On October 10, the Ministry of Industry and Information Technology released data showing that China's shipbuilding industry achieved significant growth in the first three quarters of 2024.
From January to September, China's shipyards completed 36.34 million deadweight tons (DWT) of shipbuilding, an 18.2% year-over-year increase. New orders surged to 87.11 million DWT, up 51.9%, while the order backlog reached 193.3 million DWT by the end of September, a 44.3% growth. As a result, China's shipbuilding industry accounted for 55.1% of global completions, 74.7% of new orders, and 61.4% of the global order book.
Remarkably, China secured over 70% of the world's green ship orders, covering all mainstream ship types. The focus on green, high-value, and proprietary technology-driven vessels has emerged as a key highlight for the industry.
Of the 18 major global ship types, Chinese shipyards ranked first in new orders for 14 types. With rapid market demand, shipbuilders across the country have already met or exceeded their business targets for the year.
by Xinde Marine News Chen Yang
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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