In July 2026, global new ship orders were cut in half month-on-month as the market entered a “pause” phase, yet the new shipbuilding price index continued to rise. Against this backdrop, Chinese shipbuilders once again topped the rankings—holding the number-one spot for 16 consecutive months—by securing orders for 111 vessels and commanding an overwhelming 81% market share.
According to monthly newbuilding market data released by Clarkson on August 12, global new shipbuilding orders totaled 3.57 million compensated gross tons (CGT)—comprising 137 vessels—in July 2026; this represents a 56% decrease month-on-month (from 8.03 million CGT) and a 22% decrease year-on-year (from 4.55 million CGT).
The Gap in Order Volumes Between China and South Korea Continues to Widen
By country, Chinese shipbuilders secured orders totaling 2.9 million CGT—comprising 111 vessels—in July, capturing an 81% market share; this represented a month-on-month decrease of 4.05 million CGT and a year-on-year decrease of 540,000 CGT. Meanwhile, South Korean shipbuilders recorded orders of 570,000 CGT (21 vessels), holding a market share of just 16%; this marked a month-on-month decline of 130,000 CGT and a year-on-year increase of 140,000 CGT.
From January to July 2026, the total volume of new shipbuilding orders worldwide reached 50.93 million CGT (1,778 vessels), a 65% increase year-on-year (compared to 30.95 million CGT/863 vessels). During this period, Chinese shipbuilders secured orders totaling 38.02 million CGT (1,394 vessels)—capturing a 75% market share and marking a 61% year-on-year increase—while South Korean shipbuilders secured 8.70 million CGT (218 vessels), representing a 17% market share and a 107% year-on-year increase.
In terms of monthly order volume, although July saw a decline due to factors such as the base effect—with Chinese shipbuilders experiencing a relatively sharp drop—China’s cumulative order advantage remains significant, and the overall cumulative order volume for this year continues to show strong momentum.
Currently, the gap in order share between Chinese and South Korean shipbuilders has widened significantly compared to previous periods. In 2022, the market shares of Chinese and South Korean shipbuilders were 48% and 35%, respectively, with a difference of 13 percentage points; whereas from January to July 2026, their market shares stood at 75% and 17%, respectively, with the gap having widened to 58 percentage points.
With Their Order Books Full, Chinese Shipbuilders Remain in the Lead
As of the end of July 2026, the global orderbook for new ships stood at 211.75 million CGT, an increase of 2.32 million CGT from the previous month, indicating a sustained growth trend in new ship orders.
During the same period, Chinese shipbuilders held orders totaling 140.22 million CGT, accounting for a 66% market share—an increase of 34.64 million CGT year-over-year and 3.61 million CGT month-over-month. South Korean shipbuilders held orders totaling 38.23 million CGT, accounting for an 18% market share—an increase of 3.03 million CGT year-over-year but a decrease of 0.48 million CGT month-over-month.
In terms of undelivered orders, China’s market share is approximately 3.7 times that of South Korea, and it is expected that China’s high share of total shipbuilding volume will continue in the future.
Prices for new ships continue to rise
New ship prices continue to rise. As of the end of July 2026, the Clarksons Newbuilding Price Index stood at 185.49, up 0.34 points from the previous month (185.15). Compared to the level in July 2021 (143.95), this represents an increase of approximately 29%.
By major vessel type, the cost of building a new 174,000-cubic-meter liquefied natural gas (LNG) carrier is approximately $248.5 million; the cost of building a new very large crude carrier (VLCC) is approximately $130.5 million; and the cost of building a new ultra-large container ship (22,000–24,000 TEU) is approximately $259.5 million.