China's shipbuilding industry sustained its global lead in the first quarter of this year, posting sharp rises in orders, output, and international market share, according to the latest data released by the Ministry of Industry and Information Technology on Saturday.
The data shows that from January to March this year, China completed 15.68 million deadweight tonnes (DWT) of shipbuilding, up 46 percent year on year. Export ships made up 96.1 percent of deliveries. New orders surged 195.2 percent to 59.53 million DWT, while orderbooks as of the end of March amounted to 322.3 million DWT, up 43.6 percent year on year.
"Our output, new orders, and orderbooks all saw clear gains [in the first quarter]. Compared to a year ago, new orders surged dramatically, showing the stability and strength of China's development. The market's growing trust in Chinese shipbuilding, specifically the stability and certainty we provide, is especially valuable in a time of global volatility," said Li Yanqing, vice president of the China Association of the National Shipbuilding Industry.
In the first quarter, China's shipbuilding output, new orders, and orderbooks accounted for 57.3 percent, 84.9 percent, and 69.8 percent of the world market, respectively. In 15 of 18 major vessel types, China led the world in new order volume. With respect to high-capacity vessels, China has secured over 90 percent of international orders for very large crude carriers, large vehicle carriers, bulk carriers, and container ships exceeding 10,000 TEU.
Experts predicted China's shipbuilding indicators will remain on top globally for the rest of the year.
China leads global shipbuilding industry with strong Q1 performance
