Chinese shipyards, facing a drop in orders, plan to divert more capacity towards new-energy and advanced vessels to maintain profitability as they face mounting challenges from South Korean counterparts, industry officials say.
The country’s shipbuilding firms, from gargantuan state-owned China State Shipbuilding Corp (CSSC) to privately owned shipyards, held 65 per cent of global orders in deadweight tonnage terms during the first three quarters of 2025, compared with about 75 per cent a year earlier, according to shipping services provider Clarksons.
Geopolitical tensions resulted in a plunge in orders for Chinese-made vessels this year, which stood at 10.5 million tonnes in the three months to September, down 61 per cent from 26.9 million tonnes a year earlier, Clarksons reported.
“The world economy and shipbuilding industry have entered a new cycle where growth will slow and uncertainties will increase,” said Xing Wenhua, chairman of the Shanghai Society of Naval Architects and Marine Engineers. “China’s shipyards have displayed their resilience and are playing a role in stabilising the global [shipbuilding] supply chain.”
Beijing and Washington agreed to drop the punitive fees after they reached a truce in the trade war at the end of October.