In April 2026, the global shipbuilding market saw a renewed surge in order momentum, with new ship orders increasing both month-over-month and year-over-year. Chinese shipbuilders continued to hold an overwhelming market share, while South Korean shipbuilders continued to compete for orders focused on high-value-added vessels.
On May 8, Clarkson released its monthly shipbuilding data, showing that global new ship orders in April 2026 totaled 6.49 million compensated gross tonnages(CGT, 204 vessels), representing a 21% increase year-over-year (from 5.36 million CGT) and a 29% increase month-over-month (from 5.04 million CGT).
By country, in April, Chinese shipbuilders secured orders totaling 4.37 million CGT (156 vessels), accounting for a 67% market share; South Korean shipyards secured new orders totaling 1.05 million CGT (33 vessels), accounting for a 16% market share.
In March, Chinese and South Korean shipbuilders received orders totaling 2.15 million CGT (84 vessels) and 1.59 million CGT (38 vessels), respectively, accounting for 53% and 39% of the market share. Compared with April, the gap in market share between Chinese and South Korean shipbuilders widened once again.
According to Clarksons data, from January to April 2026, global new ship orders totaled 26.07 million CGT (839 vessels), representing a 43% increase year-on-year (18.18 million CGT/722 vessels). During this period, Chinese shipbuilders secured orders totaling 18.52 million CGT (624 vessels), accounting for a 71% market share; South Korean shipbuilders secured orders totaling 4.73 million CGT (123 vessels), accounting for an 18% market share.
As of April 30, 2026, the global orderbook for newbuilds stood at 194.18 million CGT, an increase of 1.12 million CGT from the previous month, indicating a sustained growth trend in newbuild orders. During this period, Chinese shipbuilders held orders totaling 124.25 million CGT, accounting for a 64% market share, an increase of 22.11 million CGT year-on-year and 1.01 million CGT month-on-month; South Korean shipbuilders held orders totaling 37.02 million CGT, accounting for a 19% market share, an increase of 1.54 million CGT year-on-year and 0.62 million CGT month-on-month.
As of the end of April 2026, the Clarkson Newbuilding Price Index stood at 183.41, up 1.34 points from the previous month, indicating a slight upward trend. Compared to April 2021, the index has risen by approximately 37%, suggesting that the overall upward trend in ship prices continues.
Based on certain ship types, the construction cost for a new 174,000 m³ liquefied natural gas (LNG) carrier is approximately $248.5 million; the construction cost for a new very large crude carrier (VLCC) is approximately $130.5 million; and the construction cost for a new ultra-large container ship (22,000–24,000 TEU) is approximately $260.5 million.
Based on the above data, as of April 30, 2026, Chinese shipbuilders held a dominant position in terms of monthly orders, annual orders, and existing order backlog, demonstrating a clear advantage.
In response to the strong order intake by Chinese shipbuilders in the newbuild market, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), a subsidiary of South Korea’s largest shipbuilding group HD Hyundai, stated: “We will continue to secure orders for high-value-added vessel types and adopt a different order-winning strategy from that of Chinese shipbuilders (which primarily focus on oil tankers and bulk carriers) to avoid direct competition with them.”
It is worth noting that, in addition to oil tankers and bulk carriers, China is also highly competitive in securing orders for container ships. The vast majority of container ship orders announced this year have been secured by Chinese shipyards. At the same time, Chinese shipbuilders are gradually expanding their competitive edge in the gas carrier sector, with some shipowners who previously placed orders primarily with South Korean shipbuilders now shifting their construction to China.