In the first three months of this year, Chinese shipyards received 15.18 million dwt in new shipbuilding orders, a 53% increase over the same period last year.

For the period, 9.17 million dwt of ships were built, a 4.6% year-over-year decline. Orders in hand were 114.52 million dwt, up 15.6% from the previous year.

Meanwhile, shipbuilding export volume dropped 9.1% to 7.83m dwt, although newly-received export shipbuilding orders were up 56.5% to 13.38m dwt.

Export orders on hand were 104.21m dwt, also up 20.3% — and accounts for 85.4%, 88.1% and 91% of national volume.

In the first three months of 2023, China's delivered vessel volume was dominated by containerships, while the order pool for newly placed orders showed the fastest growth rate for car carriers. 

China's shipbuilding output recently received orders, and orders on hand represented 43.5%, 62.9%, and 50.8% of the worldwide shipbuilding market, respectively, from January to March. 

For the first quarter, the 18 major Chinese ship repair yards fixed 995 ships in the January to March 2023 period or up 3.4% compared to the same Q1 period in 2022.