Asian Nations Battle for Shipbuilding Share

Asian Nations Battle for Shipbuilding Share

China’s share of the tanker orderbook rose from 32.4% in 2022, to 62.6% in 2023 and then 71.2% in 2024. Its share of the container ship orderbook has shown a similar growth trajectory. The nation has ranked first in the world for new orders since 2012.

China forms largest shipbuilding group to counter US

Amid US efforts to revive its own shipbuilding industry, China has decided to make a significant move and form the world’s largest shipbuilding group. The merger of two state-owned shipyards – the leading company China State Shipbuilding (CSSC) and the smaller partner China Shipbuilding Industry Corporation (CSIC) – is expected to create a giant worth almost $100 billion with headquarters in Shanghai. The move is aimed at increasing the efficien…