China receives over 80% of the world's ship orders

Chinese shipyards received 81.8% of global new shipbuilding orders from January to September, marking a significant increase. New orders reached 175.3 million gross tons, up 163.2% year-on-year. China's share of global orders rose from 67.3% in the same period last year, although it slightly decreased from 82.3% in the first half of this year. Production also increased to 58.1 million gross tons, representing 63.6% of the global total. The backlog of orders reached 399.1 million tons, a 64.8% increase from last year. China accounted for 74.1% of new orders for green energy ships, reflecting a shift towards more efficient vessels amid geopolitical tensions and changing trade routes. However, the reported figures are based on gross tonnage and may not accurately represent the economic value or technological complexity of the ships ordered.