China’s lead in global shipbuilding may already be fading, new data suggests

China’s dominance of global shipbuilding appears to have been eroded over the past six months, according to the latest industry data, suggesting that US efforts to rein in the country’s shipyards may be starting to bite.

China has been by far the world’s largest shipbuilder for years, but its shipyards saw new orders plunge 68 per cent year on year to 26.3 million deadweight tonnes in the first half of 2025, according to a Monday report from maritime consultancy Clarksons Research.

South Korea, the second-largest player in the industry, saw new orders decline by 7 per cent year on year to 14.2 million deadweight tonnes, but that meant the country gained ground against China in relative terms.

China secured 56 per cent of global new orders in the first half of the year, down from 75 per cent a year earlier, while South Korea’s share rose from 14 per cent to 30 per cent, according to the Post’s calculations.

Analysts said China’s shrinking market share was being driven by US curbs targeting its shipbuilding industry, as well as a broader downturn in global demand.

“This decline is largely attributed to concerns among shipowners worldwide over US measures targeting China’s shipbuilding industry and their subsequent efforts to adapt,” said Han Ning, general manager of the Singapore branch of SHIPBID, a ship bidding platform.