AsianFin-- China's shipbuilding industry achieved significant growth in the first three quarters of 2024, according to data released by the Ministry of Industry and Information Technology. The industry’s three key indicators—completed shipbuilding volume, new orders, and order backlog—continued to grow steadily.

From January to September 2024, China completed 36.34 million deadweight tons (DWT) of shipbuilding, marking an 18.2% year-on-year increase. New orders reached 87.11 million DWT, up 51.9%, while the order backlog as of the end of September stood at 193.3 million DWT, a 44.3% increase year-on-year. China's share of the global shipbuilding market in terms of DWT accounted for 55.1% of completed vessels, 74.7% of new orders, and 61.4% of the total order backlog.

Notably, over 70% of global green ship orders were secured by China, covering all mainstream ship types. The focus on green, high value-added ships, along with exclusive technology, emerged as key highlights for China's shipbuilding sector in the first three quarters of the year.