China has captured more than 70% of global orders for green vessels and has achieved comprehensive coverage across all major ship types in the first three quarters of 2024, according to recent statistics from the Ministry of Industry and Information Technology (MIIT).
From January to September, Chinese shipyards received new orders totaling 87.11 million deadweight tons (dwt), marking a 51.9% increase year-on-year and representing 74.7% of global orders. During the same period, the country’s shipbuilding output rose to 36.34 million dwt, an 18.2% increase, accounting for 55.1% of worldwide production.
Experts attribute this surge to advancements in green technologies and innovation. Hu Tieniu, a researcher at the Marine Design & Research Institute of Shanghai Jiao Tong University, noted that the growth reflects China’s commitment to sustainable shipbuilding practices amid rising global demand for eco-friendly vessels.
Yu Mengsa, a researcher at the China Ship Scientific Research Center, emphasized that Chinese shipbuilders are integrating green technologies, enhancing their competitiveness and solidifying China’s status as a leading shipbuilding nation.
Data revealed that China ranked first in new orders for 14 out of 18 major ship types, including container ships and oil tankers. Domestic shipyards have exceeded their business targets for the year, driven by robust market demand.
For instance, Shanghai-based Hudong-Zhonghua Shipbuilding (Group) Co Ltd has secured 34 new ship orders, achieving 200% of its annual target. President Weng Hongbing indicated that production schedules may extend through 2030.
Cao Bo, from the China Association of the National Shipbuilding Industry, highlighted the industry’s shift towards green transformation in response to new emission reduction requirements. He noted that shipping companies and major shipyards are increasingly investing in energy-efficient vessel designs powered by alternatives such as methanol, ammonia, and hybrid systems.
China’s green transformation in shipbuilding has accelerated, with LNG- and methanol-powered vessels seeing significant order growth. The MIIT reports that new orders for green-powered ships have captured 57% of the global market share.
In related developments, Jiangsu province exported a diverse range of vessels valued at 69.27 billion yuan ($9.78 billion) in the first eight months of 2024, a 75.1% year-on-year increase, according to Nanjing Customs.
Additionally, CSSC Chengxi Shipyard recently unveiled models of five 40,000-metric ton self-unloading bulk carriers. These vessels offer high unloading efficiency and are designed for adaptability to various ports and sea conditions. The innovative design allows for a discharge rate exceeding 5,500 tons per hour, significantly reducing unloading time compared to conventional bulk carriers.