Home News China’s shipbuilding sector continues to top world market

China’s shipbuilding sector continues to top world market

by Dubai Forum
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BEIJING, 18th September, 2022 (WAM) — China remained the world’s leading shipbuilder in the first eight months of the year, Chinese news agency, Xinhua, reported.

According to the China Association of the National Shipbuilding Industry, the country’s shipbuilding output hit 23.94 million deadweight tonnes (dwt) in the period, accounting for 45.4 percent of the world’s total.

New orders, another major indicator of the shipbuilding industry, stood at 28.05 million dwt, with a global market share of 50.6 percent.

Among the new orders, China’s market share of high-end ship types further expanded, with those of liquefied natural gas ships accounting for nearly 30 percent of the global market share.

China’s shipbuilding holding orders totaled 102.03 million dwt during the period, up 11.5 percent year on year. The volume took up 47.7 percent of the market share globally.

WAM/Amjad Saleh

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