BUSINESS

China Dominates as Global Shipbuilding Orderbook Hits Record

Published: Nov. 3, 2026 12:55 p.m. GMT+8

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Several large vessels under construction at a shipyard in Jiangsu on Oct. 25. Photo: VCG

The global shipbuilding orderbook has climbed to a record as demand for tankers and other vessels stays strong, with an increasing share of the work flowing to Chinese yards.

Outstanding new-ship orders reached 226 million compensated gross tons (CGT) as of Oct. 26, according to Clarksons Research, surpassing the previous record of 224 million CGT set during the 2008 shipping boom.

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Global shipbuilding orderbook hit a record 226 million CGT by Oct. 26, surpassing the 2008 peak, with Chinese yards holding 68% of the orderbook.
China dominates new orders, capturing 81.8% of global orders in the first nine months, driven by tanker demand (43.4% of orders) and green-powered vessel orders (74.1%).
Chinese yards expand capacity (e.g., Hengli invest $2 billion), but concerns grow that high prices and volumes may not persist by delivery time.

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Who’s Who

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What Happened When

In January 2026：: Hengli Heavy Industry planned to invest 13.5 billion yuan in additional shipbuilding capacity.

Earlier in 2026：: Chinese shipbuilders secured more than 30 billion yuan of orders at a maritime exhibition in Greece.

During the first nine months of 2026：: Chinese yards received orders totaling about 175 million DWT, up 163% from a year earlier and exceeding their total for all of 2025.

During the first nine months of 2026：: China accounted for 81.7% of global new orders and 65.5% of deliveries, while South Korea had 12.6% and 18.3%, and Japan had 3.2% and 13%.

During the first nine months of 2026：: Tankers accounted for 43.4% of global new-ship orders, bulk carriers 24.9%, container ships 22.3%, and LNG carriers 3.2%.

During the first nine months of 2026：: Average daily tanker earnings reached about $91,000 and rose to around $160,000 in September 2026.

During the first nine months of 2026：: Chinese yards captured 74.1% of global orders for green-powered vessels.

In 2026：: About 44% of tanker tonnage was more than 16 years old, compared with 33.5% for container ships and around 29% for bulkers and gas carriers.

As of Oct. 26, 2026：: Global shipbuilding orderbook reached 226 million CGT, surpassing the previous record of 224 million CGT set during the 2008 shipping boom.

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