Analysis of the economic operation of China's shipbuilding industry in 2025
2025 is the final year of the "14th Five-Year Plan". China's shipbuilding industry continues to maintain a development trend of steady improvement, steady progress, and stable quality improvement. The three major shipbuilding indicators maintain reasonable range fluctuations, the international market share continues to lead, and the amount of ship exports continues to grow. However, the uncertainty caused by global geopolitical conflicts and anti-globalization development still has an impact on the high-quality development of the shipping industry.
1. Basic situation of economic operation
(1) Two of the three major shipbuilding indicators rose and one fell.
In 2025, China's shipbuilding completion volume will be 53.69 million deadweight tons, a year-on-year increase of 11.4%; new orders will be 107.82 million deadweight tons, a year-on-year decrease of 4.6%. At the end of December, the number of orders on hand was 274.42 million deadweight tons, a year-on-year increase of 31.5%.
The number of completed export ships nationwide was 47.95 million deadweight tons, a year-on-year increase of 13.9%; the number of export ship orders undertaken was 95.1 million deadweight tons, a year-on-year decrease of 8.1%; at the end of December, the number of export ship orders in hand was 253.56 million deadweight tons, a year-on-year increase of 30.5%. Export ships accounted for 89.3%, 88.2% and 92.4% of the national shipbuilding completions, new orders and orders in hand respectively.
1. Basic situation of economic operation
(1) Two of the three major shipbuilding indicators rose and one fell.
In 2025, China's shipbuilding completion volume will be 53.69 million deadweight tons, a year-on-year increase of 11.4%; new orders will be 107.82 million deadweight tons, a year-on-year decrease of 4.6%. At the end of December, the number of orders on hand was 274.42 million deadweight tons, a year-on-year increase of 31.5%.
The number of completed export ships nationwide was 47.95 million deadweight tons, a year-on-year increase of 13.9%; the number of export ship orders undertaken was 95.1 million deadweight tons, a year-on-year decrease of 8.1%; at the end of December, the number of export ship orders in hand was 253.56 million deadweight tons, a year-on-year increase of 30.5%. Export ships accounted for 89.3%, 88.2% and 92.4% of the national shipbuilding completions, new orders and orders in hand respectively.
(2) Ship export value maintains growth
In 2025, the country's export value of shipbuilding products was US$55.08 billion, a year-on-year increase of 26.7%. Among them, the export value of the three mainstream ship types of bulk carriers, oil tankers and container ships totaled US$30.46 billion, accounting for 55.3% of the total export value.
2. Main characteristics of economic operation
(1) Maintaining a leading position in international market share and increasing corporate competitiveness
In 2025, China's status as a major shipbuilding country will be further consolidated, with its market share ranking first in the world for 16 consecutive years. Shipbuilding completions, new orders, and orders on hand accounted for 56.1%, 69.0%, and 66.8% of the world's total in terms of deadweight tonnage, respectively, and accounted for 50.3%, 63.0%, and 59.4% respectively in terms of corrected total tonnage. The international competitiveness of key shipbuilding companies continues to increase, with six companies ranking among the top 10 in the world for shipbuilding completions, new orders and orders on hand. China State Shipbuilding Corporation ranks first among global shipbuilding groups in three major shipbuilding indicators.
In 2025, the country's export value of shipbuilding products was US$55.08 billion, a year-on-year increase of 26.7%. Among them, the export value of the three mainstream ship types of bulk carriers, oil tankers and container ships totaled US$30.46 billion, accounting for 55.3% of the total export value.
2. Main characteristics of economic operation
(1) Maintaining a leading position in international market share and increasing corporate competitiveness
In 2025, China's status as a major shipbuilding country will be further consolidated, with its market share ranking first in the world for 16 consecutive years. Shipbuilding completions, new orders, and orders on hand accounted for 56.1%, 69.0%, and 66.8% of the world's total in terms of deadweight tonnage, respectively, and accounted for 50.3%, 63.0%, and 59.4% respectively in terms of corrected total tonnage. The international competitiveness of key shipbuilding companies continues to increase, with six companies ranking among the top 10 in the world for shipbuilding completions, new orders and orders on hand. China State Shipbuilding Corporation ranks first among global shipbuilding groups in three major shipbuilding indicators.
(2) High-end intelligence has achieved remarkable results, and new productivity has accelerated its development
In 2025, Chinese shipbuilding companies will deliver a batch of high-end and intelligent new equipment for use. Dual-fuel ro-ro passenger ships, large-scale LNG dual-fuel car carriers, very large ethane carriers (VLEC), etc. will be delivered in batches. The delivery of 15 174,000 cubic meter LNG carriers throughout the year has set a new record for China's large-scale LNG ship delivery. The construction period of "Oasis Oasis" has been shortened to 16 months to achieve global leadership. Special ship and sea equipment continues to make breakthroughs, and large-scale deep-sea fishery breeding work ships, salmon breeding work ships, launch vehicle recovery ships, floating dynamic positioning cage-type work ships, and deep-sea green intelligent technology test ships have been delivered to shipowners for use. The overall progress of the second domestic large-scale cruise ship project exceeds 90%, and the overall construction efficiency is 20% higher than that of the first ship. The shipbuilding completion volume exceeded 23.01 million revised gross tons, exceeding the historical high of 22.86 million revised gross tons in 2011. The repair load ratio of completed ships reached 0.43, setting a record high.
(3) The quantity and quality of new ship orders have been steadily improved, and green and low-carbonization has been accelerated.
In 2025, China's new order volume will continue to maintain a high level. Among the 18 major ship types in the world, China has 16 types of ship types ranking first in the world in terms of new order volume. The international share of bulk carriers, ro-ro cargo ships, ro-ro passenger ships, and multi-purpose ships accounts for more than 80%. The international share of container ships, chemical tankers, product oil tankers, and general cargo ships exceeds 70%. The international market share of new green ship orders reached 69.2%. Remarkable results have been achieved in the research and development of new green and environmentally friendly ship types such as the 192,000 cubic meter B-tank electric propulsion LNG carrier, the new generation 175,000 cubic meter Mark III Flex membrane LNG carrier, the 103,000 cubic meter B-tank VLEC, the 19,000TEU LNG & battery hybrid container ship, the 20,000 cubic meter liquid hydrogen carrier, and the 300,000-ton ammonia dual-fuel powered very large tanker (VLCC).
(4) The offshore engineering equipment market has accelerated its recovery, and large-scale high-end equipment has been put into operation.
In 2025, China will further consolidate its leading advantage in the field of offshore engineering equipment, with its market share ranking first in the world for eight consecutive years. It newly undertook 113 ships/seat of various types of offshore engineering equipment worth US$10.5 billion, accounting for 44.6% of the world's share in terms of value. Undertake orders in batches for floating production, storage and offloading units (FPSO), semi-submersible ships, multi-functional support ships, operation and maintenance mother ships, cable laying ships, deck transport ships, self-elevating operating platforms, three-purpose work ships, riprap ships, etc. The world's largest floating liquefied natural gas production unit (FLNG), a new generation of wind power infrastructure installation ship, the world's largest all-electric drive detachable and environmentally friendly cutter suction dredger, and Asia's largest and world-leading ultra-large trailing suction dredger "Tongjun" with a capacity of 35,000 cubic meters were successfully delivered.
(5) Lean production promotes efficiency improvement, and the benefits of shipbuilding companies continue to improve
In 2025, key shipping companies will actively promote the in-depth integration of ship digitalization, networking, and intelligence, and introduce equipment such as strip/profile cutting robot production lines, intelligent coating production lines, digital welding machines, and flexible manufacturing intelligent welding robots, significantly improving production efficiency. At the same time, market factors that affect corporate efficiency, such as ship prices and steel prices, remain stable, and corporate efficiency has been significantly improved. The price of marine 20mm steel plates was basically the same as at the beginning of the year, while the price of 6mm steel plates increased by 3%. Clarkson's new ship price index consolidated at a high of around 184 points.
3. Forecast for 2026
According to the latest economic outlook data released by a number of international institutions, the global economy is expected to maintain steady growth in 2026. The global shipbuilding completion volume will remain at 120 million deadweight tons, the number of new orders will be 120 million deadweight tons, and the number of orders on hand will remain above 350 million deadweight tons; China's shipbuilding completion volume will be more than 60 million deadweight tons, the number of new orders will decrease slightly compared with the previous year, and the number of handheld orders will remain above 250 million deadweight tons. At the same time, in the face of the challenges and uncertainties brought about by the current geopolitical conflicts and trade protectionism, the pressure on my country's shipbuilding companies to ensure the delivery of ships, to deliver ships quickly, and to deliver ships is increasing. With the rapid increase in the production tasks of shipbuilding companies, the challenges faced by shipyards in safety production have become increasingly severe.
In 2025, Chinese shipbuilding companies will deliver a batch of high-end and intelligent new equipment for use. Dual-fuel ro-ro passenger ships, large-scale LNG dual-fuel car carriers, very large ethane carriers (VLEC), etc. will be delivered in batches. The delivery of 15 174,000 cubic meter LNG carriers throughout the year has set a new record for China's large-scale LNG ship delivery. The construction period of "Oasis Oasis" has been shortened to 16 months to achieve global leadership. Special ship and sea equipment continues to make breakthroughs, and large-scale deep-sea fishery breeding work ships, salmon breeding work ships, launch vehicle recovery ships, floating dynamic positioning cage-type work ships, and deep-sea green intelligent technology test ships have been delivered to shipowners for use. The overall progress of the second domestic large-scale cruise ship project exceeds 90%, and the overall construction efficiency is 20% higher than that of the first ship. The shipbuilding completion volume exceeded 23.01 million revised gross tons, exceeding the historical high of 22.86 million revised gross tons in 2011. The repair load ratio of completed ships reached 0.43, setting a record high.
(3) The quantity and quality of new ship orders have been steadily improved, and green and low-carbonization has been accelerated.
In 2025, China's new order volume will continue to maintain a high level. Among the 18 major ship types in the world, China has 16 types of ship types ranking first in the world in terms of new order volume. The international share of bulk carriers, ro-ro cargo ships, ro-ro passenger ships, and multi-purpose ships accounts for more than 80%. The international share of container ships, chemical tankers, product oil tankers, and general cargo ships exceeds 70%. The international market share of new green ship orders reached 69.2%. Remarkable results have been achieved in the research and development of new green and environmentally friendly ship types such as the 192,000 cubic meter B-tank electric propulsion LNG carrier, the new generation 175,000 cubic meter Mark III Flex membrane LNG carrier, the 103,000 cubic meter B-tank VLEC, the 19,000TEU LNG & battery hybrid container ship, the 20,000 cubic meter liquid hydrogen carrier, and the 300,000-ton ammonia dual-fuel powered very large tanker (VLCC).
(4) The offshore engineering equipment market has accelerated its recovery, and large-scale high-end equipment has been put into operation.
In 2025, China will further consolidate its leading advantage in the field of offshore engineering equipment, with its market share ranking first in the world for eight consecutive years. It newly undertook 113 ships/seat of various types of offshore engineering equipment worth US$10.5 billion, accounting for 44.6% of the world's share in terms of value. Undertake orders in batches for floating production, storage and offloading units (FPSO), semi-submersible ships, multi-functional support ships, operation and maintenance mother ships, cable laying ships, deck transport ships, self-elevating operating platforms, three-purpose work ships, riprap ships, etc. The world's largest floating liquefied natural gas production unit (FLNG), a new generation of wind power infrastructure installation ship, the world's largest all-electric drive detachable and environmentally friendly cutter suction dredger, and Asia's largest and world-leading ultra-large trailing suction dredger "Tongjun" with a capacity of 35,000 cubic meters were successfully delivered.
(5) Lean production promotes efficiency improvement, and the benefits of shipbuilding companies continue to improve
In 2025, key shipping companies will actively promote the in-depth integration of ship digitalization, networking, and intelligence, and introduce equipment such as strip/profile cutting robot production lines, intelligent coating production lines, digital welding machines, and flexible manufacturing intelligent welding robots, significantly improving production efficiency. At the same time, market factors that affect corporate efficiency, such as ship prices and steel prices, remain stable, and corporate efficiency has been significantly improved. The price of marine 20mm steel plates was basically the same as at the beginning of the year, while the price of 6mm steel plates increased by 3%. Clarkson's new ship price index consolidated at a high of around 184 points.
3. Forecast for 2026
According to the latest economic outlook data released by a number of international institutions, the global economy is expected to maintain steady growth in 2026. The global shipbuilding completion volume will remain at 120 million deadweight tons, the number of new orders will be 120 million deadweight tons, and the number of orders on hand will remain above 350 million deadweight tons; China's shipbuilding completion volume will be more than 60 million deadweight tons, the number of new orders will decrease slightly compared with the previous year, and the number of handheld orders will remain above 250 million deadweight tons. At the same time, in the face of the challenges and uncertainties brought about by the current geopolitical conflicts and trade protectionism, the pressure on my country's shipbuilding companies to ensure the delivery of ships, to deliver ships quickly, and to deliver ships is increasing. With the rapid increase in the production tasks of shipbuilding companies, the challenges faced by shipyards in safety production have become increasingly severe.
Release time: 2026-03-11
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