In 2021, the global economy struggled to recover amid the ongoing pandemic. As a key indicator of economic rebound, the shipbuilding industry showed strong growth. China recorded a shipbuilding output of 39.7 million Deadweight Tons (DWT), up 3% year-on-year, with new orders reaching approximately 67 million DWT, surging 131.8%.

▲  A view of the shipbuilding yard of Duchang Shipyard Co., Ltd. in Duchang County of Jiujiang City, east China's Jiangxi Province. (PHOTO: XINHUA)

According to data from shipbroker Clarksons, China led the world in compensated gross tons (CGT), capturing the top spot in annual order volume ahead of South Korea. Chinese shipbuilders secured approximately 22.8 million CGT in orders, accounting for nearly 50% of the global total of 45.7 million CGT, while South Korea held 38% with 17.35 million CGT.

China dominated the container ship segment, driven by rising demand for consumer goods transport. In 2021, the country secured orders for bulk carriers totaling 32.19 million DWT (76.4% of global share) and container ships totaling 27.38 million DWT (60.9% of global share).

▲ The manufacturing area of the Tianjin Xingang Shipbuilding Heavy Industry Co., Ltd. at the Tianjin Port of north China's Tianjin Municipality. (PHOTO: XINHUA)

Data from BUILT by CHINA shows that China ranked first globally in orders for 10 out of 18 mainstream ship types in 2021. Notably, the world’s largest 24,000 TEU container ship, built by China State Shipbuilding Corporation Ltd. (CSSC), was launched in Shanghai. CSSC currently holds nearly 100 large container ship orders, with 16 under construction.

The industry also strengthened its presence in high-tech, high-value vessels, achieving key breakthroughs in green-energy-powered ships, including dual-fuel models.

By the end of December 2021, Chinese shipbuilders held an order book of 95 million DWT, up 34.8% year-on-year. China’s share of global shipbuilding output, new orders, and backlog reached 47.2%, 53.8%, and 47.6% respectively—increasing by 4.1, 5, and 2.9 percentage points compared to 2020.

Six Chinese shipbuilders ranked among the world’s top ten in 2021, enhancing the nation’s competitiveness. CSSC emerged as the global leader, securing about 25 million DWT in orders worth 130 billion RMB, delivering 206 vessels (17 million DWT), and holding 41 million DWT in backlog—accounting for 21.5%, 20.2%, and 20.5% of global market share respectively.

CSSC’s new orders doubled its 2021 annual target, marking a record high since 2008, with 75.2% classified as mid-to-high-end vessel types.