On January 15, the Ministry of Industry and Information Technology(MIIT) released the latest data on China’s shipbuilding industry. Three major indicators of China’s shipbuilding industry ranked first in the world, and China became the only country in the world to achieve comprehensive growth in the three major indicators.
The latest data shows that in 2023, China’s volume of vessel completions was 42.32 million DWT, up 11.8% y/y; the volume of new orders received was 71.2 million DWT, up 56.4% y/y; by the end of 2023, the order book on hand was 139.39 million DWT, up 32.0% y/y, and for the first time in all metrics, recorded a 2-digit growth.
In 2023, China’s shipbuilding completion volume, new orders and orders in hand accounted for 50.2%, 66.6% and 55.0% of the global total in terms of deadweight tonnages, and 47.6%, 60.2% and 47.6% in terms of revised gross tonnages, and the international market share of each of the foregoing indicators remained the first in the world.
In 2023, there were 5, 7 and 6 shipbuilding enterprises in China entering the top 10 in terms of global shipbuilding completion volume, new orders received and hand-held orders respectively.The concentration of the top 10 enterprises in the country’s shipbuilding completion volume was 58.4%, the concentration of the top 10 enterprises in the volume of new orders received was 60.7%, and the concentration of the top 10 enterprises in handheld orders was 59.2%, which continued to maintain a high level.
