Chinese shipbuilders have cemented their dominance in container ship construction, accounting for 68.5% of total global container ship orders, according to Alphaliner. The shift marks a dramatic reversal from the historical norm, with South Korea, the former industry leader, now accounting for just 23.3% of the market share.
The change in the rankings did not come out of nowhere. in 2015, China took the lead for the first time with an order book of 900,000 TEUs, even though the total order book in those years was relatively low.
Alphaliner notes that the price advantage that Chinese shipbuilders can offer is currently unmatched. China’s dominance in the container ship sector is particularly evident in 2024, with receiving orders for 3.61 million TEUs, well ahead of South Korean shipbuilders with 660,000 TEUs.
Japan remains a notable but smaller player in the sector, with shipyards such as JMU and Imabari Shipbuilding accounting for just 6.4% of container ship orders.
Looking ahead, the industry landscape is expected to continue to be dominated by China, with strategic capacity expansion projects supporting newbuilding slots extending to 2027 and beyond.
Although South Korean shipbuilders remain important in the construction of large mainline vessels, their market share continues to decline. However, the global order book has reached 8.68 million TEU and extends to 2029 and even 2030. This leaves Korean shipbuilders with great opportunities despite their second place, especially considering the position of other countries in the market.