China Dominates Global Green Shipbuilding Market with Over 70% Orders in 2024's First Three Quarters

[China Secures Over 70% of Global Green Ship Orders]: On October 10, the Ministry of Industry and Information Technology released the latest data on China's shipbuilding industry for the first three quarters of 2024, indicating that the three major indicators of China's shipbuilding industry continued to grow steadily. According to the latest data, from January to September 2024, China's shipbuilding completions reached 36.34 million deadweight tons (DWT), up 18.2% year-on-year; new orders amounted to 87.11 million DWT, an increase of 51.9% year-on-year; and the order backlog as of the end of September stood at 193.3 million DWT, up 44.3% year-on-year.

From January to September, China's three major shipbuilding indicators in terms of DWT accounted for 55.1%, 74.7%, and 61.4% of the global total respectively. Notably, China has secured over 70% of global green ship orders and achieved full coverage of mainstream ship types. Green, high value-added, and exclusive technologies emerged as new highlights of China's shipbuilding industry in the first three quarters.