The global new shipbuilding market has yet to emerge from its slump, with new ship orders in October continuing to decline year-on-year. However, it is noteworthy that Chinese shipbuilders saw a significant month-on-month increase in their market share, demonstrating formidable competitiveness.
According to Clarksons data released on November 7, global new ship orders in October totaled 2.91 million compensated gross tonnages (CGT, 118 vessels). Measured in CGT, this represents a 38% year-on-year decline from the same period last year (4.71 million CGT) and a 33% month-on-month decrease from September (4.37 million CGT).
By country, Chinese shipbuilders secured new orders totaling 2.13 million CGT (98 vessels), capturing a 73% market share to rank first. South Korean shipbuilders secured new orders totaling 520,000 CGT (9 vessels), securing only an 18% market share to follow closely behind.
In September, Chinese and South Korean shipbuilders held monthly order market shares of 40% and 39% respectively, with Chinese shipbuilders narrowly edging out their rivals by a margin of just 1%. According to the latest October data, the gap in monthly order market share between Chinese and South Korean shipbuilders widened to 55%, indicating that China’s position in the global new shipbuilding market remains firmly established.
Data shows that global new ship orders totaled 37.89 million CGT (1,392 vessels) from January to October this year, a 43% decrease compared to the same period last year (66.49 million CGT, 2,768 vessels). During this period, Chinese shipbuilders received 22.39 million CGT (895 vessels), accounting for 59% of the market share, with orders decreasing by 52% year-on-year, ranking first; South Korean shipbuilders received 8.06 million CGT (183 vessels), accounting for 21% of the market share, with orders decreasing by 15% year-on-year, ranking second.
As of the end of October, the global new shipbuilding order backlog stood at 167.79 million CGT, a decrease of 50,000 CGT month-on-month. By country, Chinese shipbuilders held an order backlog of 101.96 million CGT, an increase of 8.24 million CGT year-on-year but a decrease of 630,000 CGT month-on-month, maintaining their leading market share at 61%. South Korean shipbuilders held an order backlog of 34.28 million CGT, a decrease of 3.46 million CGT year-on-year but an increase of 500,000 CGT month-on-month, ranking second with a market share of 20%.
As of the end of October, the Clarkson Newbuilding Price Index stood at 184.87, marking a slight decrease of 0.71 points from the previous month (185.58) and maintaining a stable trend. Compared to October 2020 levels, the index rose by 47%, indicating that the upward trend in ship prices continues.
By vessel type, the newbuilding price for 174,000 m³-class large liquefied natural gas (LNG) carriers stood at approximately $248 million, down $2 million from September; the newbuilding price for very large crude carriers (VLCCs) remained unchanged at around $126 million; The newbuilding price for ultra-large container ships (22,000 TEU-24,000 TEU) is approximately $266.5 million, down $3.5 million from September.