China's Shipbuilding Industry Tops Global Rankings for 15 Years

[China's Shipbuilding Industry Leads the World for 15 Consecutive Years]

The full-year data for China's shipbuilding industry in 2024 has been officially released, showing that China's shipbuilding industry has ranked first globally in three major indicators for 15 consecutive years. According to data from the Ministry of Industry and Information Technology (MIIT), from January to December 2024, the nation's completed shipbuilding volume reached 48.18 million dwt, up 13.8% YoY; new orders amounted to 113.05 million dwt, up 58.8% YoY; and as of the end of December, the order backlog stood at 208.72 million dwt, up 49.7% YoY.

From January to December, China's completed shipbuilding volume, new orders, and order backlog accounted for 55.7%, 74.1%, and 63.1% of the global total in terms of deadweight tonnage, respectively, and 50.3%, 68.2%, and 55.4% in terms of gross tonnage, respectively.