China Becomes the Leader of the Global Shipbuilding Industry in 2023, Surpassing the Market Share of Japan and South Korea

In 2023, Chinas shipbuilding industry achieved significant growth. The total shipbuilding volume completed throughout the year was 42.32 million deadweight tons, an increase of 11.8% year - on - year. At the same time, the new order volume reached an astonishing 71.20 million deadweight tons, an increase of 56.4% year - on - year. By the end of the year, the order - book volume was as high as 139.39 million deadweight tons, an increase of 32.0% year - on - year. This achievement means that Chinas market share in the global shipbuilding industry has exceeded the sum of Japan and South Korea, making China a world - leading shipbuilding power.

Globally, Chinas completed shipbuilding volume, new order volume, and order - book volume accounted for 50.2%, 66.6%, and 55.0% of the global total respectively. Calculated by compensated gross tons, these proportions were 47.6%, 60.2%, and 47.6% respectively, maintaining a leading position in the international market in all indicators.

In 2023, as many as 5 to 7 Chinese enterprises ranked among the top 10 in the global completed shipbuilding volume, new order volume, and order - book volume. Domestically, the market concentration of the top 10 shipbuilding enterprises in terms of completed volume, new order volume, and order - book volume reached 58.4%, 60.7%, and 59.2% respectively, demonstrating a high degree of concentration and specialization in Chinas shipbuilding industry.

It is worth noting that nearly 60% of the orders China received in 2023 were for green ships, a significantly higher proportion than in previous years, reflecting Chinas attention and progress in environmental protection and sustainable development in the shipbuilding industry. Data released by the Ministry of Industry and Information Technology show that Chinas share of new order volume was as high as 66.6%, and even calculated by compensated gross tons, this proportion exceeded 60%.

In the competition with Japan and South Korea, Chinas performance was particularly outstanding. According to data from the shipping consulting firm Clarksons, in 2023, Chinas share of global new ship orders calculated by compensated gross tons reached 60%, while South Korea and Japan accounted for only 24% and 11% respectively. The order - receiving volume of Taizhou, Jiangsu, a region in China, even exceeded that of the whole of Japan. Compared with 2022, Chinas market share expanded by more than 9%, while the shares of South Korea and Japan declined by more than 8% and nearly 1% respectively.

In addition, the rise of Chinas shipbuilding industry is not only reflected in the growth in quantity but also in the pursuit of high - tech and high - value - added ships, as well as a positive response to the global green transformation of the shipping industry. This trend not only strengthens Chinas position in the international shipping market but also promotes technological innovation and sustainable development in the global shipbuilding industry.

Against the backdrop of the constantly changing global economic and trade landscape, the achievements of Chinas shipbuilding industry are undoubtedly an important manifestation of its industrial strength and innovation ability. With the development of green ship technology and changes in the demand of the global shipping market, the future development prospects of Chinas shipbuilding industry are promising.