On October 10, the Ministry of Industry and Information Technology released the latest data on China’s shipbuilding industry for the first three quarters of 2024, showing continued steady growth across the three major indicators.
According to the latest data, from January to September 2024:
- Shipbuilding completions reached 36.34 million deadweight tons (dwt), up 18.2% year-on-year.
- New orders reached 87.11 million dwt, up 51.9% year-on-year.
- Orders on hand as of the end of September reached 193.30 million dwt, up 44.3% year-on-year.
In terms of deadweight tonnage, China’s three major shipbuilding indicators accounted for 55.1%, 74.7%, and 61.4% of the global total, respectively, during the January–September period.
Notably, China secured over 70% of global green ship orders, achieving full coverage across mainstream vessel types. Green, high-value-added, and proprietary technologies emerged as new highlights for China’s shipbuilding industry in the first three quarters.
The latest data also shows that among the 18 major vessel types worldwide, China ranked first globally in new orders for 14 of them. Shipyards have achieved their annual business targets ahead of schedule, driven by rapidly growing market demand.
Li Yanqing, Secretary-General of the China Association of the National Shipbuilding Industry, analyzed the future opportunities for China’s shipbuilding industry, stating: “Green and environmentally friendly shipping, along with smart digital shipping, are two major drivers of change in the shipping industry, and they also bring new opportunities to the shipbuilding industry.”
In recent years, the structure of new ship orders has been continuously optimized. The international market share of new green ship orders reached 57.0%, achieving full coverage across mainstream vessel types, with green and low-carbon transformation accelerating steadily.
