According to the China Association of the National Shipbuilding Industry, the country's shipbuilding completion volume reached 53.69 million deadweight tons (DWT) in 2025, marking an 11.4% increase compared to the previous year. New ship orders, however, declined by 4.6% to 107.82 million DWT. By the end of December, the order backlog stood at 274.42 million DWT, reflecting a significant 31.5% growth year-on-year.
In terms of export vessels, completed export ships totaled 47.95 million DWT, up 13.9%. New export orders amounted to 95.10 million DWT, down 8.1%, while the export order backlog reached 253.56 million DWT by year-end, growing 30.5%. Export vessels accounted for 89.3%, 88.2%, and 92.4% of the total completion volume, new orders, and order backlog, respectively.
The value of China's ship exports rose to $55.08 billion, a 26.7% increase. Bulk carriers, oil tankers, and container ships—the three major vessel types—collectively contributed $30.46 billion, representing 55.3% of the total export value.
China maintained its leading position in the global shipbuilding market for the 16th consecutive year. In deadweight tonnage terms, the country's shipbuilding completions, new orders, and order backlog accounted for 56.1%, 69.0%, and 66.8% of the global totals, respectively. In compensated gross tonnage (CGT), the shares were 50.3%, 63.0%, and 59.4%. Six Chinese shipbuilders ranked among the world's top ten in all three key indicators, with the China State Shipbuilding Corporation leading globally.
Significant progress was made in high-end and intelligent shipbuilding. A batch of advanced vessels, including dual-fuel ro-pax ships, large LNG dual-fuel car carriers, and very large ethane carriers (VLEC), were delivered in volume. Fifteen 174,000-cubic-meter LNG carriers were delivered within the year, setting a new national record. The construction cycle for the "Yuanhai Lüzhou" was shortened to under 16 months, achieving a globally leading benchmark. Breakthroughs were also achieved in specialized marine equipment, such as large deep-sea aquaculture vessels, salmon farming ships, rocket recovery vessels, and floating dynamically positioned cage-type workboats.
New orders emphasized both volume and quality, with an accelerated shift toward green and low-carbon solutions. Chinese shipbuilders led globally in new orders for 16 out of 18 major vessel types. The country's market share exceeded 80% for bulk carriers, ro-ro cargo ships, and multi-purpose vessels, and surpassed 70% for container ships, chemical tankers, and product carriers. Green ship orders accounted for 69.2% of the international market. Notable advancements were made in developing environmentally friendly vessel types, including a 192,000-cubic-meter LNG carrier with B-type tanks and electric propulsion, a new-generation 175,000-cubic-meter Mark III Flex membrane-type LNG carrier, and a 30,000-ton ammonia dual-fuel very large crude carrier (VLCC).
The offshore engineering equipment market showed accelerated recovery. China strengthened its leading position in this sector for the eighth consecutive year, securing 113 new offshore projects valued at $10.5 billion, representing 44.6% of the global market share by value. Major deliveries included the world's largest floating liquefied natural gas production unit (FLNG), a new-generation wind turbine installation vessel, and Asia's largest trailing suction hopper dredger, the "Tongjun," with a 35,000-cubic-meter hopper capacity.
Efficiency improvements through lean production methods contributed to enhanced corporate profitability. Leading shipyards integrated digital, networked, and intelligent technologies, deploying robotic cutting lines, automated painting systems, and smart welding robots. Stable market conditions, including steady ship prices and steel costs, also supported earnings. The Clarksons Newbuilding Price Index remained high, hovering around 184 points.
Looking ahead to 2026, global economic growth is expected to remain stable. Worldwide shipbuilding completions are projected to stay around 120 million DWT, with new orders reaching approximately 120 million DWT and the order backlog maintaining above 350 million DWT. China's shipbuilding output is forecast to exceed 60 million DWT, although new orders may see a slight decline. The order backlog is anticipated to remain above 250 million DWT. Challenges such as geopolitical tensions and trade protectionism may increase pressure on shipyards to ensure timely and quality deliveries, while rising production volumes pose additional safety management demands.
Industry recommendations include prioritizing on-time, efficient, and high-quality vessel deliveries by strengthening safety protocols and supply chain management. Companies should also accelerate digital transformation and automation to boost productivity. Enhancing international market presence through global service networks and R&D centers is advised, alongside developing green, intelligent, and integrated vessel solutions. Exploring new growth areas—such as floating green energy storage, deep-sea mining equipment, polar resource development vessels, and domestic innovations like electric inland ships and leisure marine crafts—is also encouraged to foster future industry expansion.
Comments