According to the latest data from the Japan Ship Exporters’ Association (JSEA), Japanese shipbuilders’ order backlog now extends through 2029, equivalent to approximately three and a half years of shipbuilding capacity. As of December 31, 2025, Japanese shipbuilders’ order backlog stood at 24.0728 million gross tons.
According to reports, while Chinese and South Korean shipbuilders frequently disclose order information, Japanese shipbuilders exhibit lower levels of transparency, primarily because their orders are mostly secured through private contracts with domestic companies.
In the order book of Japanese shipbuilders, bulk carriers account for the largest share, at 73%; container ships and other vessel types account for 17%. In 2025, Japanese shipbuilders secured contracts for a total of 25 Capesize bulk carriers, while orders for Panamax bulk carriers fell by 20% year-on-year. As a result, the total volume of bulk carrier orders for Japanese shipbuilders, measured in deadweight tonnage, declined by 26%.
In the early 21st century, Japan was the world’s largest shipbuilder; in the years that followed, however, the shipbuilding industries of China and South Korea rose to prominence, causing Japan’s market share to shrink dramatically.
As of 2025, Chinese shipbuilders held a 66% market share, ranking first globally; South Korean shipbuilders held a 19.6% market share, ranking second; while Japanese shipbuilders remained in third place globally, their market share was only 9%. In 2025, Japanese shipbuilders delivered a total of 358 vessels, amounting to 10,144,254 deadweight tons, accounting for 14% of the global total. Global ship deliveries increased by 2.8% year-over-year, totaling 2,920 vessels and 72,266,913 deadweight tons.
Regarding current trends in new shipbuilding, JSEA notes that in 2025, the shipbuilding industry will be primarily affected by the prolonged Russia-Ukraine conflict and geopolitical instability in the Red Sea, while U.S. trade policies and tight capacity at global shipyards will also constrain new ship orders. In terms of gross tonnage, as of December 31, 2025, global shipbuilders’ order backlog totaled 7,468 vessels and 313.4 million gross tons, representing a 5.7% increase in gross tonnage compared to the end of 2024.