Page 22: of Maritime Reporter Magazine (August 2025)

SHIPBUILDING | ASIA

Hanwha Ocean reaches world- ? rst milestone with 200th LNG carrier delivery earlier this year.

ASIAN NATIONS ASIAN NATIONS

BATTLE FOR BATTLE FOR

Image courtesy Hanwha Ocean

SHIPBUILDING SHARESHIPBUILDING SHARE

China is the leading shipbuilder, but its competitors are working hard to remain in the race.

By Wendy Laursen hina’s share of the tanker orderbook rose from the very largest container ships.” 32.4% in 2022, to 62.6% in 2023 and then Last year, for example, Jiangnan Shipyard and China Ship- 71.2% in 2024. Its share of the container ship building Industry Corporation jointly delivered the Chinese orderbook has shown a similar growth trajec- designed 175,000 cubic meter Mark III Flex membrane LNG

C tory. The nation has ranked ? rst in the world for carrier Al Shelila to ADNOC.

new orders since 2012. Labor costs are about half of what Container ships and LNG tankers make up around 45% they are in Korea and Japan, and China is the world’s cheapest of the capacity on order for delivery during the coming ? ve steel manufacturer. years but only around 25% of the capacity delivered during

Niels Rasmussen, Chief Shipping Analyst at BIMCO, says the past ? ve years, Rasmussen says. Focus has ? rmly shifted that during the past ? ve years Chinese shipyards have built to the largest container ships. The container ships delivered 50% of the ship capacity delivered, and Chinese shipyards during the next ? ve years will on average be 80-85% larger now hold 66% of the ship capacity in the orderbook. “It is than those delivered during the past ? ve years. particularly noteworthy that Chinese shipyards have begun to Chinese yards are looking to maintain their lead in the grow- attract more and more ‘advanced’ ship types that South Ko- ing new fuel and clean technology market, and engine and rean shipyards previously dominated, e.g. LNG tankers and equipment designers are building local capacity. Silverstream 22 Maritime Reporter & Engineering News • August 2025

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