Which country has the world's biggest shipbuilding industry?
According to the latest data released by the Ministry of Industry and Information Technology of China for the year 2024, China's shipbuilding industry has continued to show steady growth in the three major indicators—completed shipbuilding volume, new orders, and order backlog—remaining the world leader for 15 consecutive years.
The data shows that in 2024, China’s shipbuilding completed volume, new orders, and order backlog, measured by deadweight tonnage, accounted for 55.7%, 74.1%, and 63.1% of the global total, respectively. Among these, both new orders and order backlog were the highest levels in the history of China's shipbuilding industry.
Li Yanqing, Secretary-General of the China Shipbuilding Industry Association, stated that the excellent performance in 2024 reflects the strong foundation of China's shipbuilding industry, which can cooperate with top global suppliers, making it a shared achievement for all. China's shipbuilding industry is not only a part of China but also a significant player globally.
Further data shows that in 2024, China’s shipbuilding completed volume grew by 13.8% year-on-year; new orders increased by 58.8%; and by the end of December, the order backlog rose by 49.7% compared to the previous year. Among the 18 major ship types globally, China’s new orders in 14 types ranked first in the world, with shipyards across the country exceeding their annual operational targets, reflecting the rapid growth in market demand.
What ships did China build in 2024?
Changxing Island in Shanghai is one of China's most important shipbuilding bases, known as the "Shipbuilding Island." In the past year, three major shipyards there—Waigaoqiao Shipbuilding, Jiangnan Shipbuilding, and Hudong-Zhonghua Shipbuilding—delivered a new ship approximately every 5 days on average.
The world’s first fifth-generation large LNG transport ship, representing the highest technological level in the field of large LNG carriers.
The world’s first 2.3 million barrel general-purpose offshore floating production, storage, and offloading unit, marking Waigaoqiao Shipbuilding as the first Chinese shipyard to exceed a total completed tonnage of 100 million deadweight tons.
The world’s largest LNG-powered car carrier, capable of transporting 7,800 cars, boasting high emission cleanliness, low fuel consumption, and strong profitability.
Changes in the Global Shipbuilding Competition
Traditional shipbuilding powerhouses like South Korea and Japan are facing continuous pressure from China. China has become one of the world’s largest shipbuilding nations, occupying a significant market share.
At the same time, an increasing number of small and medium-sized shipyards are also taking orders, with their customer base shifting from major shipowners to more small and medium-sized shipowners.
Famous Shipyards in China
Jiangnan Shipbuilding (Group) Co., Ltd.
Located in Shanghai, Jiangnan Shipbuilding is one of the oldest and most historically significant shipyards in China. With advanced equipment and a top-notch talent pool, it has become an industry leader in ship design, manufacturing, and testing. Founded in 1865, it has witnessed China's shipbuilding industry evolving from nothing to greatness. Major ships include the Type 055 destroyer and the Xuelong 2 polar research vessel.
Waigaoqiao Shipbuilding
Also located in Shanghai, Waigaoqiao Shipbuilding is a key player in China’s shipbuilding industry. It features efficient production modes and advanced shipbuilding technology. Established in 1999, it has grown rapidly by incorporating international technologies and management practices. Representative ships include the Cape-class bulk carrier and ultra-large container ships.
Yangtze River Shipbuilding Group
Based in Jiangsu, Yangtze River Shipbuilding Group is a leading private shipyard in China. It was founded in 1956 and has become a top enterprise in the private shipbuilding sector, expanding its international market presence. Representative ships include the 82,000 DWT bulk carrier and 10,000 TEU container ship.
Dalian Shipbuilding Industry Group Co., Ltd.
Located in Dalian, Liaoning, Dalian Shipbuilding Industry Group is one of China’s major shipbuilding enterprises with strong technical capabilities. Founded in 1898, it has been instrumental in supporting China’s defense and marine economic development. Representative ships include the Liaoning aircraft carrier and 300,000-ton ultra-large oil tankers.
Guangzhou Shipyard International
Located in Guangdong, Guangzhou Shipyard International is one of the largest shipyards in southern China. It specializes in shipbuilding, repair, and conversion. The company has advanced facilities and a skilled technical team. Representative ships include luxury roll-on/roll-off ships and product oil tankers.
China Shipbuilding Huangpu Wenchong Shipbuilding Co., Ltd.
Based in Guangzhou, Guangdong, Huangpu Wenchong Shipbuilding is a large shipbuilding enterprise with a strong reputation in both military and civilian shipbuilding. It has contributed significantly to national defense and economic development. Representative ships include missile frigates and dredgers.
Yangzhou COSCO Shipping Heavy Industry Co., Ltd.
Located in Yangzhou, Jiangsu, Yangzhou COSCO Shipping Heavy Industry, supported by COSCO Shipping Group, has made significant strides in shipbuilding, focusing on quality management and technological innovation. Representative ships include the 208,000-ton Newcastle-type bulk carrier.
Yangtze Xinfu Shipbuilding Co., Ltd.
Located in Jiangsu, Yangtze Xinfu Shipbuilding is a subsidiary of Yangtze River Shipbuilding Group, specializing in the construction of large ships. The company has advanced technology and efficient management, delivering high-quality products. Representative ships include the 400,000-ton ultra-large bulk carrier.
Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.
Located in Shanghai, Hudong-Zhonghua Shipbuilding is renowned for its high-end ship manufacturing capabilities. It plays a crucial role in China's national defense and energy transport sectors. Representative ships include LNG carriers and amphibious assault ships of Type 075.
New Era Shipbuilding Co., Ltd.
Based in Jiangsu, New Era Shipbuilding has rapidly risen to prominence with strong technical capabilities and a focus on product quality and market demand. The company was founded in 1970 and has become a leading enterprise in China's shipbuilding industry. Representative ships include the 325,000-ton ultra-large oil tanker.
