China’s Shipbuilding Sector Maintains Robust Expansion

China has maintained its top position in the global shipbuilding market in the first 11 months of 2023, with strong growth in both output and new orders, industry data showed.

The country’s shipbuilding output climbed 12.3 percent year on year to 38.09 million deadweight tonnes (dwt) during the January-November period, accounting for 50.1 percent of the world’s total, according to data from the Ministry of Industry and Information Technology.

New orders surged 63.8 percent year on year to 64.85 million dwt, taking up 65.9 percent of the world’s total during the period, figures from the ministry showed.

The sector’s holding orders totaled 134.09 million dwt at the end of November, expanding 29.4 percent year on year. The volume represented 53.4 percent of the global market.

Olusola Akintonde/ China News Agency