Foreign Media: China's Shipbuilding Industry Makes a Strong Comeback, Securing 85% of Global New Orders in the First Quarter
Data shows that in the first quarter of 2026, Chinese shipbuilding companies secured new orders totaling 59.53 million deadweight tons, surging 195.2% year-on-year—almost doubling. In terms of global market share, China led with an impressive 84.9%, followed by South Korea at 12.8% and Japan at 1.4%, creating a significant gap. Of the newly acquired orders, export orders accounted for as much as 94.9%, indicating international demand is the primary driver behind this growth surge.
Analysts attribute this explosive growth mainly to two factors: first, the war-related tensions between the U.S. and Iran have triggered a global boom in tanker orders; second, concerns over potential U.S. port fees targeting ships linked to China have eased. According to a HSBC research report released at the end of April, total new orders worldwide rose 40% year-on-year in the first quarter on compensated tonnage basis, with oil tankers accounting for 32% of the total.
Notably, the first quarter saw a record-breaking 75 new orders for Very Large Crude Carriers (VLCCs), marking the highest single-quarter volume in history. This achievement signifies a strong comeback for China’s shipbuilding industry following last year’s pressure from the United States.
Original Article: toutiao.com/article/1864945707552777/
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