China continues to lead the global shipbuilding market
At the end of the first quarter of 2023, China's shipbuilding industry continued to lead the world, occupying the largest share of the international market in terms of both the volume of completed shipbuilding works and the number of new and ongoing orders. This is evidenced by the latest data from the Ministry of Industry and Informatization of the PRC.
According to the Ministry, in the first three months of this year, China completed the construction of ships with a total deadweight of 9.17 million tons. Thus, China accounted for 43.5% of all ships built in the world.
The number of new orders accepted by Chinese shipyards - another important indicator of the development of the shipbuilding industry - reached 15.18 million deadweight tons, which is 53 % up on the same period last year, accounting for 62.9% of all new orders worldwide.
As of the end of March, total Chinese shipyard orders were 114.52 million dwt , up 15.6% year on year. China accounted for 50.8% of the global figure.