China Dominates Global Green Ship Orders, Securing Over 70% Market Share 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, revealing 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 amounted to 36.34 million deadweight tons (DWT), a year-on-year increase of 18.2%; new orders received totaled 87.11 million DWT, up 51.9% year-on-year; and by the end of September, the order backlog stood at 193.3 million DWT, representing a 44.3% year-on-year growth.

From January to September, China's three major shipbuilding indicators, measured in DWT, accounted for 55.1%, 74.7%, and 61.4% of the global total, respectively. Notably, China 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.