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Newbuilding orders at Chinese shipyards up 43% in H1

Shipbuilding output, new contracts, and orders on hand of China maintained double-digit growth in the first half of this year.

Katherine Si, China Correspondent

August 2, 2024

1 Min Read
Hudong zhonghua shipyard
Photo: CSSC

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 resurgence in container ship orders.

New contracts at Chinese yards have pushed the total orderbook 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 labour force with workers from the construction sector that has 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 national volume respectively. Total ship export value was $20.67 billion.

Listen to a podcast on the outlook for the shipbuilding market

China has reinforced its position as the world’s largest shipbuilding nation. As 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.

Jiangsu province, Shanghai, Zhejiang province, Liaoning province and Shandong province were the top five shipbuilding provinces and city in China, which delivered 90.7% vessels of the national volume in the first half of this year. 

Related:Yangzijiang Shipbuilding’s orderbook reaches record $16.1bn

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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