BEIJING: China’s shipbuilding industry will retain its top spot globally this year, by capitalising on robust industrial chain capabilities and prioritising advancements in intelligent and green technical solutions, say analysts and shipbuilders.

Despite the US launching a Section 301 investigation into China’s shipbuilding business earlier this year, they said the growth momentum of Chinese shipyards will remain competitive and support China’s exports in the second half.

This is because their strength stems from a combination of factors that cannot be constrained merely by tariffs or other trade remedy measures.

Chinese shipyards saw new orders surge 43.9% year-on-year to 54.22 million deadweight (dwt) tonnes in the first half of the year, accounting for 74.7% of the global total, according to data released by the Industry and Information Technology Ministry.

Meanwhile, the country’s shipbuilding output reached 25.02 million dwt, up 18.4% on a yearly basis, making up 55% of the world’s total.

Among the world’s 18 major ship types, such as bulk ships and oil tankers, China ranked first globally in new orders for 14 of them during the January-June period, statistics from the Beijing-based China Association of the National Shipbuilding Industry (Cansi) showed.

The growth highlights the resilience and adaptability of Chinese manufacturers in the face of external challenges. It also reflects the insufficient global high-tech shipbuilding capacity resulting from structural changes on the demand side, said Li Yanqing, Cansi secretary-general.

The global shipping market has witnessed a significant increase in demand for fleet renewal.

 - China Daily