China's three major shipbuilding indicators all showed positive
trends in 2024, data from China's Ministry of Industry and Information
Technology (MIIT) revealed on Thursday, marking the 15th consecutive
year China has led these indicators globally, said state broadcaster
CCTV.
China's shipbuilding completion volume from January to December 2024
accounted for 55.7 percent of the global total, meaning over half of the
ships delivered globally in 2024 were built in China. New orders of
China's shipbuilding industry accounted for 74.1 percent of global
volume and orders on hand accounted for 63.1 percent.
In terms of ship tonnage, China completed 48.18 million tons of
shipbuilding orders, marking a 13.8 percent year-on-year increase. Newly
received order volume reached 113.05 million tons, surging 58.8 percent
year-on-year, and the order at hand hit 208.72 million tons, up 49.7
percent year-on-year, according to MIIT.
Data from China's General Administration of Customs also showed that in
2024, China exported a total of 5,804 ships, representing a 25.1
percent increase from 2023. The export value amounted to $43.38 billion,
up 57.3 percent year-on-year.
China's shipbuilding industry has been making remarkable breakthroughs
in core manufacturing technologies in recent year, Zheng Ping, chief
analyst at industry portal chineseport.cn, told the Global Times on
Thursday, "from 24,000-TEU-level vessels, to LNG carriers and cruise
ships, China now is capable of building nearly all advanced types of
ships."
In 2024, China ranked first in new orders for 14 of the 18 mainstream
ship types globally such as multi-purpose vessels, auto carriers, and
container ships, CCTV reported.
In addition to shifting from quantity to quality in shipbuilding, China
is also at the forefront of adopting advanced technologies like green
ship fuels and intelligent ship operation systems, Zheng noted.
China's new shipbuilding orders for green power vessels have been
steadily increasing their share in the global market, rising from 31.5
percent in 2021 to 78.5 percent in 2024, CCTV reported, and some
shipbuilding companies have made technological reserves in green fuel
areas such as LNG, hydrogen, and ammonia, positioning themselves to
secure orders promptly.
Ships are representative products of the manufacturing sector, as they
integrate industries such as steel, machinery manufacturing,
electronics, and information technology, showcasing China's continuous
manufacturing transformation and upgrade, Cong Yi, a professor at the
Tianjin School of Administration, told the Global Times on Thursday.
China on Wednesday completed the main structure of its second
domestically built large cruise ship, Adora Flora City, in Shanghai,
Xinhua News Agency reported. The construction of the cruise ship took
less than nine months, over two months faster than the first ship, Adora
Magic City, placing its timeline on par with Europe's leading cruise
shipbuilders, said the shipbuilder.
Source: Global Times
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