Newbuilding orders at Chinese shipyards up 43% in H1 2024
Chinese shipbuilding yards received 55.22 million dwt of newbuilding orders in the first half of 2024 up 43.9% year-on-year buoyed by tanker orders, including VLCCs, and resurgence in container ship orders, according to Seatrade Maritime.
New contracts at Chinese yards have pushed the total orderbook to 171.55 million dwt up 38.6% year-on-year.
Output at the country’s shipbuilders was also up 18.4% at 25.02 million dwt. Chinese shipbuilders have bolstered their labour force with workers from the construction sector that has experienced a slump in activity and a number of yards are also expanding facilities.
Shipbuilding export volume, newly-received export shipbuilding orders and export orders on hand accounted for 89.1%, 93.5% and 93.6% of national volume respectively. Total ship export value was $20.67 billion.
China has reinforced its position as the world’s largest shipbuilding nation. As the end of June, China’s shipbuilding output, newly received orders and orders on hand accounted for 55%, 74.7% and 58.9% of the global shipbuilding market share.
Jiangsu province, Shanghai, Zhejiang province, Liaoning province and Shandong province were the top five shipbuilding provinces and city in China, which delivered 90.7% vessels of the national volume in the first half of this year.
