Breaking News

China Maintains Global Shipbuilding Dominance in 2023

China Maintains Global Shipbuilding Dominance in 2023 with Strong Output and New Orders Surge

Beijing, January 15, 2024, The Europe Today: In a demonstration of robust growth, China has maintained its paramount position in the global shipbuilding market throughout 2023, as revealed by industry data on Monday. According to statistics from the Ministry of Industry and Information Technology, China’s shipbuilding output experienced a significant 11.8 percent year-on-year increase, reaching 42.32 million deadweight tonnes (dwt) and constituting 50.2 percent of the world’s total.

The data further unveiled a remarkable surge in new orders, escalating by 56.4 percent year on year to 71.2 million dwt. This surge accounted for a substantial 66.6 percent of the world’s total during the same period. At the close of December, the sector’s holding orders reached an impressive 139.39 million dwt, marking a notable 32 percent year-on-year expansion.

Notably, this volume represented a commanding 55 percent of the global market share, affirming China’s unwavering dominance in the dynamic and competitive realm of global shipbuilding.