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China Stretches Lead at the Top of Shipbuilding Stakes - Splash 24/7.

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Updated: Dec 20, 2024




According to Splash 24/7's reproting, China’s grip on global shipbuilding is growing ever stronger, building a sizeable gap from second place, South Korea, with some warning the dominance the People’s Republic exerts in this construction sector could become an early target from the incoming Donald Trump administration in the US.  At the start of the century, China accounted for less than 10% of global ship completions. Within 10 years, however, it had surpassed both Japan and South Korea to become the world’s top shipbuilding nation. Over the past 18 months it has noticeably stretched its lead at the top with many yards announcing plans to increase their capacity, while some mothballed shipyards have been reopened, notably Rongsheng, which by itself adds a full percent in terms of global shipbuilding capacity. Data from Xclusiv Shipbrokers shows that Chinese shipyards experienced a 17% year-on-year surge in new orders across the four main sectors – bulk carriers, tankers, gas, and containers – in the first 10 months of this year. This increased their market share to 74%, up from 63% in 2023’s orders. https://splash247.com/china-stretches-lead-at-the-top-of-shipbuilding-stakes/

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