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70%！China Dominates Global Shipbuilding Market in 2024 H1

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.

by Xinde Marine News Chen Yang

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.

Please Contact Us at：

 

media@xindemarine.com


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