China's shipbuilding industry completed 25.02 million tons of ships in first half of the year, up 18.4% from the same period last year - Chinese report

On the 16th, the Ministry of Industry and Information Technology of China released data on the shipbuilding industry in the first half of 2024. The three major indicators of China's shipbuilding industry continue to increase, leading the global shipbuilding industry.
According to public data, China's completed shipbuilding volume in the first six months of this year reached 25.02 million tons, up 18.4% from the same period last year. New orders increased 43.9% to 54.22 million tons.
The volume of construction work in progress at the end of the month was 171.55 million tons, up 38.6% year-on-year. The global market shares of these three major indicators were 55%, 74.7%, and 58.9%, respectively.
Among the data released on the same day, the profits of China's shipbuilding industry are noteworthy. From January to May this year, the total profits of China's shipbuilding industry are nearly double those of the same period last year.
In the first five months of the year, operating revenue of shipbuilding enterprises of national or larger scale was 253.24 billion former (approximately 5.5 trillion yen), and total profits reached 16 billion former (approximately 350 billion yen), up 187.5% year-on-year.
China's shipbuilding industry is receiving increasing orders not only from within the country but also from overseas, and it is expected that China's ship exports will continue to grow in the future.