SunSirs: China’s Shipbuilding Industry Reports First-Quarter Results: Rapid Growth in New Orders

On the 9th, the Ministry of Industry and Information Technology released the latest data on China’s shipbuilding industry. In the first quarter of 2026, the industry’s three key indicators continued to lead the world, marking a strong start to the year.

The latest figures show that from January to March 2026, China’s shipbuilding completions totaled 15.68 million deadweight tons, a year-on-year increase of 46.0%, with export vessels accounting for 96.1% of the total; new orders amounted to 59.53 million deadweight tons, a year-on-year increase of 195.2%; and as of the end of March, the order backlog stood at 322.30 million deadweight tons, a year-on-year increase of 43.6%.

Not only did these three key shipbuilding indicators continue to lead the world, but from January to March 2026, China’s shipbuilding completions, new orders and order backlog accounted for 57.3%, 84.9% and 69.8% of the global market share respectively. Among the world’s 18 major ship types, China ranked first globally in new orders for 15 of them. In the large-vessel sector, China’s international market share for orders of very large crude carriers (VLCCs), large car carriers, bulk carriers and large container ships of 10,000 TEU and above all exceeded 90%. Experts predict that China’s three key shipbuilding indicators will continue to lead the world this year.

Growth in Both Volume and Quality: Over 80% of China’s New Shipbuilding Orders Are for Green Vessels

In the first quarter of this year, China’s shipbuilding industry also delivered impressive results in its green transition, with a flurry of deliveries and mass launches of new energy-powered vessels such as methanol, LNG and all-electric ships. Comprehensive breakthroughs were made in green technologies, and the order structure continued to shift towards high-end and low-carbon vessels.

In the first quarter of this year, China’s independently developed “Kun” series 15,000-TEU methanol dual-fuel container ship was successfully delivered, capable of reducing carbon dioxide emissions by approximately 120,000 tons annually; the 174,000-cubic-metre “Tianshan” large LNG carrier was delivered, featuring the latest generation of dual-fuel systems and meeting the world’s most stringent emission standards; and the “Innovation 19”, China’s first single-fuel methanol-powered river-sea direct bulk carrier, was delivered, reducing carbon dioxide emissions by 90% and achieving virtually zero sulphur oxide emissions. China’s green vessels are characterized by three key features: “comprehensive coverage, technological leadership and mass delivery”.

The latest data shows that in the first quarter of 2026, China’s share of new green vessel orders in the international market reached 80.2 per cent, with new orders covering a wide range of dual-fuel and electric vessels, including LNG, LPG, methanol and ethane carriers.

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