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70%！China Dominates Global Shipbuilding Market in 2024 H1

2024.07.23

China's shipbuilding industry continues its upward trajectory, capturing over 70% of new global orders in the first half of 2024. According to recent data released by the Ministry of Industry and Information Technology:


Key Achievements:

Completed shipbuilding volume reached 25.02 million DWT, up 18.4% year-over-year. 

New orders surged to 54.22 million DWT, a 43.9% increase.

Order book by the end of June stood at 171.55 million DWT, up 38.6%.

Global Leadership:

China leads in 14 out of 18 major ship types.
Profits nearly doubled in the first five months of 2024, reflecting robust market demand and high-value orders.

Technological Advancements:
Significant progress in high-tech, high-value ships like large LNG carriers.
Orders for green-powered vessels constitute 71.7% of new global orders, emphasizing China's commitment to sustainability.

Export Growth:
Ship exports reached $20.67 billion, up 85.2%.
Monthly exports averaged $3.4 billion, growing over 30% month-on-month.

Looking Ahead:
The industry has entered a "highly prosperous zone," indicating strong market activity and investment.
Focus remains on maintaining supply chain coordination and delivering high-quality vessels promptly.

China's shipbuilding prowess reflects its market capabilities, technological innovations, and commitment to a sustainable future. The industry's continued growth and high global market share underscore its pivotal role in the maritime sector.



Source:Xinde Marine News Chen Yang