China building 62% of new ships ordered globally

China has cemented its position as the world’s top shipbuilding nation as it secured orders for 3,454 out of a total of 5,735 vessels in the current global orderbook. This represents an orderbook share of 62.42% or a total of 175.4 million gross tons, according to information provided by Greek shipbroking services provider Intermodal.   South Korea ranks second with an orderbook share of 21.39% or 687 ships, while Japan is placed third with a share of 8.83% or 651 units. The Asian nations’ dominance in shipbuilding is supported by the rise in clean fuel-powered ships. As Offshore Energy reported in late December 2024, the world’s dual-fuel fleet surged to 2,119 vessels. The increase seems to be prompted by a tightening regulatory landscape and solid financing opportunities. 

Moving to the US shipbuilding, the orderbook is a small fraction of the total, counting 52 units of about 245,000 gross tons primarily consisting of tugboats and passenger/cruise vessels, Intermodal shared. “However, the U.S. has significant potential for expansion, bolstered by robust investment capabilities, international partnerships (such as with CMA CGM), military shipbuilding expertise, and cutting-edge technologies, combined with the government commitment to grow the national shipbuilding industry. The developments in the shipbuilding market are set to attract significant attention in the coming years,” Nikos Tagoulis, Senior Analyst at Intermodal, believes. “While China, South Korea, and Japan remain dominant forces, the USA, Vietnam, and India are positioning themselves as emerging players, poised to challenge the status quo and strengthen their market presence.” 

The U.S. Trade Representative (USTR) concluded in January that China’s ‘targeted dominance’ in maritime, logistics, and shipbuilding sectors is ‘unreasonable’ and ‘burdens or restricts U.S. commerce’. Ambassador Katherine Tai, who is the principal trade advisor, negotiator, and spokesperson on U.S. trade policy, said that China is building more than 1,700 ships per year, while the US constructs less than five vessels annually. 

 In late February 2025, USTR proposed a measure to charge a fee of up to $1.5 million for Chinese-built vessels entering US ports in an attempt to curb China’s dominance in maritime. This measure, along with several others, targets Chinese ship operators and Chinese-built vessels and promotes the transport of US goods on domestic vessels. Last week, US President Donald Trump also proposed a ‘sweeping’ plan to revive US shipbuilding, pledging renewed efforts to strengthen both military and commercial vessel production while speaking to the US Congress. He unveiled the establishment of a brand-new Office of Shipbuilding in the White House and the introduction of special tax incentives for shipyards to ‘bring back’ manufacturing to US shores, “where it belongs”. 

Following Trump’s announcement, French shipping giant CMA CGM revealed its intention to invest $20 billion over the next four years to strengthen the U.S. maritime transport and logistics, boosting the maritime economy and fostering shipbuilding capabilities. The shipping player said it intends to foster U.S. shipbuilding capabilities, expand port infrastructure, grow logistics networks, and develop air cargo services through the latest investment. 

In the context of the proposed tariffs, China’s foreign ministry held a press conference on March 7, 2025, explaining its position on the issue. The government said that the new US plan could only negatively affect global supply and industrial chains but not necessarily revitalize the United States’ shipbuilding industry.