NEWS

Chinese Shipbuilding Enterprises Ranked First in the World in New Orders for the Third Consecutive Year

According to Yonhap News Agency on 31 December 2023, Chinese shipbuilders undertook 59% of the world's newbuilding orders in 2023, ranking first in the world for the third consecutive year in terms of share.

South Korean shipbuilders reportedly saw a sharp decline in order intake in 2023 and ranked second in the world for the third consecutive year after China.

According to preliminary statistics disclosed on 31 December 2023 by Clarkson Research, a UK-based shipbuilding and maritime industry analyst, the global newbuilding order book for 2023 was 41.49 million correction gross tonnes (CGT), a year-on-year decrease of 18.7%, the report said. Among them, South Korean shipbuilders undertook 10.01 million CGT, a year-on-year decrease of 37.6%, accounting for 24%. Chinese shipbuilders undertook 24.46 million CGT, ranking first with 59% share.