Seatrade Maritime Review magazine.

With extensive experience in writing, research and social media promotion, Katherine focuses on the shipping and transport sectors.

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