Source: Xclusiv According to Xclusiv, “to gain insights into the significant shift in the global shipbuilding industry, with China’s ascent and Japan and S. Korea’s decline, let’s look back to vessels delivered in 2008 (examining the number of ships). In that year, 480 bulk carriers and GC vessels (>=10,000 DWT) were constructed globally.
Japan was the dominant player, building 47% of these ships, while China secured a 42% share. S. Korea was the dominant player in the tanker sector in 2008, building 46% of total tankers.
China and Japan trailed behind, each with approximately 20% market share. Of the 468 container vessels built in 2008, Chinese shipyards constructed 38%, while S. Korean and Japan shipyards built 31% and 9% accordingly.
S. Korea’s dominance in the gas sector was clear in 2008, as they built 62% of vessels. China and Japan, in contrast, had a much smaller share of only 7% and 25% respectively”.
The shipbroker added that “China has significantly increased its market share across all segments for vessels built in 2024. While Japan’s share has declined to 31% for bulk carrier and general cargo vessels, Chinese shipyards are responsible for building 62% of these vessels. A role reversal has taken place in the tanker sector for the vessels built in 2024.
Chinese shipyards are the leading builders of tankers, accounting for 46% of the total. S. Korea’s share has declined to 21%, while Japan is responsible for 18%.
In the container market, Chinese s.