In February, Chinese shipbuilders once again demonstrated their strong competitiveness in the global new shipbuilding market, successfully achieving their 11th consecutive year as the world’s leading shipbuilder!
According to Clarksons Research data released on March 6, global new ship orders in February 2026 totaled 5.21 million compensated gross tons (CGT, 163 vessels), marking a 15% increase compared to the same period last year (4.52 million CGT). This represents a 23% decrease from the previous month (6.76 million CGT).
By country, Chinese shipbuilders received new orders totaling 4.15 million CGT (131 vessels) in February, maintaining their top position with an 80% market share. South Korean shipbuilders received new orders totaling 570,000 CGT (17 vessels), with their market share dropping to 11%, ranking second. Shipbuilders from other countries collectively received new orders totaling 490,000 CGT (15 vessels), with a market share of 9%. Japanese shipbuilders fared poorly in February 2026, receiving no new orders.
With its return to the top of the monthly rankings in February 2026, Chinese shipbuilders have now achieved an 11-month winning streak since April 2025.
Data shows that global new ship orders totaled 11.97 million CGT (359 vessels) in January-February 2026, marking a 29% increase compared to the same period last year (9.30 million CGT, 393 vessels). During this period, Chinese shipbuilders secured orders totaling 8.69 million CGT (261 vessels), capturing a 73% market share. Their order volume surged 80% year-on-year, ranking first globally. South Korean shipbuilders secured orders totaling 2.08 million CGT (50 vessels), holding a 17% market share. Their order volume increased 52% year-on-year, placing them second.
New ship orders continue to show a growth trend. As of the end of February 2026, the global orderbook stood at 183.56 million CGT, an increase of 1.45 million CGT compared to the previous month.
By country, Chinese shipbuilders held orders totaling 114.56 million CGT, an increase of 15.73 million CGT year-on-year and 1.22 million CGT month-on-month, securing a 62% market share and maintaining their leading position. South Korean shipbuilders held 36.47 million CGT in orders, up 160,000 CGT year-on-year and 140,000 CGT month-on-month, accounting for 20% of the market share and ranking second. This indicates that the gap in order volumes between the two countries is widening.
As of the end of February 2026, the Clarksons Newbuilding Price Index stood at 182.14, down 2.15 points from the previous month (184.29), maintaining an overall stable trend. Compared to the level in February 2021 (128.43), it has risen by approximately 42%, indicating a sustained upward trend in ship prices.
By vessel type, the newbuilding price for a 174,000 m³ liquefied natural gas (LNG) carrier is approximately US$248.5 million; for a very large crude carrier (VLCC), it is approximately US$128.5 million; and for a very large container ship (22,000 TEU–24,000 TEU), it is approximately US$261 million.