Chinese shipbuilding industry

jli88 said:

New numbers in:

For Nov (very volatile, so look at YTD numbers)

1. global shipbuilding orders in November reached 5.13 million compensated gross tonnage (CGT), or 152 ships. This represents an increase from the previous month (2.99 million CGT, or 122 ships) but a decrease from the same month last year (5.17 million CGT, or 184 ships).
2. Korean shipbuilders secured orders for 1.97 million CGT (40 vessels), taking a 38% market share.
3. China secured orders for 2.58 million CGT (100 vessels), taking a 50% market share.

For YTD:

1. cumulative global order volume was 44.99 million CGT (1,627 ships), a 37% decrease compared to 71.52 million CGT (2,994 ships) in the same period last year
2. Korea secured orders for 10.03 million CGT (223 vessels), accounting for 22% of the total.
3. China secured 59% with 26.64 million CGT (1,067 vessels)

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Slightly unrelated, but must point out the miracle that is Korea. For a country with only 50 million people, operating at ~4% the size of China, with even lesser resources available, it has become a giant in many field, be it industry, culture, sports, etc. It punches far beyond its weight. If China were to reach per capita performance of Korea, it would already be pre-eminent in the world.

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December and full year stats are out:

For Full year 2025:

1. global ship orders in 2025 will total 56.43 million compensated gross tons (CGT), a 26.5% decrease from 2024
2. Korea received 11.6 million CGT in orders, a 7.6% increase from 2024. Its market share reached 21%
3. China received orders for 35.37 million CGT, a 34.8% decrease from 2024. Its market share reached 63%, down 8 percentage points from 2024.
4. Japan at 5%.

Other notable observations:

1. Korean orders increased in 2025 while China's decreased. Overall, China had a good year but not the peak of 2024 where it had 70+ % market share.
2. Koreans did really well in LNG, can't find the source now, but apparently China got only 3 LNG orders in 2025, while Korea secured bulk of it.
3. Koreans are predicting a major new cycle of LNG carriers in short term and predicting that they are going to win it all.
4. In 2022, the market share for LNG carrier newbuilds was 67.5% (115 vessels) for Korea and 32.5% (56 vessels) for China. In 2024 the gap narrowed to 57.2% (48 vessels) for Korea and 42.8% (28 vessels) for China.
5. Instead of overtaking Korea, Chinese LNG orders went in reverse, however it was a lean period for orders and could be a blip.

jli88 said:

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These Koreans are now claiming Chinese LNG ships are not as reliable. China needs to crush such false claims.

Hudong has delivered its 7th LNG of 174k cam for COSCO Shipping. In 2025, HDZH delivered 11.

投资建造这7艘船的

中远海运中石油国事

LNG运输项目

作为首个

纯中国背景LNG运输船项目，

中远海运能源、

中石油国事、沪东中华、

昆仑金租携手并进，

共同打造了国内首个

人民币投融资

LNG 运输船标杆项目。

实现了租船、造船、

融资全链条人民币结算。

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so now, COSCO and China has its own LNG carrier fleeting. All investment in RMB. For leasing, it will all be in RMB also.

2024年，

我国液化天然气

进口量超1.3亿吨，

成为全球最大的LNG进口国。

大力发展天然气相关产业

是我国绿色发展的必然要求，

海上LNG产业链

已经成为关乎经济发展

和国家能源安全的重要领域。

提升LNG船的自主设计、

建造及运输能力，

有助于保障我国能源运输安全、

降低对外依存风险。

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China imported 130mt of LNG in 2024, the most in the world. So, this is to provide a fleet where China can carry its own LNG import.

国内LNG船配套供应商

从最初的20多家，

已经发展到如今的130多家，

形成数百亿产值的配套市场，

大型LNG船的国产化配套能力

已提升至80%以上。

核心配套方面，

如双燃料主机、发电机、

低温聚氨酯模块等，

都已实现自主配套。

建造用的工艺装备

96%都实现了国产替代，

沿海内河小型LNG储运装备的

低温核心配套国产化能力达到100%，

极大提升了LNG产业链

供应链的稳定性和韧性。

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There are not 130+ LNG carrier suppliers in China. 80% of parts are using domestic supply chain including core components like dual fuel engine, generator and cryogenic polyurethane modules,

96% of process equipment used in construction has been replaced by domestically produced alternatives.

domestic supply capacity for cryogenic core components
of small LNG storage and transportation equipment for coastal and inland waterways has reached 100%,
greatly enhancing the stability and resilience of the LNG industry
supply chain.

Beihai shipyard is building VLCC for Greek owner Cape Shipping. Will use 2 6000 cbm ammonia fuel storage, so another ammonia fueled ship.


CSSC also signed contract with Singapore owner for 2 old Panamax 90000 cbm VLAC. Will be built by JN shipyard. for the scale limit of old Panmal canal.

Ammonia fuel getting more important.

methanol electric ship of 13000t starts construction. This looks pretty impressive all around. Uses pure electric generators + battery for superior range.

8 x 280kW methanol generator to power 2 x 1000 kW motor

Shanghai continues to grow and now has a substantial lead over Singapore.

jli88 said:

Japan at 5%.

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Damn… Japan has really fallen. Interesting how small Korea is able to compete very well with China than a bigger elsewhile more developed Japan.

JiangNan shipyard has been granted civilian nuclear safety handling by the government.

This would indicate that they can probably build nuclear ice breakers or specialized ships like that.

I'm sure since military side of things is classified, it got this cert after it already received the military cert.

Largest container ports:

1. Shanghai with 55.06 m TEU, 6.9% annual increase
2. Singapore with 44.66 m TEU, with 8.6% annual increase
3. Ningbo-Zhoushan with 43 m TEU

Ningbo-Zhoushan overall is the biggest port in the world, as it handles 1.4 b tonne cargo as well, in comparison, Shanghai handles 0.6 b tonnes cargo, while Singapore handles 0.614 b tonnes of cargo.

jli88 said:

Largest container ports:

1. Shanghai with 55.06 m TEU, 6.9% annual increase
2. Singapore with 44.66 m TEU, with 8.6% annual increase
3. Ningbo-Zhoushan with 43 m TEU

Ningbo-Zhoushan overall is the biggest port in the world, as it handles 1.4 b tonne cargo as well, in comparison, Shanghai handles 0.6 b tonnes cargo, while Singapore handles 0.614 b tonnes of cargo.

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Shipping is not the same as shipbuilding; ports are not the same as shipyards.