On July 16, the Ministry of Industry and Information Technology (MIIT) released the latest data on China’s shipbuilding industry in the first half of 2024, and the three major indicators of China’s shipbuilding industry continue to grow steadily and are globally leading.
From January to June 2024, China’s shipbuilding completion volume of 25.02 million dwt increased by 18.4% year-on-year; the volume of new orders received was 54.22 million dwt, an increase of 43.9% year-on-year; and as of the end of June, the volume of orders in hand was 171.55 million dwt, an increase of 38.6% year-on-year. From January to June 2024, China’s three major indicators of shipbuilding accounted for 55.0%, 74.7% and 58.9% of the global total in terms of deadweight tons.
Orders for high-end vessels saturated, profits up nearly twofold year-on-year
According to China’s central media sources, there is another very bright indicator in China’s shipbuilding industry data released on the 16th, which is the profit amount. In the first five months of this year, China’s shipbuilding industry’s total profits increased nearly two times year-on-year.
The latest data show that: from January to May, the country’s shipbuilding industry enterprises above designated size realized operating income of RMB 253.24 billion, up 26.3% year-on-year; total profit of RMB 16 billion, up 187.5% year-on-year. And China’s shipbuilding industry exports continue to grow.
In addition to more and more orders, higher and higher profits, in the first half of this year’s data, there is also an obvious change, that is, more and more foreign shipowners placed orders in Chinese shipyards. For every 10 new shipbuilding orders in the world, more than 70% of them go to China, as China’s shipbuilding exports continue to grow.