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China leads globally in ship orders, output, marking the 13th straight year to hold the largest share of global shipbuilding markets
China topped the globe in three major indicators – contributing 47.3% of global output, receiving 55.2% of new orders and obtaining 49% of holding orders, data from the Industry and Information Technology Ministry show. — Reuters
- Thursday, 02 Feb 2023
The country topped the globe in three major indicators – contributing 47.3% of global output, receiving 55.2% of new orders and obtaining 49% of holding orders, data from the Industry and Information Technology Ministry showed.
Last year marked the 13th straight year for Chinese ship manufacturers to hold the largest share of global markets. Six companies ranked as the world’s top 10 shipbuilding enterprises.
Seizing opportunities from the surging global shipping demand, especially for crude oil and natural gas, amid the Covid-19 pandemic, China further consolidated its position as the world’s major shipbuilder.
Three main shipbuilding clusters have emerged in regions surrounding the Yangtze River Delta, Bohai Rim and Pearl River Delta.
“The shipbuilding industry has entered the recovery cycle, showing a steady upward trend,” said Cao Bo, a researcher with the China Association of the National Shipbuilding Industry.
With the largest shipbuilding market share, China is rising briskly as a manufacturer of quality.
Solid progress has been made, particularly in producing liquefied natural gas (LNG) tankers, which are high-end ships equipped with tanks ensuring the gas is kept in a liquid state at minus 160 degrees Celcius.
Chinese companies received 55 LNG carrier orders in 2022, accounting for over 30% of the world’s total, a record high for the country. “It is a massive breakthrough,” Cao said.
The shipbuilding orders to Hudong-Zhonghua Shipbuilding (Group) Co Ltd, a subsidiary of China’s largest shipbuilding company China State Shipbuilding Corp, are already piling high, with production scheduled until 2028.
China leads globally in ship orders, output
China remained the world’s leading shipbuilder in 2022, grabbing the largest market share and making breakthroughs in high-end ship models.
