The global orderbook currently totals 203.2 million tonnes of Compensated Gross Tonnage (CGT), representing a 13% increase year-on-year. It is just below the all-time high of 210.4 million tonnes of CGT recorded in May.
According to BIMCO data, summarized in an article by Splash247, Chinese shipyards have strengthened their competitive advantage on the market, securing 74% of the CGT tonnage ordered over the last 12 months.
China’s shipbuilding companies currently hold 64% of the global orderbook. South Korea is significantly behind in second place with a 19% market share. Japan follows, with a market share of 6%. Containerships account for 30% of the tonnage on order.
Quoting BIMCO’s chief shipping analyst, Niels Ramussen, the specialist shipping magazine notes that in 2028, Chinese shipyards will deliver the equivalent of 44 million CGT in newbuildings, almost double the 22.7 million CGT in 2025.
According to experts, the growth in China’s manufacturing capacity could lead to a new risk of overcapacity should the number of new orders slow down.
Translation by Giles Foster
