Chinese Shipyards Double Their New Order Volume in First Half of 2026
In the first half, China's shipyards took on twice as many new orders as they did during the same period in 2025, according to the latest numbers from Clarksons.
Out of a total of 1,481 vessels ordered worldwide during the period, China took in 1,131 orders totaling 31 million compensated gross tonnes - about 72 percent of total market share, roughly equivalent to its dominant position in the industry in 2025. China has secured the majority of global shipbuilding orders for the last four years running, and continues to solidify its wide lead over its nearest competitor, South Korea.
The large Korean shipyards brought in 195 vessel orders totaling about eight million CGT - 60 percent more than they won during the same period last year, but far behind China, with just a fifth of global market share for the first half of this year. China's market share lead over Korea is expected to widen to 53 percentage points for the full year in 2026.
However, Korean yards are optimizing for profit rather than volume, and have been selective in picking orders. The Korean Big Three have secured a much higher proportion of the more profitable vessel classes - like LNG carriers, a longtime Korean specialty. Korea holds about two-thirds of the global orderbook for LNGCs, according to Wood Mac.
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China has picked up far more of the high-volume, low-complexity, low-margin classes like small boxships and bulkers, but it is also winning some of the world's biggest accounts. MSC, the world's leading container line, now has a 100% Chinese orderbook for its gigantic and growing fleet. Already in possession of more than 1,000 container ships, MSC has another 128 on order - all in Chinese yards, according to Clarksons data.
