China has solidified its position as the undisputed leader in global shipbuilding. According to the latest analysis by BRS Group, Chinese shipyards captured 70% of global newbuilding orders in 2023, measured in compensated gross tonnage (CGT). With production capacity expanding by 200 ships annually, China now boasts seven of the world’s top ten shipyards.
📈 Explosive Growth in Shipbuilding Capacity & Backlog
China’s shipbuilding industry is scaling rapidly:
- Total Capacity: Projected to reach 47.8 million DWT in 2024 — a 12% year-on-year increase.
- Backlog Ratio: Surged to a record 5.5, up from 3.2 in 2022 and 3.8 in 2023.
- Availability: Most Chinese shipyards are fully booked until 2028, reflecting overwhelming demand.
🚢 Leadership Across Vessel Types
In 2024, China leads global orders for:
- Bulk carriers
- Tankers
- Containerships
The only exception is LNG carriers, where South Korea still holds a lead — though analysts now question how long that dominance will last.
🌍 China: A Maritime Export Powerhouse
China’s shipbuilding industry is heavily export-driven:
- 87.4% of ships built in 2024 were for foreign clients.
- Exports accounted for:
- 91.5% of new orders
- 93.1% of the backlog
- Export Value: Ship exports totaled $43.38 billion USD.
🏭 Top Chinese Shipbuilding Groups
The top five Chinese shipbuilding groups received:
- 179.9 million DWT in new orders
- 69% of domestic orders
- 46.5% of global market share (up from 33% in 2023)
Industry Leader: CSSC (China State Shipbuilding Corporation)
- 34.2% of domestic orders
- 23% of global orders
- 48.2 million DWT in new orders — 3.2x more than South Korea’s HD Hyundai
🔝 Top Shipyards in 2024 (by CGT)
| Shipyard | Ships Built | CGT (Million) |
|---|---|---|
| New Times Shipbuilding | 106 | 4.63 |
| Hudong-Zhonghua | 51 | 4.17 |
| New Yangzi Shipbuilding | 84 | 3.43 |
| Hengli Heavy Industries | 56 | 2.68 |
| Samsung Heavy Industries (Korea) | 37 | 2.50 |
| Hanwha Ocean (Korea) | 37 | 2.46 |
| HD Hyundai Samho (Korea) | 43 | 2.21 |
| Dalian Shipbuilding Industry Corp. | 46 | 1.80 |
| Waigaoqiao Shipbuilding | 35 | 1.61 |
| Jiangnan Shipyard | 37 | 1.55 |
The Maritime-Hub Editorial Team
Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the official policy or position of Maritime-Hub. Readers are advised to research this information before making decisions based on it.
