In what should be a surprise to no one, the Chinese maritime industry continued its dominance in 2024, with the nation’s vessel orderbook surpassing $123 billion. Data from VesselsValue reveals a strong
In what should be a surprise to no one, the Chinese maritime industry continued its dominance in 2024, with the nation’s vessel orderbook surpassing $123 billion. Data from VesselsValue reveals a strong year for both Chinese shipowners and shipbuilders, with significant investments across various vessel sectors.
- Chinese Ship Owning Market
Among Chinese shipowners, China Merchants Shipping led the way with orders for 28 new vessels, worth an estimated $4.4 billion. This investment was primarily directed toward the Tanker and LNG sectors, each accounting for approximately 33% of the total orders, with additional investments in Bulk Carriers and Vehicle Carriers.
Trailing closely behind, COSCO Shipping Lines secured second place with an investment of $3.06 billion in 18 New Panamax Container vessels, ranging between 13,400 and 14,000 TEU.
COSCO Shipping Development ranked third, placing orders for 20 Bulk Carriers, including Ultramax and Kamsarmax vessels, at a total valuation of $929 million. COSCO Shipping Bulk followed in fourth, investing $822 million in 10 new ships, comprising eight Newcastlemax and two ore carriers, set for delivery between 2026 and 2028. China Shipbuilding Trading ranked fifth with an order of 22 Panamax newbuildings of 80,000 DWT, valued at $778 million. These vessels are being
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