In the January-November period this year, China attracted 59 percent of new shipbuilding orders (26.6 million CGT, 1,067 ships) globally, ranking first in the global market, while South Korea claimed a 22 percent share (520,000 CGT), ranking second, according to the data issued by Clarksons, the world’s leading provider of integrated shipping services.
In the first eleven months this year, new shipbuilding orders totaling 44.99 million CGT were placed in the global market, down 36 percent year on year, while 17 percent higher than the average level recorded over the past 10 years.
Currently, driven by a massive delivery schedule and capacity expansion of China, global shipbuilding output has been in a phase of growth. According to Clarksons, the global shipbuilding production will reach 43.5 million CGT in 2025, up 6 percent year-on-year, and will see a further increase of 15 percent to 50.1 million CGT in 2026. Meanwhile, the preliminary forecasts indicate that total deliveries in 2027 will hit 54 million CGT, which will approach the peak level seen during the shipbuilding boom in 2010.