China’s dominance in the shipbuilding industry has reached new heights in recent months, with the country surpassing South Korea to claim the top spot in shipbuilding orders. According to data from British shipbuilding and marine analysis agency Clarkson Research Services, China’s shipbuilding order volume totaled 7.13 million compensated gross tons from 324 vessels in the first 11 months of the year, exceeding South Korea’s 5.74 CGT. This marks the first time in seven years that China has outpaced South Korea in shipbuilding orders, solidifying its position as a global leader in the industry.
Chinese shipyards have been thriving this year, with notable orders from international companies showcasing the industry’s growth and capabilities. In August, French group CMACGM SA placed an order for nine 22,000 twenty-foot equivalent units container vessels with Shanghai Waigaoqiao Shipbuilding Co and Hudong Zhonghua Shipbuilding Co. This significant order highlighted China’s expertise in constructing high-value-added ships and attracting major players in the global shipping market.
Another milestone for China’s shipbuilding industry came in October when China State Shipbuilding Corp, China Investment Corp, and Carnival Corp signed an agreement to invest a total of 25.5 billion yuan ($3.85 billion) in building a super luxury cruise ship. This marked the first order of its kind received by Chinese shipbuilding companies, showcasing their ability to compete in the high-end segment of the market. Dong Liwan, a shipbuilding industry researcher at Shanghai Maritime University, noted that as Chinese shipyards continue to secure orders for advanced vessels, their South Korean counterparts are likely to face increased competition and market pressure.
China’s shipbuilding industry is not only focusing on quantity but also on quality, intelligence, and environmental sustainability. The sector is undergoing a transformation towards more intelligent and eco-friendly practices, driven by a commitment to innovation and technological advancements. Sun Licheng, president of China Classification Society, emphasized the industry’s dedication to achieving technical breakthroughs and enhancing its global competitiveness. He highlighted the shift towards more advanced manufacturing processes and the adoption of environmentally friendly technologies, positioning China as a leader in sustainable shipbuilding practices.
With a goal to become a strong shipbuilding country by 2020, China is prioritizing the development of advanced intelligent manufacturing and industrial equipment capabilities. At the recent All China Maritime Conference and Exhibition, China State Shipbuilding Corporation unveiled the world’s first smart ship, Great Intelligence, boasting a loading capacity of 38,800 metric tons. This innovative vessel represents China’s commitment to embracing cutting-edge technology and setting new standards in the maritime industry. Additionally, COSCO Dalian shipyard has partnered with Thordon Bearings to utilize water lubricated propeller shaft bearings, reducing industry-borne emissions and pollutants. Alex Li, managing director of CY Engineering Co Ltd, emphasized the significance of this collaboration in promoting environmental sustainability within the Chinese shipbuilding sector.
As China continues to strengthen its position in the shipbuilding industry, the focus remains on enhancing competitiveness, innovation, and sustainability. The country’s success in securing major orders and investing in advanced technologies underscores its commitment to driving the industry forward. With a strategic vision to become a global leader in shipbuilding, China is poised to shape the future of maritime transportation and set new standards for excellence in the sector.