Chinese shipyards new orders up 51.9 percent to 87.11 million deadweight tons in January - September 2024
China captured over 70 percent of global orders for green vessels and achieved full coverage across all mainstream ship types during the first three quarters of 2024, according to statistics released by the Ministry of Industry and Information Technology on Thursday.
Propelled by advancements in green technologies and innovation, Chinese shipyards saw new orders surge 51.9 percent year-on-year to 87.11 million deadweight tons between January and September, accounting for 74.7 percent of the global total, the MIIT data showed.
Meanwhile, the country's shipbuilding output reached 36.34 million dwt, up 18.2 percent on a yearly basis, making up 55.1 percent of the world's total.
Hu Tieniu, a researcher at the Marine Design & Research Institute of Shanghai Jiao Tong University, said that the notable growth underscores China's commitment to advancing sustainable shipbuilding practices, catering to an increasing global demand for eco-friendly vessels.
Chinese shipbuilders have made significant strides in incorporating green technologies, enhancing the industry's competitiveness and solidifying the nation's position as a leading shipbuilding powerhouse on the world stage, said Yu Mengsa, a researcher at China Ship Scientific Research Center in Wuxi, East China's Jiangsu province.
The latest data also revealed that among 18 major ship types, such as container ships and oil tankers, China ranked first in new orders with 14 of them during the nine-month period. Shipyards across the country have already surpassed their business targets for the year, driven by a surge in market demand.
For example, Shanghai-based Hudong-Zhonghua Shipbuilding (Group) Co Ltd, a subsidiary of China State Shipbuilding Corp, or CSSC, delivered 17 commercial vessels from January to September, with a record-breaking delivery of eight liquefied natural gas carriers anticipated by the end of this year.
"With 34 new ship orders secured, we have reached 200 percent of the annual target for this year, and our production schedules are now projected to extend through to around 2030," said Weng Hongbing, the group's president.
Cao Bo, deputy director at the statistics and information department of the Beijing-based China Association of the National Shipbuilding Industry, said that in response to changes in the new supply and demand environment, green transformation has become a core trend in the global shipbuilding industry.
"Confronted with new requirements for emission reductions, shipping companies, leading shipyards and major energy companies have begun to lead, provide, or invest in a variety of solutions," said Cao.
Energy-efficient, environmentally friendly vessel designs and a range of power options, including methanol, ammonia and hybrid systems, are gradually maturing or rapidly progressing toward commercialization, he added.
China's shipbuilding industry accelerated its green transformation in 2023. Orders for LNG- and methanol-powered green vessels have grown rapidly, with breakthroughs also achieved in zero-carbon vessel orders, including ships equipped with electric and hybrid systems or powered by hydrogen fuel. New orders for green-powered ships accounted for 57 percent of the global market share, data from the MIIT showed.
Fueled by green technologies and high value-added vessels, Jiangsu province exported a diverse range of vessels valued at 69.27 billion yuan ($9.78 billion) in the first eight months of this year, achieving a 75.1 percent year-on-year increase, data from Nanjing Customs shows.
Early this week, models of five 40,000-metric ton self-unloading bulk carriers were unveiled at the research and development unit of CSSC Chengxi Shipyard Co Ltd in Jiangyin, Jiangsu province, providing a design and manufacturing foundation for upcoming new builds.
Huang Gang, a manager of the company's sales unit, said that self-unloading bulk carriers differ from conventional bulk carriers as they are high-value, customized vessels that offer exceptional unloading efficiency and adaptability to various ports and sea conditions. Equipped with built-in unloading arms, these ships can extend and unload autonomously.
For instance, a single unloading system can achieve a discharge rate of over 5,500 tons per hour, meaning a 26,000-ton self-unloading bulk carrier can be unloaded within five hours, while a standard bulk carrier would typically require two to three days to complete the same task.
