Global and Domestic Shipbuilding Industry News Roundup: October 17-24, 2025

Chinese Shipyards Lead Globally withRising Orders and Prices

On October 21, CSSC Huangpu Wenchong signeda contract with Ningbo Ocean Shipping for the construction of four 2,700TEUcontainer ships, with a total value of 1.2 billion yuan. Adopting the latestenergy-saving design, these vessels meet the IMO EEDI Phase III emissionstandards and are scheduled for full delivery in 2027. This marks Ningbo OceanShipping’s second order with Chinese shipyards this year, following a previousorder of six 1,100TEU container ships from Yangzhou COSCO Shipping HeavyIndustry.

Hengli Heavy Industry announced theacquisition of five bulk carrier orders during the same period, including fourKamsarmax and one Capesize vessels, with a total value exceeding 1.5 billionyuan. Four Kamsarmax bulk carriers, each with a deadweight of 82,000 tons, willbe delivered to European shipowner Eastern Mediterranean, equipped withdesulfurization devices and energy-saving appendages. One Capesize bulkcarrier, ordered by Greece’s Seanergy with a deadweight of 180,000 tons, willadopt an LNG dual-fuel power system. Hengli Heavy Industry has accumulated newship orders exceeding 8 billion yuan this year, with a backlog extending to2028.

China Merchants Industry’s Weihai Shipyardsecured consecutive orders for ro-ro ships and container ships. On October 16,the "STENA CONNECTA", a multi-energy ro-ro ship built for Sweden’sStena Group, was named and delivered. Equipped with LNG power and a batteryenergy storage system, the ship can carry 3,000 passengers and 800 vehicles.Meanwhile, Weihai Shipyard returned to the container ship market after adecade, signing a contract with German shipowners for six 1,900TEU feeder shipsat approximately 42 million US dollars per vessel, setting a record for thecompany’s orders of similar ships.

According to data from the Ministry ofIndustry and Information Technology, China’s shipbuilding completion volumereached 38.53 million DWT in the first nine months of 2025, a year-on-yearincrease of 6%. New orders stood at 66.6 million DWT, accounting for 67.3% ofthe global total. Backlog orders reached 242 million DWT, a year-on-yearincrease of 25.3%. All three key indicators maintain global leadership.

Intensified Global Competition:Breakthroughs for South Korea and India

South Korea’s HD Hyundai Heavy Industriesannounced on October 20 the signing of a contract with HMM for two 300,000-tonVLCCs, with a total value of 363.3 billion won (approximately 1.818 billionyuan). The new ships feature optimized hull line design, improving main enginethermal efficiency by 5%, and are expected to be delivered in the secondquarter of 2027. To date, HD Hyundai Heavy Industries’ order intake this yearhas exceeded 100 billion yuan, completing 78.6% of its annual target, withcontainer ships accounting for 65% of the orders.

India’s shipbuilding industry achieved ahistoric breakthrough. On October 21, Cochin Shipyard signed a contract withFrance’s CMA CGM for two 1,900TEU dual-fuel container ships, marking the firsttime an Indian shipyard has secured orders from a major international shippinggiant. Based on HD Hyundai Heavy Industries’ technology platform, the new shipswill be equipped with LNG fuel tanks and methanol-ready design, with a unitprice of approximately 75 million US dollars and delivery scheduled for 2028.The Indian government provides a 20% shipbuilding subsidy for the project andpledges to invest 5 billion US dollars in developing the ship supportingindustry over the next five years.

Taiwan’s Evergreen Marine launched a newfleet expansion plan, investing 20 billion yuan to order 14 13,000TEU dual-fuelcontainer ships. Among them, 8 will be built by Guangzhou ShipyardInternational and 6 by South Korea’s Samsung Heavy Industries. TheseLNG-powered ships will be equipped with shaft generators and exhaust gasrecirculation systems, with a unit price of approximately 143 million USdollars, and are expected to be delivered in batches between 2028 and 2029.

Accelerated Green Transition:Technological Innovation as Core Competitiveness

The world’s first methanol dual-fuelconversion project for large container ships was unveiled in Shanghai onOctober 19. COSCO Shipping’s "COSCO Shipping Libra" completed thesimultaneous conversion of its main and auxiliary engines, adopting aship-to-ship methanol bunkering solution. After conversion, the ship’s annualcarbon emissions can be reduced by approximately 30%. The project innovativelyapplies a modular fuel supply system, shortening the conversion cycle to 120days (40% shorter than traditional schemes), providing a replicable model forthe green upgrade of existing global ships.

On the same day, Zhongjiang Shipbuildingsigned a contract with Chongqing Jinhai Jieya Shipping for China’s first 130TEUpure LNG-powered container ship. Equipped with two 40-foot LNG storage tanksand a range of 2,000 nautical miles, the ship will be deployed for containertransportation on the Yangtze River main line. Scheduled for delivery in thefirst quarter of 2026, it will become the largest LNG-powered container shipfor inland rivers in China.

In technological R&D, Jiangnan Shipyardsigned a procurement contract with Shanghai Zhenhua Heavy Industries for a1,600-ton gantry crane on October 16. The equipment, with a lifting height of130 meters, will be used for the assembly of ultra-large LNG carriers, meetingthe hoisting needs of 270,000-cubic-meter LNG ship hull blocks. Meanwhile,China Merchants Industry’s Yangzhou Dingheng New Energy Marine EquipmentR&D Center was inaugurated, focusing on cutting-edge technologies such asmethanol/ammonia fuel supply systems and hydrogen fuel cells.

Focus on Industrial Chain Security:Strengthened Policy Regulation

In response to the recent Section 301investigation measures on the shipping sector implemented by the United States,China’s Ministry of Transport announced the launch of a security investigationinto the shipping industry and related industrial chains on October 14. Theinvestigation will focus on assessing the impact of US measures on China’sshipbuilding, shipping, port and other industries, as well as the stability ofglobal supply chains. A spokesperson for the Ministry of Transport stated thatthe US measures seriously violate WTO rules, and China will take necessarycountermeasures in accordance with the law to safeguard industrial security.

Industry analysts point out that the globalshipbuilding industry is facing multiple uncertainties. TheJapan-Europe-China-South Korea Shipbuilding Summit was held in Imabari, Japan,from October 15 to 17. Zhao Tongbin, Deputy General Manager of China StateShipbuilding Corporation, noted at the meeting that risks such as slowingglobal economic growth, intensified geopolitical conflicts, and spreading tradeprotectionism cannot be ignored. He called for strengthened internationalcooperation to jointly maintain a fair market order. The meeting predicted thatglobal new ship orders will decline by approximately 40% year-on-year in 2025,but the proportion of green ships is expected to exceed 40%, becoming a keymarket growth driver.

With the official implementation of IMO’s2025 Carbon Intensity Indicator (CII), shipowners are accelerating thephase-out of high-energy-consuming ships. Clarksons Research data shows thatcurrently, 23% of global bulk carriers and 18% of oil tankers are over 20 yearsold, and replacement demand will continue to be released over the next threeyears. China Association of the National Shipbuilding Industry predicts thatglobal annual new ship demand will remain above 100 million DWT from 2025 to2027, with green ships and high-end equipment becoming the focus ofcompetition.