The shipbuilding market in China – Outlook to 2022

The global market share of China's shipbuilding industry rose significantly from 2007 to 2017. In 2017, the quantity of completed ships was 42.68 million DWT, increasing by 20.9% YOY; the quantity of new orders was 33.73 million DWT, increasing by 60.1% YOY.

China's shipbuilding industry captured the largest global market share in all the three major indicators with the quantities of completed ships, new orders and orders on hand accounting for 41.9%, 45.5% and 44.6% respectively of the global total. China has become one of the most important shipbuilding centres in the world.

From 2018 to 2022, the global economy and the global shipping market are expected to grow, which will lead to a rising demand for new ships. Meanwhile, the increasing global investment in oil and gas development will require more offshore oil and gas platforms and promote the development of offshore wind farm equipment and LNG related equipment.

It is expected that the export volume of China-made ships will continue to grow from 2018 to 2022 because China's shipping industry has certain cost advantage on the international market.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/01082018/the-shipbuilding-market-in-china-outlook-to-2022/