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Carol Yang

China’s shipyards have mounted an astonishing comeback after facing down US efforts to curb their dominance last year, as they saw orders for new vessels nearly double in the first quarter of 2026.
Chinese shipbuilders received 59.53 million deadweight tonnes in new orders during the first three months of the year, a staggering 195.2 per cent increase compared with the same period last year, according to data released by the China Association of the National Shipbuilding Industry on Saturday.
The surge secured China a massive 84.9 per cent share of the global market, leaving South Korea and Japan trailing in second and third place with 12.8 per cent and 1.4 per cent shares, respectively.
China’s dominance was largely driven by rising international demand, with ships for export accounting for 94.9 per cent of new contracts in deadweight tonnage terms.
Analysts attributed this boom to a frenzy of new tanker orders amid the US-Israel war on Iran, as well as fading concerns over a potential return of US port fees targeting China-related vessels.
Global orders for new vessels soared 40 per cent year on year in the first quarter in compensated gross tonnage terms, with new tanker contracts accounting for 32 per cent of total orders, HSBC said in a research note released in late April.
Seventy-five orders for very large crude carriers were placed in the first quarter, the highest quarterly total ever recorded, according to the note.
Xu Yi, a shipping analyst with Haitong Futures, agreed that tankers were a primary driver of China’s bump in orders, while noting that demand in other segments – such as the fundamental need to replace ageing bulk carriers – was also a factor.


“Beyond a complete industrial chain and reliable delivery, China’s technological strides in dual-fuel systems and energy efficiency are increasingly attractive to shipowners,” Xu said. “In an environment of rising energy costs, these efficiency gains are a critical consideration for those looking to modernise their fleets.”
Furthermore, Chinese yards gained market share as customers shrugged off the threat of potential US port fees, according to the HSBC note.
The United States imposed steep port service fees on China-related vessels last year, prompting Beijing to introduce retaliatory measures. But both sides suspended the duties for one year as part of their “trade truce” agreed in November.
Despite this temporary truce, the US is intensifying collaboration with South Korea to revitalise its own maritime industry.
Following a US$150 billion investment plan South Korea agreed last year, the two nations signed a memorandum of understanding in Washington on Friday, establishing the Korea-US Shipbuilding Partnership Initiative (KUSPI).
The KUSPI will leverage a dedicated partnership centre – which is expected to be established in Washington later this year – to channel foreign direct investment into the US maritime industrial base and modernise manufacturing through bilateral research and workforce training, the US International Trade Administration said in a press release.


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China’s shipyards secured a staggering 85 per cent of global orders in the first quarter, as demand for oil tankers surges amid the Iran war


China’s shipyards secured a staggering 85 per cent of global orders in the first quarter, as demand for oil tankers surges amid the Iran war.


China tightens its grip on global shipbuilding, grabbing 85% of new orders

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}China’s shipyards secured a staggering 85 per cent of global orders in the first quarter, as demand for oil tankers surges amid the Iran war

China’s shipyards secured a staggering 85 per cent of global orders in the first quarter, as demand for oil tankers surges amid the Iran war