In 2023, China’s shipbuilding output, new orders, and handheld orders accounted for 50.2%, 66.6%, and 55.0% of the world total in deadweight tons (DWT) respectively, with its global market share ranking first worldwide for 14 consecutive years. According to the latest data from the Ministry of Industry and Information Technology (MIIT), in the first half of 2024, China’s shipbuilding output reached 25.02 million DWT, new orders 54.22 million DWT, and handheld orders 171.55 million DWT, with the three major indicators accounting for 55%, 74.7%, and 58.9% of the global market share respectively.Shipbuilding output demonstrates the internationally leading scale and strength of China’s manufacturing industry; new orders represent the country’s strong market competitiveness; and handheld orders provide a solid order backlog and secure development foundation. Beyond the figures, scientific and technological innovation, intelligent and green development, and industrial driving forces better illustrate the “new voyage” of quality upgrading in China’s shipbuilding industry. While further consolidating its status as a major shipbuilding country, China is striving to become a global shipbuilding power.

Breakthroughs in High-End Equipment Construction and Full-Spectrum Development of Marine Products

Chinese shipyards have continuously increased R&D investment and achieved successive breakthroughs in the development and construction of high-tech vessels.

In 2023, among the world’s 18 major ship types, China ranked first globally in new orders for 14 types. Among them, new orders for bulk carriers, oil tankers, container ships, and car carriers accounted for 79.6%, 72.1%, 47.8%, and 82.7% of the global total respectively. A number of new-type large-scale offshore wind power installation vessels, deep-sea aquaculture facilities, and floating production storage and offloading units (FPSOs) were delivered in batches. Construction commenced on the world’s largest 3,500-ton self-propelled jack-up offshore wind power installation platform. China’s first domestically built large cruise ship Adora Magic City was officially delivered and put into operation. New breakthroughs were also made in the construction of gas carriers. For instance, Hudong-Zhonghua has been deeply engaged in LNG carriers for 27 years, continuously making key technological breakthroughs, and its products cover a full range from offshore to ocean-going, inland to inland rivers, and from small and large to ultra-large scale. This marks that China has formed a full-spectrum general assembly and construction capacity for marine vessels and equipment.

This year, a number of China’s marine equipment will accelerate upgrading and iteration, supporting the development of a strong maritime country. For example, China’s first ocean drilling vessel Dream, the only one in the world capable of drilling at a depth of 11,000 meters, is preparing for delivery this year. Polar, a major national high-tech facility for polar scientific research, has been launched and floated out. The full-ocean-depth manned submersible Fendouzhe (Striver) is undergoing a comprehensive upgrade in lightweight and intelligent technologies.