Chinese Shipbuilders Capture 67% of April Orders as Global Newbuild Demand Jumps 21%
Updated
Updated · imarinenews.com · May 11
Chinese Shipbuilders Capture 67% of April Orders as Global Newbuild Demand Jumps 21%
2 articles · Updated · imarinenews.com · May 11
6.49 million CGT of new ship orders were placed globally in April, up 21% from a year earlier and 29% from March, extending the market’s rebound.
Chinese yards won 4.37 million CGT across 156 vessels for a 67% share, while South Korean yards took 1.05 million CGT and 16%, widening the gap from March’s 53%-39% split.
26.07 million CGT of orders were booked in January-April, up 43% year on year; Chinese builders captured 18.52 million CGT, or 71%, versus South Korea’s 18%.
194.18 million CGT sat in the global orderbook at April-end, with China holding 124.25 million CGT, or 64%, and South Korea 37.02 million CGT, or 19%.
183.41 on Clarkson’s newbuilding price index marked a further rise, as South Korea’s HD KSOE said it would focus on higher-value vessels while Chinese yards gain ground in container ships and gas carriers.
As China captures high-value shipbuilding, can South Korea’s premium price strategy survive its rival’s overwhelming dominance?
With Chinese shipyards booked for years, is the world growing too dependent on one nation for its global trade lifelines?