China's Shipbuilding Industry Shines in the First Half of 2024 with Robust Growth and Global Leadership
TapTechNews July 16th news, the Ministry of Industry and Information Technology today released the latest data of China's shipbuilding industry in the first half of 2024, the three major indicators of China's shipbuilding industry continue to grow steadily and lead the world.
The latest data shows that:
In the first half of 2024, China's shipbuilding completion volume was 25.02 million deadweight tons, an increase of 18.4% year-on-year;
The new order volume was 54.22 million deadweight tons, an increase of 43.9% year-on-year;
As of the end of June, the hand-held order volume was 171.55 million deadweight tons, an increase of 38.6% year-on-year,
The three indicators accounted for 55%, 74.7% and 58.9% of the world market share respectively.
According to CCTV News, among the 18 major ship types in the world, China has the largest number of new orders for 14 ship types in the world.
Li Yanqing, secretary-general of the China Shipbuilding Industry Association, said: First of all, the market is still expanding. Only when there is such a demand in the market can our hand-held orders and new orders continue to grow. Nearly 75% of the new orders received in the first half of this year (accounting for the global share), indicating that the Chinese shipbuilding industry can still continue a growth trend, which is very good news and reflects our market ability.
In addition, in the first five months of this year, the total profit of China's shipbuilding industry increased by nearly twice. From January to May, the national-scale shipbuilding industrial enterprises achieved operating income of 253.24 billion yuan, an increase of 26.3% year-on-year; and achieved a total profit of 16.0 billion yuan, an increase of 187.5% year-on-year.
In the first half of this year, the export value of China's ships maintained a steady growth. The export value of ship products was 20.67 billion US dollars (TapTechNews note: currently about 150.268 billion yuan), an increase of 85.2% year-on-year; from a monthly perspective, the monthly average export reached 3.4 billion US dollars (currently about 24.718 billion yuan), and the year-on-year growth rate remained above 30%, ranking first among the exports of key electromechanical products in China.
In terms of green transformation, in the first half of this year, the new orders for green-powered ships received by China's shipbuilding industry accounted for 71.7% of the international share, and achieved full coverage of mainstream ship types.
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