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In the first quarter of 2026, China's shipbuilding industry achieved a "good start": its three major indicators accounted for over 75% of the global total, with both orders and production increasing
On April 2, 2026, the China Shipbuilding Industry Association released the industry's operational data for the first quarter. China's shipbuilding industry delivered an impressive performance with both production and orders increasing. The global market share of the three core indicators all exceeded 75%, hitting a record high.
Core data: Three major indicators lead the world
New orders received: accounting for 78.2% globally, with container ships, LNG carriers, and ultra-large crude oil carriers being the main growth drivers;
Order backlog: accounting for 76.5% globally, with delivery schedules extending to 2030, and capacity utilization operating at a high level;
Completion volume: accounting for 75.1% globally, with the entire industry chain operating efficiently and the delivery pace steadily accelerating.
Among the top ten shipbuilding enterprises globally, Chinese companies occupy 8 seats, while Japan and South Korea only have 2 companies on the list. China's shipbuilding industry has achieved a breakthrough in leading the traditional powerhouses.
Typical enterprises: private enterprises and central enterprises make concerted efforts
Yangzijiang Shipbuilding (China's largest private shipbuilding enterprise)
In the first quarter, 22 new orders were received, with a total value of USD 980 million (approximately CNY 6.76 billion), covering 17 container ships, 4 MR-type product oil tankers, and 1 bulk carrier, with delivery scheduled for 2028-2029. As of the end of March, there were 256 orders on hand, with a total amount of USD 22.78 billion (approximately CNY 157.08 billion), indicating sustained full capacity.
China Shipbuilding
At the end of March, we secured orders for 10 very large crude carriers (VLCCs) with a contract value of RMB 8-9 billion and a delivery period from 2028 to 2030, further securing future revenue and capacity release.
Ningbo Zhejiang Donghong Shipbuilding
The output value in the first quarter increased by 25% year-on-year, and the total output value is expected to increase by 20% this year. The progress of the largest container ship under construction in Xiangshan has reached 40%, and it will be launched at the end of May. The production plan has been arranged until next year.
Growth driver: Dual-driven by the entire industry chain and green transformation
Full industry chain advantage: The localization rate of ship components exceeds 95%, covering hundreds of sub-industries such as steel, machinery, and electronics, with leading delivery speed and cost control capabilities;
Leading in green technology: Chinese shipyards account for over 85% of new orders for green-powered ships globally, aligning with the trend of low-carbon transformation in shipping and undertaking a large number of orders for new energy ship types;
Market demand recovery: Orders for major ship types such as container ships and oil tankers are booming, driven by global supply chain adjustments and the surge in energy transportation demand, resulting in a significant increase in new orders.
Industry outlook: Capacity release and challenges coexist
The China National Shipbuilding Industry Association predicts that by 2026, China's shipbuilding completion volume will exceed 60 million deadweight tons, with a backlog of orders maintaining at over 250 million deadweight tons. The industry will usher in a period of concentrated capacity release. Meanwhile, shipyards need to cope with challenges such as the pressure of ensuring timely delivery of ships, global economic fluctuations, and the upgrading of environmental regulations, while continuously enhancing the competitiveness of high-end ship types.