CHINA reinforced its global lead in shipbuilding and offshore engineering in the first half of 2026, with new orders for oceangoing vessels surging 105.2 percent year on year, while the value of new offshore engineering equipment orders more than doubled, giving Chinese companies more than 80 percent of the global market, official data showed.
Gross ocean product reached 5.5 trillion yuan ($815 billion) during the period, up 5.1 percent year on year, CCTV News reported on Monday.
China’s traditional marine industries remained on a solid footing, with the shipbuilding sector extending its global lead across new orders, completions and orders on hand in the first half of the year.
New orders for oceangoing vessels surged 105.2 percent year on year, while completions rose 34.8 percent and orders on hand increased 37.1 percent. China accounted for 73.9 percent of global new orders, 55.4 percent of completions and 63.3 percent of orders on hand, the Xinhua News Agency reported.
The value of China’s new offshore engineering orders jumped 121.9 percent in the first six months, reinforcing the country’s leading global market position and highlighting its growing strength in high-value marine equipment manufacturing.
China delivered more than 40 vessels across major categories, including container ships with capacity exceeding 10,000 20-foot equivalent units, massive crude oil carriers and large liquefied natural gas (LNG) carriers. Many shipbuilders have full production schedules, with some order books extending beyond 2029, according to Xinhua.
“The marine economy’s growing competitiveness is an important sign of China’s progress from a major maritime country toward a strong maritime power,” Li Changan, a professor at the Academy of China Open Economy Studies at the University of International Business and Economics, told the Global Times.
The rise is increasingly visible in China’s order intake, the expanding size of its marine economy and the sector’s growing contribution to foreign trade volume, Li said.
He added that these gains show that the marine economy is becoming an increasingly important part of China’s broader push to strengthen its economy and cultivate new sources of growth.
China’s shipbuilding sector is also accelerating its transition toward greener and smarter production, with a new generation of low-carbon vessels moving from design to commercial delivery.
At the Mawei shipyard in Lianjiang, Fuzhou, east China’s Fujian province, an intelligent LNG dual-fuel roll-on, roll-off vessel capable of carrying 4,200 vehicles is nearing delivery.
The vessel features an integrated smart energy system combining solar power, energy storage and shaft-generated electricity. It can also connect to shore power while berthed, enabling low-carbon operations throughout its voyages, the report said.
China also made notable advances in high-end offshore engineering equipment, including the delivery of Haiyang Shiyou 283, the country’s first mobile multipurpose offshore intervention platform, and the start of installation of the Three Gorges Pilot, the world’s largest floating offshore wind platform by single-unit capacity, at 16 megawatts.
Li said that the competitive strength of China’s shipbuilding industry no longer rested primarily on lower costs, in contrast to the sector’s earlier development.
“The advantage has expanded to cover the entire industrial chain, combining cost competitiveness with technological capability and broader supply chain strength,” Li said.
Financial support for the marine sector has continued to expand. In the first half, 12 marine-related companies completed initial public offerings in China, raising a combined 13.34 billion yuan. Blue finance is increasingly channeling targeted funding across the industrial chain, from research and pilot testing to commercial production, providing sustained support for the high-quality development of the marine economy, CCTV News reported. global times
