The shipbuilding world was rocked in 2025, even though China remained at the top. But the winds of change were blowing, and the US played a significant role in stirring them up. Let's dive in!
Despite maintaining its crown as the world's leading shipbuilder, China experienced a decline in market share for the first time in five years. This shift was largely due to the United States' threat to impose port fees on Chinese-linked vessels, creating considerable turbulence in the market.
According to eworldship.com, a Chinese maritime news outlet, and data from the shipping consultancy Clarksons, Chinese shipyards secured 35.4 million compensated gross tonnage (CGT) of new vessel orders last year. This figure represents a 35% decrease compared to 2024.
China's global market share also dipped from 70% in 2024 to 63% last year – a noteworthy drop, marking the first such decline in half a decade.
South Korea, the world's second-largest shipbuilder, saw its market share increase from 17% in 2024 to 21% last year. Their new vessel orders grew by 8% year-on-year, reaching 11.6 million CGT.
On the other hand, Japan, the third-largest player in the industry, faced a significant downturn. New vessel orders plummeted by nearly 53% year-on-year to 2.8 million CGT in 2025, giving them a global market share of roughly 5%.
Here's where the tension really escalated: The shipbuilding industry was thrown into disarray in early 2025 when Washington announced a plan to impose port fees on vessels owned, operated, or built in China. Beijing responded with its own countermeasures later in the year.
Though both sides agreed to suspend their duties for one year after crunch talks in late October, the uncertainty has sparked anxiety in the shipping sector. This unease was clearly reflected in ordering decisions, as global new vessel orders fell 27% year-on-year to 56.4 million CGT.
This situation raises a critical question: Did the US port fee threats have a lasting impact, or was this just a temporary blip? What do you think the future holds for these shipbuilding giants? Share your thoughts in the comments below!
