Domestic and International Shipbuilding Industry News: November 1-13, 2025

China's Shipbuilding Industry Continuesto Lead Global Market Share with Significant Green Transformation Achievements

From November 1 to 13, 2025, the globalshipbuilding industry witnessed frequent developments. China's shipbuildingindustry maintained strong momentum, securing its leading position in globalmarket share while achieving major breakthroughs in green vessel technology.

According to data from the ChinaAssociation of the National Shipbuilding Industry (CANSI), from January toSeptember 2025, China's shipbuilding sector delivered impressive results acrossthree core indicators: ship completion volume reached 38.53 million deadweighttons (DWT), up 6% year-on-year; orders on hand climbed to 242.24 million DWT, a25.3% increase; and despite new orders falling 23.5% to 66.6 million DWT,China's global market share by DWT remained dominant, accounting for 53.8%,67.3%, and 65.2% of the world total across the three metrics respectively. Bycompensated gross tonnage (CGT), market shares stood at 47.3%, 63.5%, and58.6%, respectively, solidifying its global number-one position.

Leading State-owned Shipbuilders PostStrong Performance with Orders Booked Through 2029

Shanghai and Shenzhen-listed shipbuildingcompanies have recently released their Q3 2025 financial reports, showingsteady overall growth. Statistics indicate that among 14 listed companies thatdisclosed results, most achieved year-on-year increases in both revenue and netprofit, reflecting a continuously improving market landscape.

Leading state-owned enterprises performedparticularly well. Among the eight central SOEs including China CSSC Holdings,CSSC Offshore & Marine Engineering (Group) Company Limited, and CSSC PowerGroup, all except CSSC Emergency saw revenue growth. In terms of net profit,only CSSC Science & Technology experienced a decline, with the remainingseven maintaining profit growth. Following its merger with China ShipbuildingIndustry Company (CSICL), China CSSC Holdings led the industry with RMB 107.403billion in revenue, up 17.96% year-on-year, and net profit of RMB 5.852billion, surging 115.41%. The company's report attributed the growth primarilyto improved order structure and higher delivery prices.

CSSC Power Group reported RMB 40.971billion in revenue for the first three quarters, up 11.88% year-on-year, withnet profit of RMB 1.208 billion, rising 62.5%. Increased deliveries of dieselengines and marine machinery, along with higher product prices, were key profitdrivers. CSSC Offshore & Marine achieved revenue of RMB 14.315 billion, up12.83%, and net profit of RMB 655 million, a remarkable 249.84% increase,through optimized production processes and reduced critical-cycle times.

Currently, multiple shipyards have fullorder books, with production schedules extending to 2029. Luo Wenqing, GeneralManager of Dalian COSCO KHI Ship Engineering Co., stated that the company'sexisting orders have filled both dry docks through the first half of 2029. WangXiaohai, General Manager of Hengli Shipbuilding (Dalian) Co., also revealedthat the yard holds approximately 170 orders, primarily from European clients,with delivery slots booked through 2029.

Breakthrough in Green Ship Technologywith Delivery of Ammonia-Fueled Vessel

On November 10, China State ShipbuildingCorporation (CSSC) Qingdao Beihai Shipbuilding delivered the 319,000 DWTammonia-ready Very Large Crude Carrier (VLCC) "ATREBATES" to itsBelgian owner in Qingdao West Coast New Area. As Qingdao's first ammonia-readyVLCC, the vessel was completed seven months ahead of contract schedule. Servingas the lead ship in a series of five, its upgradeable clean ammonia fuelcapability marks a new major breakthrough in China's high-tech greenshipbuilding sector.

The "ATREBATES" was independentlydesigned by CSSC Marine Design & Research Center Ltd. and represents a keyproject for CSSC Beihai Shipbuilding in 2025. Its most striking feature isforward-looking green design. The ship reserves installation space for two6,000 m³ ammonia fuel tanks, along with piping and control system routing,laying a solid foundation for future upgrades. According to technical staff,switching to ammonia fuel would require only 30 days for equipment installationand commissioning, with retrofit costs significantly lower than conventionalsolutions. More critically, using ammonia fuel would enable the vessel toachieve a stable Carbon Intensity Indicator (CII) rating of A and realize"zero-carbon" emissions throughout its lifecycle, perfectly aligningwith global shipping decarbonization trends.

Additionally, on November 5, BeihaiShipbuilding, together with CSSC Trading, held the delivery and naming ceremonyfor the fourth 210,000 DWT LNG dual-fuel bulk carrier "RURI EARTH"for Mitsui O.S.K. Lines (MOL). Designed by CSSC Marine Design & ResearchCenter Ltd., the vessel measures 299.95 meters in length, 50 meters in beam,and 25.2 meters in depth, with a service speed of 14.0 knots. It features anadvanced LNG dual-fuel power system meeting the latest International MaritimeOrganization (IMO) environmental standards.

International Order Activity: ChineseYards Secure Multiple Large Contracts

On November 12, construction of China'ssecond domestically-built large cruise ship "Adora Flora City" atCSSC Shanghai Waigaoqiao Shipbuilding reached 86% completion. At 141,900 grosstons, this vessel presents greater challenges than the first domestic cruiseship "Adora Magic City": its overall length increased by 17.4 metersrequiring hull structure re-optimization; public and outdoor activity areasexpanded by 735 m² and 1,913 m² respectively, demanding higher spaceutilization and safety standards; increased multi-trade concurrent operationshave raised project management complexity.

"Flora City must expand space and addfacilities while strictly controlling weight and costs, reducing constructionman-hours by over 20%," said Wu Xiaoyuan, interior outfitting sitemanager. Through technological innovations—such as an optimized shared supportsystem based on 150+ tests from Magic City that reduced support legs by 30%,saving space and reducing welding deformation risk; a full-ship 3D digitalmodel enabling "virtual shipbuilding" before physical construction,cutting late-stage modifications by 80%; and modular production of 1,100+prefabricated cabins reducing installation time from 200 to 50 hours percabin—the interior outfitting cycle has been shortened by eight months comparedto Magic City.

On November 10, Greek shipowner Thenamarisplaced an order at Waigaoqiao Shipbuilding for two 158,000 DWT Suezmax crudeoil tankers equipped with scrubbers, scheduled for delivery in early 2028.Estimated at approximately $81 million per vessel, the total contract valuereaches $162 million (around RMB 1.154 billion). Industry sources indicatedthat Thenamaris initially approached South Korean shipbuilders but ultimatelychose the Chinese yard due to earlier delivery slots and more competitivepricing.

Furthermore, on November 5, Maersk selectedNew Times Shipbuilding to build 8+4 dual-fuel LNG-powered container ships of18,000 TEU, with deliveries expected between 2028 and 2029. At an estimated$193 million per vessel, the total value would reach $2.316 billion (around RMB16.492 billion) if all options are exercised. Industry observers noted NewTimes Shipbuilding's pricing is relatively low, at the lower end of the rangefor this vessel type. Shipbrokers believe Chinese shipbuilders' quotes are significantlymore competitive than their South Korean counterparts, with each vessel costing$20-30 million (RMB 142-214 million) less.

Global Shipbuilding Dynamics: KoreanShipbuilders Shift Focus to Container Ships

On November 3, major Korean shipyardsrecently secured a series of large container ship orders. Previously focused onLNG carriers as high-value-added vessel types, Korean shipbuilders have turnedto container ships to fill capacity gaps as LNG carrier orders have declined.

According to industry sources, SamsungHeavy Industries recently signed a contract with Taiwan's Evergreen Marine forseven 14,000 TEU container ships at approximately $200 million per vessel. Withthis order, Samsung's cumulative container ship orders this year have reached11 vessels, far exceeding the four secured throughout last year.

HD Hyundai Heavy Industries and HanwhaOcean are also actively filling production slots with other commercial vesselorders like container ships and Very Large Crude Carriers (VLCCs). HD HyundaiHeavy Industries secured eight 13,000 TEU container ships and two VLCCs fromHMM this month, while HMM also ordered four container ships of the samespecification from Hanwha Ocean.

In terms of annual order structure, Koreanshipyards have secured only 15 LNG carrier orders this year—just 31% of lastyear's total of 48. By contrast, container ship orders have reached 78 vessels,far surpassing last year's total of 46. Korean industry observers generallywarn that if LNG carrier orders continue declining while container ship ordersincrease, shipbuilders' profitability could face downward pressure.

US Suspends Section 301 Investigationinto China's Shipbuilding Industry, Boosting Sector Development

On November 10, the US Trade RepresentativeOffice announced it would suspend implementation of Section 301 investigationmeasures against China's shipbuilding and other industries for one year. Chinacorrespondingly suspended its countermeasures. This move marks a thaw inChina-US economic relations, removing short-term uncertainties for China'sshipbuilding sector.

A spokesperson for China's Ministry ofCommerce stated this represents an important step by the US to work with Chinain the same direction and implement the consensus reached at the China-US KualaLumpur economic and trade consultations. China stands ready to communicate andconsult with the US on relevant issues based on principles of mutual respectand equal consultation, and looks forward to the US continuing to work withChina to jointly maintain fair competition in international shipping and shipbuildingmarkets, injecting greater certainty and stability into China-US economiccooperation and the world economy.

Analysts believe the US suspension ofSection 301 measures—including halting port fees on relevant Chinese vesselsand suspending additional tariffs on Chinese ship-to-shore cranes and otherequipment—will directly reduce operating costs for Chinese shipbuilders andhelp them further expand international market share, particularly inhigh-value-added vessel segments.

Global Newbuilding Market: ChineseShipbuilders Captured 73% Market Share in October

According to Clarkson's November 7 data,global newbuilding orders in October 2025 totaled 119 vessels and 2.91 millionCGT, down 38% year-on-year from 4.71 million CGT and 33% month-on-month from4.37 million CGT in September. Chinese shipbuilders secured 98 vessels and 2.13million CGT, capturing 73% of global market share and ranking first. SouthKorean shipbuilders received nine vessels and 520,000 CGT, accounting for 18%of market share and ranking second.

From January to October 2025, globalcumulative newbuilding orders reached 1,392 vessels and 37.89 million CGT, down43% year-on-year from 2,768 vessels and 66.49 million CGT in the same periodlast year. Chinese shipbuilders received 895 vessels and 22.39 million CGT,down 52% year-on-year, with a 59% market share and global first place. SouthKorean shipbuilders secured 183 vessels and 8.06 million CGT, down 15%year-on-year, with a 21% market share and second place.

As of end-October 2025, global orderbacklog stood at 167.79 million CGT, down 50,000 CGT from end-September.China's order backlog reached 101.96 million CGT, up 8.24 million CGTyear-on-year but down 60,000 CGT month-on-month, maintaining first place with a61% market share. South Korea's backlog was 34.28 million CGT, down 3.46million CGT year-on-year but up 50,000 CGT month-on-month, with a 20% marketshare and second place.

Overall, the first half of November 2025has demonstrated China's continued leadership, accelerated greentransformation, and positive corporate performance in the global shipbuildingindustry. China's shipbuilding sector shows strong competitiveness in marketshare, technological innovation, and order backlog, making significantcontributions to the green development and technological advancement of globalshipping.