Chinese shipyards secured 71% of global shipbuilding orders in 2024, with seven of the top 10 firms coming from China.
China solidified its dominance in global shipbuilding, capturing 71% of total orders in 2024, according to Clarksons Research. Seven of the world’s top 10 shipbuilders by order volume were Chinese, reinforcing the nation’s leadership in the sector.
China Leads, South Korea Slips
Chinese shipbuilders secured 46.45 million compensated gross tons (CGT), while South Korea lagged behind with 10.98 million CGT across 250 vessels.
Top Shipbuilders in 2024
The top four shipbuilders were all Chinese:
- New Times Shipbuilding
- Hudong-Zhonghua Shipbuilding
- Yangzijiang Shipbuilding
- Hengli Heavy Industry
South Korea’s Samsung Heavy Industries, Hanwha Ocean, and HD Hyundai Samho ranked fifth, sixth, and seventh, respectively.
South Korea’s Market Share Declines
Despite maintaining order volumes similar to 2014, South Korea’s global market share dropped from 29.7% to 17% over the past decade.
This shift underscores China’s growing influence in the shipbuilding industry, shaping the future of global maritime trade.
