Newbuilding orders sink 54% in first half as China share slips
- Global new ship orders dropped 54% in early 2025, mainly due to high costs, weak markets and geopolitical uncertainty, with most sectors seeing sharp declines
- China’s shipbuilding dominance slipped, with market share dropping to 52% from last year’s 70%, while South Korea briefly took the lead in March after the USTR draft port fee plan
- Containerships were the exception, with orders rising 18% due to decarbonisation demands and a lack of modern secondhand vessels
Shipowners slash new vessel orders amid freight market and geopolitical headwinds, with only red-hot containership demand still fuelling newbuilding slots
