China Tightens Grip on Global Shipbuilding as Order Book Hits Near-Record High
China has further cemented its dominance of global shipbuilding, capturing nearly three-quarters of new orders over the past year as the industry’s order book approaches record levels, according to new...
The 24,188 TEU capacity OOCL Spain pictured at the Nantong COSCO KHI Ship Engineering (NACKS) shipyard in Nantong, China. Photo courtesy OOCL
China has further cemented its dominance of global shipbuilding, capturing nearly three-quarters of new orders over the past year as the industry’s order book approaches record levels, according to new analysis from BIMCO.
The global shipyard order book reached an estimated 203.2 million compensated gross tonnage (CGT) as of September 1, 2026, up 13% from 180 million CGT a year earlier. While slightly below the all-time high of 210.4 million CGT reached in May, the backlog remains above the previous record of 195.4 million CGT set in 2008.
Chinese shipyards have been the biggest beneficiaries of the ordering boom, securing 74% of all CGT contracted over the past 12 months. China now controls 64% of the global order book, well ahead of South Korea at 19% and Japan at just 6%.
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